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What is Video Commerce and why is it so great for your Business?

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Video Commerce – we’ve all heard of it, but what is it really? We take a quick look at this booming marketing channel and explore how it has evolved to become your business’s  most significant opportunity.

Video commerce is defined as “The practice of using video content to promote and sell commercial products or services on the internet.” Simple enough, right? Well, not really. You see, video commerce is such an essential element of the e-commerce organism that it is becoming the dominant content medium consumed online. In fact, as many of 62% of online shoppers will watch a video product review before even making a purchase, while 84% of surveyed consumers are far more likely to purchase after watching the video promoting its brand.

Just think. Facebook, Instagram, Yahoo! These video-dominated sites and platforms were once text and image-driven content sources. But now, with 5G and fiber optic tech taking bandwidths to stratospheric capacities, we’re turning to the richest, most colorful, entertaining, and engaging information medium available – video. 

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From Humble Beginnings

Video commerce is not unique to the internet. TV commercials were the first forms of video commerce, with the first TV ad – a watch advert aired during a US baseball game – running more than seven decades ago, back in 1941. This 10-second black and white one-liner sparked a revolution in marketing and, later, an e-commerce that is only really heading into full swing today.

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First television advertisement – Bulova – Everything has its first time YouTube Channel

While TV is still ahead in the digital content war, it’s only a matter of time before internet and streaming viewership surpasses its aging compatriot. Already, companies are spending far more on online advertising than TV ads, but there is more to video content than the auto-playing ads you see on the right-hand side of the screen.   

Benefits of Video Commerce – The gift that just keeps on giving

  • Video Boosts Conversion Rates – Massively. Video has the potential to increase conversion rates by as much as 80%! This means more customers are spending more money on your business.
  • Video is Magic for your Brand – Video content allows you to show exactly who you are. They allow you to express the essence of your brand in a way that other mediums can’t. Videos expand your ability to interact and engage with your customers by grabbing their attention and keeping them well, engaged!
  • Search Engines Love Video – Search engines are looking for results that keep people glued to their screens for as long as possible, and nothing does this better than video content. Google’s algorithms are constantly changing and even driving the migration towards video.
  • Video Builds Trust – Videos have the power to communicate exactly who you are and what your brand stands for better than any paragraph or slogan. People are more inclined to believe what you have to say when looking at your face rather than reading something anyone could have written. 
  • Everybody loves video… E.V.E.R.Y.B.O.D.Y. – If you consider that videos are shared 12 times more than links and texts on social media and that video will constitute more than 80% of all internet traffic by 2022, it becomes clear that video commerce is already at a premium.

Video Commerce – Welcome to the Future

Unless something bigger, better, and brighter comes onto the online scene, video commerce is going to stay at the top for a while to come. Already the dominant form of media consumed today, video content is king, and the benefits of infusing video into your e-commerce mix are unmistakable. Since its humble beginnings a lifetime ago, video commerce has changed and evolved to such an extent that it has become essential to commercial success, both on and offline. So, if you haven’t already perfected your video commerce strategy, take a look at our quick and easy formula on how to go about creating a video for your business that works.

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Video Commerce – Vudini

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