The Conversion Impact of Product Videos

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E-commerce retailers are finally catching on to the power of product videos according to a new study from Invodo.

The 2015 Product Video Benchmarks Report shows that the use of product videos by e-commerce retailers grew by 41 percent in 2015 compared to 2014, with total video views increasing by 42 percent year-over-year (YOY). What’s more, the data reveals that mobile views increased by nearly 150 percent YOY. The highlight of the study, however, was product videos’ impact on conversions, with the data showing that video viewers are 1.7 times more likely to make a purchase than non-viewers.

“Product video is rapidly becoming a standard expectation for shoppers, and we see retailers responding,” said Fred Waugh, VP of marketing, Invodo. “We anticipate consumers’ demand for this type of content will only increase in 2016, driving retailers to further scale their use of video and push the boundaries of what’s possible in order to deliver an even better online shopping experience.”

Additional findings from the study show that the average video view rate in 2015 was 12.4 percent, with viewers watching a video to completion an average of 62 percent of the time. That said, videos with a length between 16 and 30 seconds averaged the highest completion rate of 75 percent (see image). It is also important to note that the quality of video impacts conversions, with the study finding that videos rated at least four out of five stars have more than twice the average buy rate of lower-rated videos.

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MitchR 02-17-2016 2:43 PM

It's really best to test for this than simply reciting statitics

Framework Media 02-18-2016 9:21 AM

The quality and content of the video is hugely important. The article notes that "quality of video impacts conversions", but a video that is simply an image slideshow adds little value to a product page that already has an image gallery. Showing a product in use (for example, opening closing a baby stroller) or highlighting specific features that separate a product from the competition are going to enhance the product listing and improve conversion.

Gainesville Apartments 04-12-2016 6:50 PM

Totally agree that video marketing is super important these days. We've used tenant testimonial videos and posted them on Facebook, and using Facebook analytics, we're able to track conversions through our website from the video ads and compare them with the standard ads. The video ads convert at a far higher rate, especially when we post testimonial voiceovers with apartment virtual tours.

The thing that I find really surprising is the demographic breakdown on the apartment video ads. The company that I work for (Trimark Properties) specializes in niche student aparments near UF campus, so we're targetting a very young market, but the PARENTS are also engaging with the video ads at a higher rate than the standard image ads. We're now starting to use analytics to track the success of videos that have different styles and comparing the conversion metrics (for example, we'll compare a traditional apatment 3d tour video with a student testimonial video).

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