Video Marketing Can Give eCommerce a Giant Platform
People spend an average of 100 minutes a day watching online videos. Every year more consumers watch videos, and social media platforms like Instagram and TikTok continue to develop their platform’s functionality. In 2020, 95% of marketers said they had plans to expand their video marketing for eCommerce.
Platforms such as YouTube constantly improve their algorithms to help users optimize their channels and expand audience reach. Video marketing increases traffic, bumps up conversions, and help eCommerce business rank higher in local searches. Since the first YouTube sponsored video in 2005, a lot has changed. Let’s take a look at this year’s video marketing trends.
It’s All About Stories
TikTok, Twitter, Instagram, and Facebook all have a version of Stories. First launched by Snapchat and later popularized by Instagram, Stories allow users to post photos and videos that vanish after 24 hours. Current eCommerce digital marketing trends indicate that when it comes to Stories, high-quality content still reigns.
Brands use stories for various reasons; to promote sales, share influencer collaborations, and direct users to businesses’ websites with the Swipe Up feature. Retail store ASOS, for example, uses stories in a variety of creative and interactive ways, from announcing sales to sharing influencer look books.
Shorter Videos Have Higher Watch Time
Each image or video clip uploaded as an Instagram story only lasts for fifteen seconds. This bite-sized watch time indicates a broader trend influenced by TikTok, whose videos are limited to one minute. 58% of viewers watch videos to the end if they are less than a minute, but only 24% will finish a video longer than twenty minutes.
Even YouTube has shortened its optimal monetization from ten to eight minutes. The short-form video should be part of your eCommerce digital marketing to leverage consumers’ limited attention spans. This type of eCommerce video advertisement provides greater freedom to produce clear, direct messaging that instantly appeals to consumers’ emotions.
The boom of Mobile for Video Content
As of 2021, the average smartphone user will have 9.5 video streaming apps installed. Smartphones allow consumers to be connected to the web at all times and are a substantial reason why video content is booming. Forecasts indicate that 2.72 billion people will watch videos from their phones in 2023.
Mobile video content varies in production quality and format. From user-generated vertical videos found on Instagram Reels to professional YouTube video series, video marketing for eCommerce offers many exciting possibilities to increase brand awareness and boost sales.
TikTok — New Player In a Video Marketing for eCommerce
Associated with Gen Z, TikTok has become the new giant in the video world. TikTok is a social network app for sharing user-generated videos. In 2020, in the US alone, it had 89 million downloads. It’s only been around since 2016, but research indicates that US influencers have a 17.99% average engagement rate, which is relatively high for a social media platform.
TikTok for eCommerce has forced marketers to reckon with the emerging 16-24-year-old Gen Z target market in digital-first creative ways. And, it’s not just traditional eCommerce stores that are jumping on board, the NBA, National Geographic, and EA Games are taking advantage of the platforms’ capabilities too.
Rise of Virtual Events and eCommerce Marketing
Covid-19 has transformed the way we live and work. Many have harnessed the convenience technology affords and pivoted towards virtual events. eCommerce virtual events will remain popular even as restrictions ease up as they allow people to conveniently attend events from the comfort of their home or office.
eCommerce virtual events cost less to produce, connect brands to customers from all over the globe and are easier to scale. Virtual events can include live webinars, conferences, workshops, and performances. A global survey revealed that 58% of respondents expected to increase their virtual event budget over the next year, indicating they are here to stay.
eCommerce video production can be overwhelming for those new to digital marketing, especially considering the number of platforms and types of videos that can be made to advertise brands and products. As a full-service eCommerce digital marketing agency, Catapult Revenue can help you integrate video into your digital marketing plan to outperform your competition. Click here to find out how our average client experiences a 4.5x ROI.