If you’ve ever clicked onto an e-commerce website and scrolled through their product offering, you will know that many tend to use photos and graphics rather than high-quality video to showcase their products.
Why? Well, because producing quality videos can be hard and when you begin to think about all that is needed in order to produce high-quality videos, like expensive equipment and specialists who know how to use that equipment, things can start to feel overwhelming and costly. Hence, why many e-commerce businesses prefer to use photos and graphics over video marketing.
But if you own an e-commerce business, you shouldn’t be so quick to dismiss video to market your products just because the idea seems somewhat daunting. Taking the time to take a closer look will reveal that video might just be an investment worth making according to these video marketing stats.
Of course, there is no reward without sacrifice. So keep in mind that you will need to forgo a few things, in the beginning, in order to put together a video marketing budget, but rest assured the results will all be worth it!
Not convinced yet? Let’s take a look at some more convincing video marketing stats that are likely to change your mind.
Why should I use video marketing for my e-commerce store?
- People love watching videos
According to Alexa.com, YouTube features second in the list of top 500 sites on the web which tells us that the majority of people online prefer to regularly watch videos. This, in turn, shapes the way that consumers interact with content and ultimately make buying decisions.
- Video marketing converts
Since video sees a lot of traffic, it makes a lot of sense that conversions would increase along with views. According to stats from depositphotos.com 64% of clients often buy a product online after watching a video about it.
- What makes video marketing so effective?
Video allows you to showcase your products in a completely different light, bringing your products to life and allowing you to tell a story, if you will, about your products to effectively engage your audience. 73% of adults who watch are more likely to purchase after watching an online video that explains the product according to animoto.com.
- Most businesses include video marketing as part of their sales strategy
Wyzowl.com conducted some research in December 2019 and gathered stats that showed that 85% of businesses use video as a marketing tool. And of that percentage, the most commonly-created types of videos included sales videos (42%). Making it clear that e-commerce business owners are finding video valuable and worth their investment.
- Consumers prefer video over all other types of content
According to retaildive.com, almost three-quarters of consumers, 72%, prefer video to text for receiving branded marketing information. With shoppable videos being the most popular due to faster internet connections and bigger devices, it makes video more accessible.
- Online ordering is important to both Millennials and Gen Z
According to danacommunications.com, both Millennials and Gen Z enjoy ordering things online, with the main difference being that Millennials prefer to order and then pick up instore while Gen Z like to have items shipped straight to their doors and expect this to be done quickly and cheaply.
Something also worth noting is the fact that Gen Z are almost always online. In fact, a recent study found on khoros.com said that 74% of Gen Z members spend five hours or more every day online.
This is very good news for e-commerce stores, especially considering that Gen Z will be the next generation to have the most purchasing power.