eCommerce is a fiercely competitive industry and despite being in its nascent stages, has already managed to match the might of several other preexisting domains. This permeation of eCommerce across the globe is thanks to changing lifestyles, the advent of new technology and businesses’ desire to serve their customers better.
It is no secret that videos have become the preferred mode of branding, advertising, launching products, explaining concepts and seeing a product in action. For modern-day businesses, videos are of high importance because they help create a buzz, reach more people, gain more attention, connect with more audiences, engage potential customers and leave behind a high recall value – all of which amounts to the golden word that every business wants to hear: CONVERSIONS.
CREATE CUTTING-EDGE PRODUCT VIDEOS WITH TOOLBOX STUDIO
Here are a few statistics and data points that will revalidate the fact that having a video strategy is a must for businesses and that product videos are indispensable:
- Video accounts for close to 80% of the world’s mobile data traffic
- Over 70% consumers think that videos explain products better
- Over 50% people engage with a brand after watching a video
- Over 50% shoppers think that companies with product videos are trustworthy
- Close to 90% people find videos helpful while making a buying decision
- Approximately 60% people are more likely to buy a product after watching a video about it
Types of Product Videos
Product videos come in various shapes, sizes and forms. Here are a few popular types of product videos:
- Live-action product videos
- 2D animated videos
- 3D animated videos
- Whiteboard explainer videos
- Product videos that use motion graphics
Benefits of Product Videos
Whether you talk about websites or social media, videos are ruling the roost everywhere. Product videos are short audio-visual productions that convey to the viewers what a certain product does. They help potential customers understand the product by:
- Highlighting all its important aspects
- Educating them about new features
- Explaining what it is used for
- Demonstrating how it is used
- Focusing on the key benefits of the product
- Providing a virtual overview of the product
Studies suggest that high-quality product videos can help eCommerce businesses by:
- Helping them rank higher on Google’s search results
- Attracting new customers
- Retargeting potential customers who had shown interest in your product
- Increasing sales and conversions
The ability of product videos to convince or persuade a viewer to make a purchase, or even create an aspirational value about the product, is massive. eCommerce businesses are constantly experimenting with different types of product videos that can help build some excitement about their offerings and strike an emotional chord with the viewers.
Research on the subject also points towards the fact that hosting a video about a product on the website helps build trust. Moreover, product videos are generally very short and crisp, making them easily digestible across platforms and devices. They also have the shareability aspect – people spend close to one hour on an average watching different types of videos online every single day – and social media channels make it easy for users and viewers to share what they like.
All in all, hosting product videos on your eCommerce website and promoting them using social channels and paid advertising is the key to greater visibility, increased conversions and a happier you! Video marketing, if done right, can result in increased sales and conversions. All it takes is knowing what the best product videos look like. And if you don’t know that, we’re here to help.
Toolbox Studio has enabled several retail and eCommerce businesses and brands to create impactful product videos for a wide range of purposes. Our expert team of writers, visualizers, artists, animators, cinematographers, directors, editors and VFX specialists ensures that no stone is left unturned when it comes to creating the perfect product video.
