Shoppable video enables brands to create direct purchasing opportunities for customers. The use of shoppable video bridges the gap between marketing and purchasing, creating brand loyalty through an interactive purchase process.
This means that brands can use shoppable video to create an immersive shopping experience without needing to navigate away from the platform they are engaging on. This interactivity also creates an opportunity to maximise brand engagement time from video; something that many brands fail to achieve.
In an age where consumers are continuously increasing their expectations and seeking brands with exciting messaging and stand-out features, this exciting form of media is leading the way. By embedding shoppable links for viewers to interact with, viewers are able to engage with the brand while viewing advertising, enjoying a frictionless path to purchase.
Highlighting its importance, 91% of buyers prefer visual and interactive content instead of traditional formats. Video is also the most desirable form of content, with 54% of consumers saying that they want to see video content from a brand or business they support.
VPAID stands for ‘video player ad interface’, meaning consumers can interact with the video ad unit itself, rather than having to click through. By using VPAID, brands can display rich media and interactive advertising that excites consumers. Both ‘video on demand’ (VOD) and ‘video online’ (VOL) can be dynamic and use the VPAID format.
When using VPAID formats, consumers can interact in many ways, giving brands the chance to get creative and make memorable, on-brand, interactive content.
Brands can make the most of VPAID by allowing viewers to:
There are many benefits for brands that choose to implement shoppable video content, including:
Shoppable video has been proven to grow sales, with Dr. Brandt Skincare reporting a 500% increase in direct sales conversions when testing social shoppable video.
By making a video shoppable, Dotter analysis of multiple campaigns shows an engagement increase of 200-300% in comparison to a static pre-roll, where a consumer is required to click out to an external platform.
Reduced cost per engagement (CPE)
While the cost of dynamic video is more expensive than commonly found pre-roll/VAST tagged video, the benefits outweigh this. Dotter clients see the CPE being as much as 75% lower for VPAID media than it is traditional pre-roll media. With the engagement rate going up so significantly for VPAID, the return on investment is therefore more cost-effective.
Completion rates and dwell time
Consumers that are fully engaged through shoppable video are more likely to watch to the end of the video, also increasing dwell time for those who engage. Dotter has found that consumers spend an additional 30-90 seconds of brand engagement time spent focused on shopping information when it is available and it captures their attention.
Under Armour reported a 15% decrease in drop rates, as well as an increase of 18% in product consideration when utilising shoppable video, demonstrating the effectiveness of this form of marketing.
Offline and future impact
Regardless of whether a purchase is made immediately or not, the consumer will become more aware of the brand and product as a result of this increased brand exposure and engagement. In turn, this influences shopper behaviour drastically while increasing the likelihood of both online and offline sales in the future.
Improved customer experience
Shoppable video can work to create a fantastic customer experience, keeping customers on the same platform that they are familiar with. It also shortens customer journeys, enabling them to act while interest levels are high and make quick purchase decisions. As an example, this could include the viewer clicking on ‘add to basket’ during a video, continuing to watch until the end when their choices are displayed with a ‘buy now’ button.
The performance of shoppable video is fully trackable, highlighting impressions and other activity information. This can be used to continuously improve and understand demand, tailoring campaigns to deliver the best possible return on investment (ROI).
If you’re looking to take your marketing to the next level or want to learn more about how shoppable video can benefit your brand, contact us on email@example.com.
Author: Holly Worthington