Studies show that 87% of Australians watch online videos daily, revealing video marketing as a must have retail strategy. Thanks to the implementation of video content, brands such as Sephora have seen an 80% lift in their brand consideration and Wayfair has increased their revenue by 3x.
More and more we see retailers like Sephora and Wayfair stating their success is a direct result of their video marketing strategies.
“Video marketing is an essential marketing tool that all retailers should incorporate into their overall marketing strategy. The data shows us video marketing is no longer a ‘good to have’ but rather an essential marketing tool all retailers should be using to increase sales, profits, customer engagement and brand awareness” – Peter Szabo, Director of The Crowd Co Agency.
In today’s digital world, shoppers are bombarded with advertisements and are increasingly harder to please. They expect content to be authentic, entertaining and educational whilst also being heard and valued by brands. Research by Hubspot shows that 83% of marketers say that video marketing gives them a strong, and continuously increasing ROI.
Although most retailers can report good ROI on their video marketing efforts, it is getting increasingly difficult to stand out.
Google states, ‘how to videos’ tend to perform well as they exhibit strong authenticity and are relatable for shoppers. On the flip side, a Facebook study revealed that up to 74% of the value is delivered within the first ten seconds, which requires storyboards to be carefully constructed to fit into the overall strategy.
Using data, retailers can study their individual shopper’s interests and where they spend their time. Then create digital and video content that adds value to the individual, which also has a subtle but effective sales layer, that increases the individual’s motivation to buy.
It’s crucial that retailers don’t take a shotgun approach to video content. At The Crowd Co we are not just remarkable creatives, we are driven by data and prolific in adherence to our core belief: Right Message, Right Person, Right Time.