Retailers will take the lead in digital ad spending, shows the latest research done by eMarketer. Digital ad spending in the U.S. is expected to reach $58.61 billion this year, and the predictions of eMarketer are that retailers ad spending will account 22% of the total figure. Retailers advertising expenditure will go up to 17% compared to the previous year, reaching $12.91 billion. Retailers are investing more aggressively in mobile and programmatic display ads, and the predictions are they will spend almost twice in mobile advertising compared to any other industry. As for video content, eMarketer states retailers will account for 19.9% of the total video ad expenditure ($7.77 billion). Here is some more data that show the importance of video content in retailer’s marketing strategy.
A survey from Liveclicker points out that videos are becoming a necessary part of product landing pages on a retailer’s website. Including a video as part of a product landing page could increase the average order value by 50%. The results of Liveclicker‘s survey show that retailers who uploaded video to most of their product pages had conversion rates 80% higher than the ones with product videos on less than 25% of their landing pages.
Approximately 81% of all shoppers online, research products before buying and shoppers who watched a product-related video were 1.6x more likely to buy the product than shoppers who didn’t watch a video. The stats show online-only retailers saw a 1.7x lift from video viewers, compared to multichannel retailers, who saw a lift of 1.2x. One more interesting fact about the influence of video content on online shoppers is that 52% of consumers say watching product videos makes them more confident in their online purchase decisions.
Just because you have placed your product video on a landing page on your site doesn’t mean you should ignore the benefits of the social sharing aspect of that content. Online video ads are considered to be one of the fastest-growing ad mediums, and compared to the other media, video has more potential to be shared and go viral. As video content is considered to be one of the most powerful selling tools in the advertising industry, and sharing videos on social networks is not only the cheapest, but also the smartest way of promoting your business, our Brid team has decided to offer our users a new social sharing opportunity – using our Brid.tv online video player, they can fully enjoy social sharing potential and promote their video content both on Twitter and Facebook.