Power Your eCommerce Sales Funnel with Video
In an increasingly digital world, reaching, engaging, and moving target audiences with text and email is not enough. Brands worldwide are upping their efforts by fully integrating video content into their eCommerce sales funnel and cyber sales season strategies to amplify their reach, capture more leads, and boost conversions.
When executed right, video content, such as Black Friday and Cyber Monday marketing short ads, explainer videos, and testimonials can result in positive business outcomes. Given videos' impact on conversion and revenue, it's highly likely that your competitors use video to optimize their eCommerce funnel.
According to recent findings, 86% of companies now utilize video for marketing. If you are not currently leveraging videos, you should consider them to power your sales funnel.
Why Video? Why Now?
2022 is the year for digital videos. An overwhelming 82% of global internet traffic will involve video consumption. That makes absolute sense as the average person now spends 100 minutes daily watching digital videos.
The reality is that 9 out of 10 modern consumers expect brands to give them more video content. Overwhelmingly, video is a consumer favorite content format, with 70% of customers preferring to watch videos over reading text-based articles or downloading an eBook or a manual. Even business leaders are going to video to help drive their decisions. According to a study, over half of B2B decision-makers check product videos and reviews on YouTube to explore and consult potential business-related purchases.
These figures illustrate why 92% of today's marketers say video is a crucial element of their marketing strategy and why every eCommerce sales funnel should leverage video content.
Video Content Types to Optimize eCommerce Funnel
88% of customers say they are more inclined to purchase after watching digital videos. But what type of videos should you give your customers to push them towards conversion?
That all depends on several factors, including the product, landing page experience, and where your customers are at a specific point in the sales funnel. Let's look at how you can prepare for a successful sales season with different types of videos for eCommerce funnel optimization.
- Product demos are usually the first point of contact between the brand and consumers. Its primary purpose is to deliver visual proof that the product exists and is generally placed in the initial and final stages of the eCommerce sales funnel. Product demos effectively highlight a product's practical functions to its target audience during the initial contact. When placed in the later stages of the funnel, product demos further enhance the potential value it brings to its customers.
- Explainer videos, on the other hand, are more specific than product demos. As the term suggests, these videos help explain complicated products. In addition, explainer videos can also be about concepts like value propositions, brand awareness, and more. 96% of people have watched explainer videos to learn more about a product or service.
- Storytelling videos, when effectively executed, can improve the sales funnel journey. By eliciting certain emotions or playing on nostalgia, this video content type can reach and connect with customers more profoundly. Storytelling videos can be highly persuasive in any customer journey by conveying a narrative that resonates with customers.
- Testimonial videos help brands leverage the success of previous customers and showcase the value of their products and services to potential customers. When integrated into your eCommerce sales funnel, testimonial videos can help prospects identify themselves with actual users who are authentic people. This connection propels them to know more about the brand and its product and ultimately convert. 2 out of 3 people say they will likely purchase a product after viewing a testimonial video that shows how a product or service has helped customers with similar situations.
Utilize a Winning Digital Strategy for Black Friday and Cyber Monday
Why is video marketing so important for Black Friday and Cyber Monday? Over 20% of U.S. shoppers will start holiday shopping during Cyber Week, running from Thanksgiving Day through Black Friday to Cyber Monday.
As the most concentrated shopping period of the year, many online businesses rely on the revenue holiday peak generates to meet their annual business goals. As the holiday period draws near, we have the five eCommerce website fixes you need to pave the way for a successful holiday sales season.
Optimize Videos for Better Digital Experience
The significance of videos on an eCommerce sales funnel is immense. Landing pages with videos enjoy an 86% conversion rate. Nearly 90% of marketing professionals affirm that video impacted their lead generation efforts. In terms of results, 87% of marketers reported impressive ROI when using videos, while 81% noted that video directly enhanced their sales.
Incorporating video into your eCommerce funnel strategy is now imperative for today's brands. But it's also worth noting that videos must be optimized to provide a superior digital experience for users. Thus, brands must ensure that videos on their website load quickly, play smoothly across channels and devices, and are always available on demand.
IIn addition, it's crucial that digital teams consistently perform video monitoring to track and assess the video content performance. Metrics like play rate, shares, likes, comments, and reactions paint a clear picture if your videos are driving engagement, generating new leads, and improving conversions. Video monitoring helps you know if your videos are achieving their purpose and are worth the investment.
- Brands must recognize that today's consumers are digitally adept and comfortable, and online video consumption is rising. To optimize the customer journey through the eCommerce sales funnel, brands must deliver video content at crucial stages to help customers progress in their journey until they convert.
- Videos are critical in delivering great value to your customer's journey as they go along your sales funnel. But it's just one essential cog to a much broader, more holistic approach to optimizing your eCommerce sales funnel. When videos are executed strategically with buyer personas, social media, email nurturing, and data analytics, it can lead to extraordinary results.
- Schedule a demo to learn more about correlating the customer experience to business KPIs, like conversions and search optimization, with actionable, monetized insights to accelerate your routes to revenue.