OK, maybe the last one isn’t true. Unless you are a chocolatier, then you probably have seen an increase in chocolate consumption. Preferably because of more customers BUYING the chocolate, not you eating your profits.
Although not featured prominently, we do quite a few product videos for various companies on a regular basis. They are among the simplest and most effective improvements many companies we work with make to sell more product. Either on their own site or with the retailers who carry their products.
Some recent stats came out from Invodo in their E-Commerce Video Benchmarks Report that really shows how much an impact product videos have on sales both online and offline. Here are a few eye popping stats with my thoughts on what it all means:
2/3 of video viewers watch videos to 80% completion
Many videos have a logo or weak call to action at the end of their product videos, so not watching the final seconds isn’t a huge surprise. While not a true completion, this is pretty close and is especially impressive considering roughly 18% is clicking away in the first 30 seconds.
73% are more likely to purchase if they watch a video beforehand
This is the “see it before you buy it” for e-commerce. While many used to go to a brick and mortar store to see a product and touch it before they bought it, now product videos serve the same function virtually for many.
93% said product videos are valuable for post-purchase information
Why’s this number so high? I mean…they’ve already purchased it, so why do they need a product video now? Simple. It’s helpful to watch a video to help you when anything requires setup or installation. Watching a video is way better than reading directions, that’s for sure.
So what does it all mean? I think as more and more people shift their shopping online, these numbers for video in e-commerce are only going to improve. More chocolaty goodness for everyone.