2020 has been a year of change – a change in direction, priorities and opportunities. But, if there’s one thing we’ve learned, it’s that video consumption isn’t losing momentum any time soon. As the global pandemic caused havoc worldwide, time that would have once been spent at restaurants or going to live events, was instead spent on the sofa, hunkering down with video entertainment.
Therefore, it’s no surprise that a recent Global Web Index report found that over 80% of audiences have consumed more content since the outbreak. While consumers have more time to view content, what’s missing is an experience that truly grabs their attention and drives meaningful interactions.
New era of commerce
The future of commerce is driven by brands creating a seamless and engaging viewing experience. Today’s consumers are coming to expect these frictionless experiences. Brands that create the most seamless viewing will be able to stay ahead of the competition and capitalise on the rise of online video.
According to Mconnectmedia “a minute of video is worth 1.8 million words”. This highlights the overwhelming power that video has to entice customer engagement. Most customers learn better when they can both hear and see information, as it translates better to their way of thinking. It’s evident that brands need to utilise videos in their marketing strategy and leverage advertising best practices to engage their customers whilst they watch. In fact, videos will create 85% better brand value and an 80% increase in eCommerce sales which will help diversify brands against its competitors. But what can brands do to take video to the next level and drive real ROI?
Power of interactive video with shoppable ads
Video content has proven time and time again that it should be an essential part of every commerce strategy. It’s unique ability to interact with viewers through visual, sound and movement offers a level of connection that isn’t possible on other mediums. Utilising interactive videos with shoppable ads is one approach brands can take when looking to drive ROI and engagement. Not only do shoppable ads allow brands to better connect with consumers, but they also create opportunities to drive valuable returns. Once viewers are locked in to the video content, they are in the prime position to engage with a brand and make purchases through an interactive ad, rather than leaving the video to complete the transaction.
Shoppable ads eliminate the long sales journey of the various hoops to jump through. Instead it provides clickable content for consumers, which creates a shortcut and a streamlined purchasing journey, as well as improved customer experience. This increase in efficiency will drive ROI and keep customers coming back for more. In addition, it will drive engagement to other links or areas on the brands website, increasing overall web traffic and building brand awareness.
But brands are still yet to make the most of shoppable ad’s potential. As it is proving to be effective at driving meaningful interactions and reaching a huge audience, many brands can no longer afford to ignore the new era of commerce.
Providing engaging experiences for online shoppers
Research shows that customers are exposed to on average 5,000 adverts a day which is why it’s vital for brands to break through the noise to drive meaningful and interactive engagements. This is supported by Facebook’s recent report which found that shoppable video ads drive more interaction and traffic than any other forms of content. Not only does this suggest that shoppable ads are one of the most effective methods in driving engagement, but also securing long-term ROI.
For brands to further amplify their marketing and drive powerful messages, it could consider implementing influencer-led ads, as they will reach a larger audience and drive further interactivity, but why? Influencers are trendsetters that consumers trust to identify the best products to buy. Brands can choose to work with authentic influencers to educate customers about the product propositions and drive sales conversion in one fell swoop. They can create effective shoppable ads that include a promo code or unique link to the website that drives audiences to make purchases.
Therefore, brands should consider using shoppable ads alongside influencer marketing to create a ‘click-to-buy’ action. These types of ads can be used across all platforms to create an engaging and interactive journey for customers – from start to finish. The interactivity aids product purchasing, builds engagement for customers and increases brand awareness which will give brands a huge advantage over their competitors.
Shoppable ads with personalised advertising
Alongside all of this, the shift of power from brands to digitally savvy consumers means that it’s all about finding the key opportunities to talk to the audience. Brands need to understand their target customers, using these insights to tailor shoppable ads and make recommendations based on what their audience has previously consumed. Personalised content will not only encourage consumers to engage with the advert and influence their purchasing decision, but it will keep them coming back for more.
Digital Commerce 360 stated that nearly 30% of shoppers are likely to buy from an ad if it is personalised. This is supported by further research that states 31% of individuals are significantly more loyal to a brand if an advert is personalised to them and 40% of people have directly made a purchase due to a personalised advert. Therefore, targeting personalised shoppable ads to the right audience will increase clickthrough rates, build better engagement, as well as improve brand credibility.
What does the future hold?
It’s clear that brands need to step up their game to grab customers attention and drive meaningful interactions. Interactive video accompanied with shoppable ads allow brands to close the gap between inspiration and purchasing. They can also take this one step further by creating influencer-led memorable content to engage with the customer and create a unique purchasing experience. Personalisation is also key, as it enables brands to better identify who might be interested in their ads and break through the crowded marketplace to build a connection with their target audience.
With video content established as the most effective way to engage with a consumer, making those videos shoppable is the next logical step. Brands can create a personable and powerful platform to drive real ROI and reach a larger audience. Shoppable moments are quickly going to become one of the most successful marketing tools in our next era of e-commerce. And it’s up to brands to take the leap into the future.