How Product Videos Increase eCommerce conversion rates

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How Product Videos Increase eCommerce conversion rates

How Product Videos Increase eCommerce conversion rates

If there is one thing that could sky rock your eCommerce conversion rates like crazy – that’s video.

In fact according to Comscore 64-85% of customers are more likely to purchase a product after watching a product video.

In this post we’re going to explore further why is video so effective in converting web visitors into clients and how to use it to accomplish your business goals.

Why is video so effective?

The first step to understanding how product videos can help you increase your eCommerce conversion rates is to understand why video is so effective in the first place.

Here’s why:

It helps you rank better – do you know video will help you with SEO? It will help you with decreasing your bounce rate and increasing the time people spend on your site.

 

Video content will also attract more high-quality backlinks and social shares. This might not affect your conversions directly but it will do that indirectly.

 

By attracting higher quality traffic to your eCommerce site you’ll naturally have higher conversion rates.

 

It is more sharable & viewable – studies show that people are more likely to share videos than just text pages. People are also more forced to click on a video thumbnail than to no visual or multimedia element.

 

It takes less effort – reading text requires a higher dose of concentration. Watching a video is much easier.
Even corporate executive prefers it as 59% of them say that they like video better.

 

You communicate more information – when your product is complicated, you can use video to explain how it works much easier and faster. A 30 second video is the equivalent of a half a page text.

 

Also, it’s harder to read long passages of text on mobile devices where the screens are much smaller. This is a place where it’s much easier to communicate more with video.

 

How to use video to increase conversion

There are many ways that you can use videos to increase your eCommerce conversions rates.

Use Video on your homepage – on your homepage you can use videos to deliver your core message, communicate your value proposition and build trust with your audience.

 

This will additionally help you increase conversion rates simply because people will understand why your solution is better and why people should buy it.

 

In 2012 Dollar Shave Club created and launched their first video. It went viral and within 24 hours the company has already 12,000 subscribers and had run out of stock to sell.

 

Dollar Shave Club

 

The founder Mike Dubin had to ask friends for help to be able to deliver on all orders.

 

The reason why Dollar Shave Club’seo was so successful was really simple: it was a good combination of humor and smart positioning.

 

The company pointed out to the extreme pricing of today’s razors. Instead people can order and get a new razor each month for just $1/month.

 

Dollar Shave Club is the first company that ever offers cheap razors delivered straight to your door as a subscription service. And that’s why it won so many customers.

 

Today the company has 2+ million subscribers and has been valued on more than $650 million.

 

Product page – StacksandStacks.com found that visitors are 144% more likely to purchase after seeing a product video that those who did not.

 

Images are a great way to present your product but they are simply not enough. People want to be able to see your product from all angles, to see feel what it’s like to have it in their hands.

 

Zappos has been using videos for their products in the last 5 years.

 

Zappos product video

When they first started adding videos to their products there was an increase of 6% to 30% in their conversion rates for these products.

 

The interesting thing is that the conversion rates were higher for products that have videos even if the audience didn’t watch them.

 

Simply, having the option to watch a video is a factor that convinced people to buy these products.

 

To take out the most out of product videos we suggest you add them to as many product pages as you can.

 

You can easily use Dynavi to create videos for all your products using your images and descriptions.

 

If it’s impossible for you to create videos for all your products, you should prioritize. Go to Google Analytics and click on Conversion -> Ecommerce -> Product performance.

 

 

Then you’re going to see a list of your product starting with the ones making you the most money.

 

 

So start creating videos for the products that made you the most money and have the highest numbers of unique purchases. You know that they are already selling sell so you can easily improve their conversions even more.

 

If you cannot afford to shoot videos for all your products in studio, prioritize and create this  kind of expensive video for your best selling products.

For the rest of your catalog you can create an automatic service like the one of Dynavi to create multiple videos.

 

Male or female narrator – this is something that each retail store should test out to be sure what works.

 

However, there is a study made by the online retailer EyeBuyDirect.com that suggests that eCommerce customers prefer a male voice for the video narrator.

 

To find this the eCommerce store tested out the effects in the change of narrator for 2 product videos – each running for approximately 30 seconds.

 

In their case, the video with the male narrator had higher conversions and made more sales. It had a 9.28% conversion rate and the female-narrated video had only 2.78%.

 

Video thumbnail – A/B testing your video thumbnail can also hugely affect your conversion rates.

 

Yobongo saw a conversion lift of 70.9% when they tested different versions of video thumbnails.

 

With Dynavi you can easily test and measure the performance of different versions of your video thumbnails and see which ones receive more click-through rates.

 

Watch the video call-to-actionthe Social man saw a 28% increase in conversions in his newsletter singups when he changed their call-to-action button “Get Instant Access” to “Watch the video”.

 

Version A: Get Instant Access (11.9% conversion rate)

 

 

Version B: Watch the Video (15.3% conversion rate)

 

 

 

 

Use video testimonialstestimonials are a great way to build trust and get social proof for your brand. And having video testimonials is even better.

 

Video testimonials are much more believable. If you have only first name and initials a few people will believe what that person said is real.

 

But if you see him speaking on camera and explaining about his experience as your clients – this sounds much more believable.

 

According to Justin Nassiri from VideoGenie on average people watch 100 seconds from video testimonials. Which is pretty good!

 

Use video analytics to measure what works – you’d never be able to improve your conversion if you don’t know what works and what doesn’t.

You need data to see which video get views, how many, how much time they watch it, etc.

To measure video effectiveness you can use tools like Google Analytics. To track media plays, you’d need to set up a goal using event tracking.

To do that go to Google analytics standard report. Click on the admin in the top right.

Then in the view tab click on “goals”.

Click on “+New goal”

Then in template section of goal setup choose Engagement -> Media play.

This will allow you to track the plays on a video on your store.

Click continue, name your goal (Media play) and choose type Event.

Then click continue.

The last step is to include the goal details.

In category you can type “videos”. This will allow you to distinguish this type of event from others.

In action you can type “play”. This will allow you to distinguish what the user did with the video.

When you’re done you can click on Save and then on Done. This will finalize the tracking process.

If you’re using Dynavi, our dashboard analytics will allow you to track and see the views and conversions of all your videos.

That way you will be able to better understand what works and what doesn’t.

Approaches

There are certain things that you can additionally do to further increase your conversion rates when using video on your eCommerce site.

Here’s what:

Create a video section on your websitecreate and maintain a video gallery instead of hosting your videos on YouTube.

 

You should make it easy to navigate and use. At the same time all videos should point back to the product pages to make it easier for customers to buy from you.

 

Include call-to-actions in videos – this one is really simple – just tell your viewers what they need to do to buy from you. Explain them everything step by step and how it works.

 

This does several things at once:

 

  • people understand what is expected from them in order to buy so there aren’t any surprises
  • people imagine themselves buying from you which actually makes it more likely to happen

 

With Dynavi you can also include call-to-action button on the videos itself as a default action adding the product to cart.

 

Make an outstanding easy to see video play button – people will never play your videos if they don’t know that you have one.

 

When you embed or put a link to your video be sure to include an outstanding video play button that attracts attention and wants to be clicked.

 

Zappos include their video play button just below their gallery images on their product page. That way users can always spot it and click on it if they want to further explore the product.

 

Zappos product page video

 

Keep your videos short – when customers are shopping online they don’t have much time. That’s why they are watching your video. So keep it as short as possible!

 

Liveclicker made a study and found out that product videos with the highest conversion rate are under 30 seconds long.

 

The exception to the rule is with products that are more complex or are more expensive. These kind of times usually perform better with longer video.

 

Create as many videos as you can – if video can help you increase conversion rates on your product pages then it makes sense to incorporate it on as many as you can.

 

But what would be the effect?

 

According to a study made by Liveclicker retailers that have video on 50-75% of their product pages have an average order value of $300 and those who incorporate on 0-25% have only $177.

 

Also, retailers that have videos on the majority of their product pages report an average conversion rate of 9%. It was 79% higher than those who had video on 0-25% of the pages and 31% higher than those who had on 25-50% of the pages.

 

Another thing that Liveclicker found was that the more videos users watched on the website the more money they spent.

 

Customers that watched 10 or more videos spent 119% more than those who watched just one video.

 

Incorporate for mobile – eCommerce companies shouldn’t be afraid to include videos for mobile user as well. Liveclicker found that mobile made up over 25% of eCommerce video plays in Q2 of 2014.

 

Share videos on other platforms – distributing your content to Facebook, Twitter, YouTube, affiliate networks and blogs allows you to generate additional high-quality traffic that easily converts into sales.

Combine product videos in email marketing activities – you can do this with many purposes. To prevent abandoned cart, to personalized “thank you” mail after-purchase or simply to engage more your email list and warm it up for future offers.

 

Whatever your goal is video can help you out.

 

According to Implix, an introductory email that includes a video receives an increase click-through rate by 96%. Which is a lot.

 

A/B test on product videos to see which converts better – to do this you will have to actually create both videos which is not a small effort.

 

That’s why we suggest you start testing on 1 product page that received the most traffic and see what the difference in the lift of conversions are.

 

 

If you see a big difference, you can test your changes on other product videos.

 

You can also use our platform to easily create multiple versions of the same video and A/B test them.

 

A few things that you can test in your videos:

 

  • Thumbnail
  • Length of video
  • Male vs female narrator
  • Call-to-action
  • Placement of video on your page

 

In conclusion:

 

Videos are a great way to increase your eCommerce conversion rates. They have the power to grab and hold attention and the same time to deliver your desired message to your customer as fast as possible.

 

Videos convince people that what they’re viewing is what they want to buy. And this is where the power of video is.

 

Do you currently use product videos on your eCommerce store? How do they work? Let us know in the comments below.

 

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