Standing out in a competitive ecommerce landscape is a constant battle. Winners and losers in any category can swap places quickly. The ability to constantly evolve, and to adopt new effective strategies has a large impact on long term success.
For example, we have known for a long time that content marketing is critical if you want to be discovered by the right people in your target market.
What is now becoming clear is that among the many options that an entrepreneur has in terms of media and content that they can produce, there is one that consistently performs higher than any other.
That medium, is video.
If you are already producing videos and promoting them effectively, then you are ahead of the pack. Even though over 400 hours of video content is uploaded onto the leading platform YouTube every minute, there are still far more companies that are not yet taking full advantage of video.
If you are not yet using video, there is still an opportunity to make an impact by starting today.
Those who are regularly creating valuable video content related to their products, and their niche see many advantages that give them an edge on competitors. When done correctly, video can boost conversions, trustworthiness, virality, and loyalty more than any other form.
Here are a three important tips on how video can help you, and what to do about it.
Email marketing is the backbone of many ecommerce stores, and can be an effective way to sell to new and repeat customers.One challenge is that open rates are often low, and conversions are even lower as people find their inboxes more and more crowded.
By using video in your email you can see a significant uptick in these numbers. One study showed that using the word ‘video’ in email can improve open rate in an email by 65%, and click through rate by as much as 3x.
Think about how many more sales that could mean for your business! All by adding video content to your email that you might already be using elsewhere.
We all know that images are a must have for any product page if we are going to get sale. But what about video?
Unsurprisingly, we see that video helps conversion rates – a lot. The actual number ranges depending on the study you read, but one study found that a shopper was 144% more likely to put an item in their cart after watching a video.
Social traffic can be highly valuable in ecommerce as it comes loaded with social proof from anyone who thinks enough of your product & site to share it.
Video increases your chances of getting that social boost, especially from millennials. One report suggested that millennials are more than twice as likely to share a video ad vs any other advertisement.
Considering how averse millennials are to ads overall, this is a huge accomplishment simply by adding video.
There are many advantages to investing in good video content – what we have laid out is just the start. Good luck!
This guest blog post is by Mike Barrett of vloggingguides.com