With organizations leaving no stone unturned in their quest to engage with their customers, one intuitive method that has caught on in recent times is interactive videos, especially for shopping.
Done properly, it is the online equivalent of a salesperson guiding the customer through the store, explaining the features of each product that attracts the customer’s fancy. Think about how you learn – are you a visual learner? If so, you fall into the majority, like many of our prospects.
Creating, publishing and managing such interactive videos has given Barneys an edge over its competitors. This famous New York luxury fashion retailer garnered over 100,000 video plays by launching just four interactive shopping videos, with each video recording a play-through rate of 93.6 percent on average. Revenue wise, each video generated an average of $0.87 per video play, translating to an average conversion rate of 22 percent. The latest video featuring the firm’s summer product line garnered over 40,000 plays with an average revenue of $1.52 per play in just two weeks.
The reason for this kind of success is not hard to see. A video provides the viewer a true replica of the actual location and scene in a dynamic way, something that words or static images fail to provide. Adding annotations allows the user to preview the product in almost the real sense while still getting to know the detailed product description or specs. For a fashion house like Barneys, such videos capitalize on the fact that people simply love to emulate what they see on the screen.
From a company perspective, interactive videos not only help to connect with customers at a more deeper level, but it also makes it easier to spread a uniform message or share a uniform experience across diverse social media, blogs and other online forums. Have you created an online video experience for your customers?
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