The pandemic has resulted in a hesitancy to venture out and buy in-store this Christmas, with one third of festive shopping set to take place online. In fact, it’s expected consumers will spend 25% more on ecommerce this year than in 2019.
As a result, digital competition is tougher than ever. To outpace rivals and drive revenue, retailers must do more than just dial up their online communications. They need a robust strategy for enhancing engagement and conversion rates.
One key component of this is interactive video. By creating more enjoyable experiences, interactive video significantly increases the chances of consumer connection and purchases; making it integral to any marketing initiative and especially vital during the season of giving. That’s not to mention the opportunity to gain an abundance of valuable insights.
Streamline the consumer journey
Let’s face it, basic ‘clickable’ ads that take consumers to generic websites and lengthen the journey from inspiration to purchase, no longer meet consumer needs. We’re living in a fast-paced society where instant gratification is in high demand, which means quick, simple, and seamless online shopping is essential to win and keep attention — and boost sales.
As a bite-sized, entertaining and easy-to-consume medium, video can be highly effective in tackling this challenge. Its power is even greater when merged with ecommerce in the form of shoppable advertising that allows for in-the-moment buying via a single click.
Inserting interactive hotspots within video makes it easier for consumers to explore items that pique their interest. Combined with direct in-cart integration, it also minimises the conversion gap by enabling them to purchase immediately, without leaving the video or being redirected to another site; reducing the likelihood of frustration and drop-offs.
For example, that might involve adding hotspots to products featured in a promotional video for Christmas leisurewear; enabling consumers to instantly click on their favourite festive pyjamas and open up overlays containing instant ‘buy now’ options or further information, such as prices and sizing.
Know what gets the clicks
To maximise the impact of their video ads, retailers need deep understanding of which elements spark individual interest. By leveraging smart tools to evaluate how consumers engage with digital content, they can obtain a granular view of what works for each consumer. This provides the ideal foundation for personalisation.
For instance, running advanced artificially intelligent (AI) analysis of consumer activity can generate rich insights into unique habits and tastes; including the hotspots they prefer and dwell times. This detailed data can then be used to inform real-time adjustment of messaging, audio and imagery that increases personal relevance; particularly if ads are combined with tailored purchase suggestions, fuelled by computer vision technology with the ability to automatically recognise specific products and apply hotpots.
Despite recent turbulence, there is plenty of scope for retailers to have a very merry Christmas by tapping the rising appetite for online shopping. But success will depend on taking the right approach to attracting consumers and optimising conversions. By incorporating shoppable elements into video campaigns, they can deliver streamlined and valuable experiences that simultaneously harness consumer attention and produce the refined insight needed to continually enhance their video ad effectiveness.
To find out more about incorporating shoppable elements into your video campaign to boost conversions visit onedash.com.