If you want to increase product sales, recent studies say that you should include explainer video on your product pages. A Liveclicker survey noted that retailers could increase their average order value (AOV) by 50% by adding an explainer video on the homepage of their site. In addition to this, the survey discovered that retailers who follow this trick experience a 68% rise in their AOV. Most marketers believe that videos increase their conversion rate, a fact supported by Liverclicker surveys on retailers like Newegg, Best Buy, and Bed Bath and Beyond. Making an explainer video available on your homepage is worth it, as it provides your prospective customers with value. But does it affect your bottom line? According to Liveclicker’s research, it does. 88% of respondents to the survey confirmed an increase in conversion rates for product pages that contained a relevant video. In addition, 35% of respondents reported very high increases in conversion rates, well over the usual site average. Also, retailers that added video content on the majority of their product pages stated that they had seen a 79% higher conversion rate compared those retailers who had added just a few videos. It looks like there is a directional relationship between video content and revenue. The respondents said that their sales begin to rise as they put more videos on their business sites. Just a small 1% increase in the video views in 30 days prior to the survey resulted in an overall monthly revenue growth by about $13,092.84.
Social Media and Mobile PhonesIt is not enough to place one or two explainer videos on one or two landing pages of your site. You have to take it to the next level by sharing your video content on social media websites. Don’t forget to tap into YouTube: the biggest video sharing website of the world. The mentioned brands that took part in the survey confirmed that they had experienced a rise in the number of views on videos each time they used a new distribution channel. The report suggested that brands should hire professionals to get their websites optimized for all devices, such as mobile phones, tablets and personal computers, stating that in the second quarter of 2014, about 25% of videos were viewed on mobile phones.
Product Video OptimizationOn the basis of the findings of the report, the following video optimization tips were offered by Liveclicker for marketers with a desire to up their conversion rates through their home page explainer videos.
- Related Video Suggestions: Make sure it is easy to find a video on your site, and do offer related videos in order to keep the visitors hooked.
- Make sure the video are not too long: Your explainer videos should be short and brief. Liveclicker says that the best length of this sort of video is 30 seconds, give or take, unless, of course, the products are complex and require a detailed video for description.
- Optimization of videos for cell phones: Without optimizing a video for playback on cell phones, you will lose a lot of traffic.