Online video continues to gain traction and popularity across the web. ComScore recently reported 170 million U.S. Internet users watched online video in November 2009, with a total of almost 31 billion videos viewed.
These are big numbers. 170 million people translates into 340 million eyes watching online video (give or take a few for all the pirates out there). The majority of these eyes, 39.4%, are watching video on Google sites such as YouTube, and others are entertaining themselves on sites owned by Hulu, Microsoft, and Yahoo.
To keep these people happy and watching, fresh content is needed. Based on the 31 billion online videos viewed, I’d say the demand is being met, and online video is being produced and pushed to the web quickly to satiate the video-hungry. My automatic thought is: With such a large and eager market, why has online video been so hard to successfully monetize? YouTube, for example, has millions of viewers and videos and is arguably the hub for online video, yet they still have not turned a profit.
When it comes to making video profitable, I like to think of online video as a unique engagement tool and NOT as a commodity. When effectively produced and distributed, video indirectly monetizes itself. Video is complex in the way it reaches, engages, and communicates with viewers, and the effect that video has on a viewer is where the value lies.
At Invodo, we see the benefits that video can have in the eCommerce space. A tool that conveys the features and benefits of a product, gives purchase cues to consumers, and solidifies a brand’s image all in one little player is an absolutely powerful thing. We produce, distribute, and manage video to help retailers and brands sell more, and it works. With 170 million US internet users watching 31 billion videos, video is without a doubt changing online behaviors and the overall eCommerce landscape. Don’t miss out!
Happy Holidays and New Year!
Even though New Year’s Eve is only days away, I’m sure many people have yet to determine their New Year’s resolution. Yes, resolutions are cliche and very rarely executed, but this year there is one resolution we can all make that will benefit everyone in the eCommerce space. What, you might ask?
To get conversion driven eCommerce video on as many eCommerce sites as possible!
This is by far the best resolution to date. Not only is eCommerce video production and distribution easy to accomplish with Invodo’s complete video solution, but video helps manufacturers and retailers sell more while engaging and converting consumers. If there is one thing to change about your website for 2010, it’s adding video.
Check out how to create and syndicate eCommerce video for your business through Invodo. Also, enjoy some pictures from Invodo’s holiday party!
The title pretty much sums it up.
The way to make effective eCommerce video that online users will watch is to keep them simple, short, and informative. Jason Kincaid of TechCrunch recently wrote, “The Underutilized Power Of The Video Demo To Explain What The Hell You Actually Do.” Because most information hunters are quite lazy, especially consumers, it is hard for companies to convey their entire value proposition through just text.
Therefore, why write what you do when you can show it through video! Video has far more advantages than a block of copy. If done correctly, video can be interactive, engaging, serve as an additional branding opportunity, and better convey a message that could take 5 pages of text to communicate. And let’s be honest….. who is going to visit a website and read 5 pages vs. watch a video?
In order to jump the “lazy hurdle” and break through online noise, companies and brands should utilize video to educate and engage their audiences. As Invodo has previously defined here, eCommerce video is the ideal tool for brands to use to explain their products to consumers and increase online sales. Sure, eCommerce video might not have all the glitz and glamour that highly produced commercial content does, but that is what makes them work. Consumers don’t want to be sold to, they want to be informed.
To be effective, utilize eCommerce video that is authentic and feature focused and stick it on a product description page! You inform the consumer at the point of purchase therefore selling to them under the guise of a thoughtful and nice manufacturer who was so kind to put up such a beneficial video.
If you K.I.S.S. and place videos in the appropriate location, you will be able to fully utilize the power of video. Check out how Invodo can help and be a complete video solution for both manufacturers and retailers.
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