Although I’ve often written here about how great our smart Video platform is, how it improves the user experience, increases conversion rates, and generally makes life better for everyone – Every marketing professional knows that in sales, words are only as valuable as the numbers behind them, or in other words:
“The bottom line is only as good as the bottom line”
After you’re done feasting your eyes on the bombshell below you might want to scroll down and check a few figures on how Video is impacting conversion rates for Online Fashion Retailers…
Fashion Industry Retailer’s Video Conversion Figures – Q1 2010
As the table and graphs below show, my assertions about the value of video for retailers are well backed by hard data:
- “No Video CVR%”
% of Unique Visitors to view a product page who could watch a video, but DIDN’T, yet still added the product to their cart.
- “Video CVR %”
% of Unique Visitors to view a product page who DID watch video and added the product to their cart.
The most obvious fact one learns from the data is this:
Visitors who watch product pages videos convert more than twice as often then those who don’t.
This data is in line with similar case studies we’ve published in the past showing that presenting video as an option for shoppers improves CVR even when the customers don’t watch them!
Conclusion – Online Retailers Ignoring Video are leaving Money on the Table
Online retailers seeking to increase sales would do well to investigate adding video to their site today.
Some of the key points to think about are:
What’s the most cost effective method of adding video to the site?
What products and offerings should receive video treatment first?
How will the video be integrated into the site’s existing pages?
It’s important to remember that, although a few production videos might be great for retailers that only deal in a very limited number of products, any online retailer that moves tens or hundreds of products will be poorly served with this type of solution. Furthermore production videos have no dynamic aspect – once created they’re impossible to change or edit so if your porduct details change they basically become useless.
If you’re an online retailer with a large inventory interested in covering your entire inventory with dynamic self updating videos quickly and cost efficiently contact us today : )