Ecommerce video myths debunked
I’ve just finished reading a well written post by Daniel Sevitt on the ReelSeo blog titled: “The Three Types of Online Video for Business“. Daniel writes well and covers his subject matter eloquently but when I finished reading I remained with the sensation that I’d been taken for a merry little ride.
Sales Are Only 0.1 Percent (?!?)
I know it’s a heavy accusation, but I can explain:
When someone writes a post titled “The Three Types of Online Video for Business” and mentions in it a reference to someone else’s “Top 6 Reasons B-to-B Marketers Need Videos” I guess I expect the word “Sales” to appear often. Daniel’s post has 2,178 words. The word “Sales” appears twice. That’s less than 0.1 percent…
Apparently the “Top 6 Reasons B-to-B Marketers Need Videos” are, and I quote:
- Grab people’s attention instantly
- Tell your story in less time
- Bring your ideas to life
- Make your site stickier
- Create a buzz with viral video
- Bring your website into the 21st century
What I learned from Eli Wallach about Sales
Call me coarse or unsophisticated if you like, but I’ve always believed there’s a lot of truth in the line uttered by Eli Wallach in the scene shown above, and taken from “The Good the Bad and the Ugly”:
“When you have to shoot…Shoot! Don’t talk”
Let me explain:
With all due respect to the 6 points Daniel quotes in his post, I’d like to make 3 points of my own:
- The purpose of a business is TO MAKE MONEY.
- Online retailers make money by SELLING PRODUCTS.
- The primary purpose of online video for retailers is TO SELL PRODUCTS.
To paraphrase Wallach:
“Pardon me pilgrim but ‘Grabbing people’s attention’ (pt #1), ‘Telling a story’ (pt #2) & ‘Bringing ideas to life’ (pt #3)… Heck, that all sounds like a lot fancy talkin’ to me!”
Although ‘Bringing their website into the 21st century’ (pt #4) sounds really impressive, I’m pretty sure 99 out of 100 vendors would prefer using video to SELL THEIR INVENTORY.
Let’s go back to basics
Video, indeed any form of advertising or marketing, has little or no value for its own sake. Its value is as a means-to-an-end. For etailers that end is TO DRIVE SALES.
By that logic the best way to judge the addition of video to your site is by the impact it has on your bottom line. If you can get a good impact on your conversions for a low investment – GOOD FOR YOU, you’ve done well for yourself.
I might be old fashioned
I might be old fashioned, but getting the best-bang-for-the-buck seems to me to be what a good business is all about.
- Our experience has shown us that adding video to a product’s listing can impact the conversion rates for the product by anything from 35% to 300%.
- We’ve learned that premium & complex products often show greater impact on their conversion rates because clients are more inclined to make a hefty purchase after watching a video that explains a premium product’s benefits.
Going back to my bang-for-a-buck point from before, it’s every etailers DUTY to his or her business to get these conversion rates at the LOWEST COST and effort possible – no small feat when one considers the vast majority of online retailers have over 500 products in their catalog.
When one takes into consideration these facts it’s easy to understand why automated ecommerce video solutions able of creating thousands of product videos in a matter of hours, are readily adopted by retail leaders such as Ice.com, Diamond.com, EyeBuyDirect.com, Elady.com, ElectricShopping.com, and others.
I guess when you’re as successful as these guys you know only too well there’s “A time for talkin’ and a time for shootin’…”
Image credit: Daquella manera