Video marketing has come to be known as one of the most effective ways to showcase a product or company. Researchers Jyoti Bhardwaj and A.K. Sharma wanted to investigate exactly how video marketing benefits e-commerce and sales, and why it is so important to use.
They examined research that had already been collected by a multitude of researchers and surveys like Susan Weinschenk, Brightroll Agency, and others. From there, they compiled their findings to grasp the importance of video marketing as it pertains to e-commerce.
They found that consumers are more likely to remember a product in a video where they can see and hear rather than a photograph that they only look at for a few seconds. A video keeps their attention span and they can ponder on what they see. This then leads them to make decisions on the product more quickly. In fact, one report states that 71 % of respondents say that videos they remember watching are more likely to leave a positive impression on the company which in turn makes them more willing to buy from that particular company and keep buying from them.
From a financial viewpoint, videos prove to be more beneficial as they found that businesses who do not use video marketing are either mostly or completely “excluded from the market.” Video marketing provides the consumer with a more detailed understanding of the product versus if they just saw a picture. They found that consumers are more likely to make a purchase when they don’t have any confusion or further questions. This in turn increases sales. Companies are also able to save money when they don’t need as many customer service employees to answer a consumer’s questions.
Overall, this study proves that “companies that utilize video on their E-Commerce Platforms have been shown to possess an increased scope, greater memorability among consumers, and lower customer care costs than their counterparts.” Researchers concluded that all of these things combined have also been shown to increase sales and bring more awareness to both a product and the company that produced it.
To read the full text of the study: https://www.bpasjournals.com/admin/upload/dynamic2/13IME-51-2020_R_P90-96.pdf
Bhardwaj, J., & Sharma, A. K. (2020). How video marketing in e-commerce can boost sales. IME Journal, 14(1), 90–96. https://doi.org/10.5958/2582-1245.2020.00013.5
