Mobile Video Powers Online Retail

“The shopping experience has evolved. No longer can we look at shopping in silos, or in terms of in-store  versus online. Instead, we have to consider the convergence of these channels, as the digital consumer demands a truly digital experience,”  Jill Puleri, IBM Global Retail Leader.

RetailsalesgrowthGrowth in Mobile Commerce with retail sales increasing by 31% compared to all e-Commerce growth of 20 %, points toward the rise of Mobile Shopper Online. This is coupled by Growth in visitors from Mobile Devices to Local search sites and Apps, according to comScore.

Adding to the Local Search on Mobile Devices the trend for Mobile Commerce is further fueled by Growth in Mobile Advertising.  Google’s $14 billion in sales in the latest quarter, mobile contributed 20 percent to 25 percent to YouTube, as much as $350 million in sales probably came from mobile video ads. According to Bloomberg YouTube has tripled advertising sales on mobile devices in the past six months.

YouTube has automated purchasing Mobile Advertising as a part of Advertising Mix where Brands can choose to not split their advertising based on the devices.

At least 70 million people in the U.S. were on the YouTube app in March, up 42 percent from a year earlier, according to Neilsen.

Key Steps to  Video Content Strategy

1. Product Video boost Online Conversions

Using data collected from a number of sources, SundaySky, a video-platform provider, recently reported that 48 of the top 50 online retailers were using product video on their sites to help sell products and increase revenues. By comparison, only 16 of those retailers, according to SundaySky, were using product videos in 2011.
Some published reports claim that adding descriptive product video can boost conversion rates anywhere from 10-to-40 percent.

2. Video Advertising is important for interest creation

According to data from trend-tracking firm comScore, consumers (potential customers) watched more than 11 billion video advertisements in October 2012, tying an all-time record for the most online video advertisements watched in a month. That all-time record was first set in June 2012, just a few months earlier. And some expect 2013 video ad consumption to reach 12 billion per month for more for some peak months.

3. Engage Customers and Online visitors with Video content that is entertaining

Retailers can engage with entertaining Online Video posts that will encourage repeat visitors to their Online site and boost subscription to the YouTube channel.

Key Takeaways

1. Develop a Video Marketing Strategy

Video Marketing requires seeking out information areas that are critical for online sales. Categorize your existing video content based on product information and advertising. Understand what is yielding the best returns and how the same can be optimized for more visits and conversions.

2. Strengthen your Mobile App strategy

Appear in Marketplace Apps
Develop a Basic Catalog App
Basic catalog App downloads all products that are available while the app 
downloads other information helping you promote your key products.
Advertise in Apps 
Many popular mobile apps make money from selling advertising space to networks or individuals. These mobile ads can be a great way to either promote a mobile app orsell product directly.

Amazon, recently released Mobile Ads API to help developers add mobile ads to Android and Kindle devices. This API is also an opportunity for online retailers to place ads in mobile games or other mobile applications.

3. Use Vine Videos for mobile Commerce

4. Develop Mobile Commerce success metrics

Source: Practical ecommerce , Bloomberg