Why 2023 Is The Year Marketers Should Make Their Video Content Shoppable
In today's digital age, customers are increasingly turning to online shopping for convenience and flexibility. With the rise of shoppable video technology, businesses now have the opportunity to provide an even more seamless and interactive shopping experience for their customers. Here are some reasons why brands should consider making their video content shoppable to stand out from the crowd in 2023.
1. Increased Customer Engagement
The interactive format of shoppable video content encourages viewers to engage with a brand’s content in ways that are not possible with standard video content. Customers are enticed to click on hotspots in videos in order to learn more about the products or looks on show, helping to inform the viewer further on these articles. The exciting format captures the attention of the customer, furthering the desire to learn more about a brand’s products.
2. Enhanced data collection
By exploiting the increased engagement from interactive video, new streams of actionable data are created. With customers clicking on particular products in videos, brands can build a detailed picture of what an individual’s interests are. These customers can then be retargeted in a highly focused way. Rather than retargeting individuals based on the whole range of products in a video, brands can target each customer with exact products that they have shown interest in. This can help build a deeper connection between your business and your customers, increase customer loyalty, and drive more sales over time.
3. Providing More Opportunities for Product Demonstrations
According to a survey by Crisp, 64% of consumers say they would be more likely to purchase a product after watching a video about it. Shoppable video content provides an excellent opportunity for businesses to showcase their products and services in a more interactive way. By creating videos that demonstrate the features and benefits of your products, with hotspots that help to elaborate upon this, you can help potential customers make more informed purchase decisions. This in-turn can lead to significantly reduced return rates.
4. Creating a frictionless purchase journey
Helping the customer to make informed decisions is a great step, but it is vital that these decisions can easily be converted to purchases. Shoppable video drastically reduces the steps required by the customer to make a purchase. Gone are the days where the customer sees a product they like in a video, then has to search for the product they like, then has to find the product they like… It is 2023. It is as simple as clicking on the product, and clicking add to cart. By creating a simple, smooth purchase funnel, businesses can drive more sales through shoppable videos.
5. Staying Ahead of the Competition
Shoppable video content is still a relatively new concept in the world of online marketing. By adopting this technology early on, you can stay ahead of the competition and offer a more cutting-edge and innovative shopping experience for your customers. This exciting format is a refreshing addition to any site, reminding the customer that a brand is leading the way in adopting the technology of the future. This can help differentiate your brand from others in the marketplace, increase brand awareness, and drive more sales over time.
The benefits of shoppable video are clear to see. Increased customer engagement leads to a wealth of actionable data. Combining the increasingly popular video format with a user-friendly conversion journey can boost your sales. And of course it is important to be technically innovative and keep one step ahead of competitors. Now is the time to exploit this exciting video format.
