Customers and prospects often ask “where should I start with eCommerce video?”
It’s a great question. The answer, of course, depends on your business. Here are some common-sense guidelines that may help.
- Take it from the top. Vilfredo Pareto taught us the 80/20 rule long ago. If 80% of your profits come from 20% of your products, start with the high revenue generators. Cover those top products with expertly produced, conversion-optimized eCommerce video to get a bigger bang than you’d get from covering your entire catalog with something less powerful. The chart below shows that difference, even with a conservative 35% conversion lift for true video.
- Let common sense guide you. Your intuition says that a product which benefits from explanation or trial in a brick-and-mortar setting will benefit more from video than a simple product that everyone understands. Customer data proves your intuition right, which informed Magellan’s strategy in selecting products. Products don’t have to be feature-rich technology products or appliances to benefit from this effect. As Invodo customer Swimwear Boutique discovered, video communicates the “sizzle” of fashion much more effectively than any other medium.
- Think in terms of categories. You don’t need to cover all products in a category, but cover enough that shoppers in a given category will come to expect video and rely on it to decide between products. We’ll work with customers to identify which categories to start with based on our experience and data.
- We know eCommerce video, but you know your business. Think about what information your customers want and what products they care about. We’ll bring our video expertise. Combining those two elements leads to great moments like this Moosejaw video. We might not have thought to add the dog groomer, but hey – they know their business and it’s a great video.
- Start somewhere. If you start in the wrong place, you realize a slightly lower ROI than you might otherwise. That’s much better than delaying starting and realizing no ROI at all while you lose customers to faster-moving retailers who have video. By getting started you’ll learn, optimize, and realize an ever-increasing ROI.
As with anything, getting started is the key – and we can help you do that. Is there another roadblock keeping you from starting with eCommerce video? Let me know in the comments.
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