Business
eCommerce Statistics You Must Watch Out For
Published
2 years agoon
There’s no stopping eCommerce. With most stores establishing their digital counterparts, there’s already a shift in consumer behavior. And if you want to venture into this industry, knowing the latest eCommerce statistics could help you formulate the right strategies. We have to tell you. The competition gets rougher and tougher by the minute.
Today, there are around 12 million – 24 million eCommerce websites worldwide. But don’t let the number intimidate you as only a small percentage earn $1000 annually. That means, there’s still a lot of potential.
Future of eCommerce
eCommerce accounts for 14.1% of retail sales across the globe. And experts believe it will increase by 22% in 2023. This is not surprising considering that most shoppers purchase through their mobile phones instead of PCs or laptops. Since it is a handheld gadget, shopping became more accessible.
And according to 99Firms, it is expected that 95% of purchases will be made online in 2040. As early as now, you should prepare for the demand. Otherwise, you will not be able to keep up, and your business might close down.
Small Businesses and eCommerce
More than ⅓ of small businesses still do not have their own eCommerce website. But there are platforms and tools that can help you set up one. Take for example, Shopify. You need to put your brand out there if you want to survive in the years to come.
Shopping Cart Abandonment Rate
Another critical eCommerce statistics is the high shopping cart abandonment rate. On average, 68.8% do not push through with their purchase. As a retailer, you must understand the reason why a potential sale suddenly stops. It could be a high shipping fee and a seemingly unsafe payment gateway, to name a few.
Take note that 23% of people will abandon their cart if you ask them to create an account before checking out.
eCommerce Shipping
Shipping plays an important role in the ecosystem of eCommerce. Most people continue with their online purchase once they see that it is free shipping. Also, 40% back out if the shipping could not make it on their expected date. And 20% will not continue to order if the shipping date is not clearly stated.
What do these eCommerce statistics mean to you?
When creating an eCommerce website, it’s more than about the design and layout. You also need to identify and finalize the logistics, including the delivery time of your products. Not doing so can make you lose a lot of potential from your business.
Consumer Experience and Sales
Instead of just looking at the Return on Investment, retailers must also look at the Return on Experience or ROX. This can help when scaling a business. Specifically for eCommerce, your ‘storefront’ is your eCommerce website. A poorly designed one can result in a bad consumer experience, which can be translated to a decrease in sales.
Speaking of experience, 53% of online shoppers leave reviews on Amazon. As most of us know, people base their decision on what others say about the product. The more positive reviews, the better. And with more than 50% of online shoppers willing to provide honest feedback, you must ensure that their experience is seamless.
Here’s another surprising fact. Around 50% of consumers shared that they will buy a product from a website’s chatbot using conversational marketing. This proves that knowing the language of your market is essential.
Your eCommerce website’s speed can also contribute to the user experience. If your website loads after 1 second, your bounce rate could increase by 32%.
Subject Matter Expert Reviews
We’ve already mentioned consumer reviews and how it could affect one’s decision to purchase. However, there are industries where people specifically look for subject matter experts to review the product or services. The top three industries are electronics, financial services, and automotive.
eCommerce Mode of Payment
Credit card is the preferred mode of payment for most online consumers. This is followed by digital payment systems and debit cards, respectively. With this data, you need to work on your payment gateway and show your customers that it is easy and safe to transact.
Social Media and eCommerce
In China alone, 55% of social media app users purchased items through the platforms. This goes to show that having your own eCommerce website isn’t enough. It’s time that you leverage the power of social media. Use its features so that you can directly persuade your visitors to make an online purchase. Proper social media marketing is necessary. This includes limiting your posts to 80 characters or less.
In addition, 25% of shoppers check social media reviews before they purchase products. That is why you need to boost your marketing efforts on the most dominant platforms.
Email Marketing for eCommerce
While most brands allot a significant portion of their budget on social media, you should not forget to work on your email marketing. More than 60% of consumers preferred to be contacted through email. It’s more personalized, and the contents are highly compelling compared to what you can see on social media.
This form of marketing contributes 20% of traffic to eCommerce sales.
Omnichannel vs. Multichannel
You might have read that your business should be visible in multiple channels. If you have a Facebook page, then you might need to have an Instagram account as well. That is true, and that’s what you call utilizing multi-channel.
However, 52% of online stores have omnichannel capabilities. This means that you can easily communicate and even track individual consumer behavior across all channels. With this, you can lift data, and at the same time, address their concerns without the need to analyze different algorithms and analytics.
Conclusion
As business owners and marketers, knowing these eCommerce statistics can help you shape your business. You can anchor your future marketing plans from these data and get ahead of the competition. And while physical stores will always be there, buffing your eCommerce strategies is one of the surefire ways to expand your operations.
If you fail to work on a good strategy, you could lose massive potential earnings. In fact, businesses have lost $756 billion due to poor eCommerce personalization. Just think about that.
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Business
Top 10 Video Marketing Agencies You Must Check Out in 2023
Published
3 days agoon
March 24, 2023If you’ve been following the latest marketing trends, you would know that video marketing is popular. Factors like lower costs, the availability of video platforms, and the rise of social media influencers helped change how consumers interact with video content. Read on to learn the best video marketing agency to help you leverage the power of video.
1. Vireo Video
If you need an expert in Youtube marketing, be sure to check the features of Vireo Video. The platform specializes in Youtube marketing and offers various video-related services, such as Youtube content strategy, SEO, and advertising. Vireo Video is trusted by brands like Eckhart Tolle and Ripley’s Believe It or Not. For Eckhart Tolle, Vireo assisted in the optimization of his videos and helped grow his Youtube channel. As a result, his channel has more than 45 million new views or an increase of more than 260% compared with the previous period.
Key Services:
- Influencer marketing
- Video optimization
- Targeted YouTube advertising placements
- Strategy development
2. NinjaPromo
Video marketing is one of the many services offered by the digital marketing agency NinjaPromo. If you’re looking for a perfect partner to assist you in reaching your desired audience quickly, NinjaPromo is one of the best agencies to work with. The company can help you create creative, engaging, and practical videos to promote your brand and increase your online presence.
Key Services:
- Video Production
- Consultation
- SEO optimization
- Explainer videos
- Event and product videos
- Tutorials
3. Moburst
Moburst is a mobile and digital marketing agency that specializes in helping businesses grow their mobile apps. They offer different services to enable enterprises to improve their mobile app performance and increase user engagement. Moburst has created over 1,500 videos that generated 900+ million views.
Key Services:
- App Store Optimization
- Video production
- Mobile User Acquisition
- Mobile App Analytics
- Mobile App Design and Development
- Mobile App Retargeting
4. Voy Media
Trusted by big brands like Lacoste, Voy Media is a full-service agency offering various marketing and creative services. Their services are designed to help businesses grow their brand. Likewise, the agency helps them generate leads and increase conversions through social media platforms. Voy Media also ensures its clients receive the necessary support by assigning a dedicated account manager.
Key Services:
- Video editing and production
- Product and lifestyle photography
- Graphic design and illustration
- Full studio production with talent and script
5. Pop Video
Pop Video was established in 2010 in Houston, Texas. They describe themselves as a business-first solution for a video-first world. Pop Video has a team of visual content creators with a specialization in video production and visual content marketing.
The agency has worked with various clients across different industries, including healthcare, technology, retail, and finance. Some of its notable clients include Microsoft, Adidas, and Coca-Cola.
In addition to its core video production services, Pop Video provides consulting and training services to help businesses develop their video marketing strategies and produce their video content in-house.
Key Services:
- Video Marketing
- Video production
- Animation
- Content creation
- Social media optimization
6. Epipheo
If you need help with educational videos, explore the services of Epipheo. Epipheo is a video marketing agency that creates animated explainer videos and other visual contents to assist companies, organizations, and individuals in connecting with their audience effectively.
Key Services:
- Social video ads
- Storytelling testimonial videos
- Animated explainer videos
- Live action videos
- Strategy and consulting
7. Early Light Media
Early Light Video is a full-service video production company that creates high-quality video content for businesses, nonprofits, and individuals. The agency is known for delivering top-notch video content that meets its clients’ needs. It was founded in 2013 by a team of Emmy Award-winning creative directors, With offices in Baltimore and Washington, DC.
Key Services:
- Video production
- Post-production
- Animation
- Voice-over casting
- Music Licensing
8. Indigo Productions
Indigo Productions is a full-service video production company based in New York City. They specialize in creating high-quality videos for corporate clients, advertising agencies, and individuals. Their team of scriptwriters, directors, producers, hair and make-up artists, and location scouts will handle all the logistics.
Key Services:
- Promo videos
- Web commercials
- Music videos
- Movie trailers
- Documentaries
9. LAI Video
LAI Video is a Washington, DC-based boutique video production company specializing in creating visual stories that inspire and engage audiences. The company was established in 2013 and has become a leading video production agency in the DC metro area.
LAI Video has worked with various clients, including National Geographic, The World Bank, Georgetown University, and The Smithsonian Institution. Their skilled team of filmmakers, animators, editors and producers work closely with clients to ensure that each video project meets their specific goals and objectives.
Key Services:
- Corporate videos and commercials
- Video communication campaigns
- Branding
- Video animation
- Marketing storytelling
10. SparkHouse
SparkHouse is a video production company based in Minneapolis, Minnesota, specializing in creating high-quality video content for businesses and organizations. The company was founded in 2013 by filmmakers and storytellers passionate about creating visually stunning and emotionally compelling videos.
SparkHouse has worked with various clients, including Target, 3M, Best Buy, and General Mills. Their talented filmmakers, animators, writers, and producers work closely with clients to ensure each video project is customized to their unique needs and objectives.
Key Services:
- Brand Videos
- Corporate Videos
- Animation
- Event Videos
- Social Media Videos
- Documentary Films
Which Types of Videos Do You Get from a Video Marketing Agency?
A video marketing agency typically provides various video types, each with a specific purpose and target audience. Below are the common types of videos you can request from a video marketing agency.
- Brand videos
- Explainer videos
- Corporate videos
- Testimonial videos
- Social media videos
- Live stream videos
- Case studies
- Reviews
- Tutorials
Conclusion
Video marketing is essential for businesses looking to engage their audience, build brand awareness, and drive conversions. As we look ahead to 2023, the competition will only continue to grow, making working with a reliable video marketing agency more critical than ever.
Business
Top 10 Video Marketing Campaign Examples You’ll Enjoy Watching
Published
4 days agoon
March 23, 2023A video is an effective form of content, and its increasing popularity has gone together with the rise of social media. However, many marketing professionals still need a video for their digital marketing strategy. In other instances, some have already integrated video into their campaigns but need to see the best results. We’ve compiled some video marketing campaign examples that could inspire you to get the best possible ROI.
1. Google Android: Friends Furever
Android’s “Friends Furever” video is a simple and cute marketing campaign. The video was shared over 6.4 million times, according to video ad tech company Unruly. Google produced a quirky video showcasing animals forming unexpected friendships. Each clip in the montage features great pairs of animals: dogs and elephants, chimps and horses, and tigers and bears.
The campaign proves that even the most uncomplicated videos can be super shareable with the proper subject matter.
Watch the video here.
2. Jeni’s Splendid Ice Cream
We encourage you to watch from the 20-second mark to see how it goes. Jeni’s Splendid Ice Cream is a small ice cream shop from Columbus, Ohio, and its YouTube channel proves you don’t need hi-tech equipment to make lovable videos. This is a remarkable small business video marketing campaign.
Watch the video here.
3. Reebok: 25,915 Days
The video features one woman’s relationship with running in reverse, from running the Reebok-sponsored Spartan Race as a middle-aged woman to birth. It’s a great way for Reebok to promote its brand mission of changing how people perceive and experience fitness at every age.
And at the end of the video, a compelling CTA reads, “Calculate your days.” After all, adding a well-curated Call to Action is one of the secrets of a successful video marketing campaign.
Watch the video here.
4. Alibaba: To the Greatness of Small
Sometimes, the most powerful messages resonate with the smallest audiences. This global marketing video is from the China-based ecommerce platform Alibaba. Alibaba’s global customers are almost as big as Amazon’s. The campaign was a powerful tribute to the role of SMBs in the global economy. Similar to a young athlete with Olympic dreams, all great brands start with an ambitious founder.
Watch the video here.
5. Coca-Cola: The Last Customer
Coca-Cola is known for heartwarming holiday videos, and this is one of the best! The Last Customer is a video campaign launched by Coca-Cola in 2020. The campaign was designed to promote small businesses’ importance and their role in their communities.
The campaign consisted of a short film about a small convenience store owner preparing to close his shop for the last time. The owner reflects on his memories of running the store and the relationships he has built with his customers over the years. As he closes shop for the last time, he is surprised by his loyal customers who have gathered to say goodbye and express their appreciation for all he has done for their community.
Watch the video here.
6. GoPro: Fireman Saves Kitten
“Fireman Saves Kitten” is a video campaign launched by GoPro in 2013. The campaign was designed to showcase the power and versatility of GoPro cameras in capturing dramatic and inspiring moments.
GoPro shows a powerful example of how brands can use their products to tell compelling stories and promote meaningful social causes. It was a testament to the power of video content to engage and inspire audiences. Moreover, it helped to cement GoPro’s reputation as a leader in the action camera industry.
Watch the video here.
7. Nike Women: Better For It
Suppose your campaign is a powerful message of encouragement and empowerment for women. In that case, The “Better For It” campaign encourages women to embrace their imperfections and to push themselves beyond their comfort zones. The campaign’s tagline, “If you’re not failing, you’re not trying,” aims to motivate women to take risks and persevere through challenges.
The campaign also includes a digital community where women can connect and share their stories of progress and inspiration. The community features a range of resources, including workout routines, training tips, and motivational messages.
Overall, the Nike Women “Better For It” campaign is a powerful message of encouragement and empowerment for women of all ages and backgrounds. It seeks to inspire women to push themselves to be their best physically and mentally and celebrate their achievements along the way.
Watch the video here.
8. BuzzFeed for Purina: Puppyhood
BuzzFeed did a great job writing a script that takes all the classic puppy stories you’ve heard and turns them into a delightful tale of a man and his dog spending time together.
Although it’s evident to today’s trained consumer that Purina’s Puppy Chow brand is behind the video, the product placement is so subtle that it’s not bothersome. Video marketers, take note.
Watch the video here.
9. Intel: ‘Meet the Makers’ Series
Intel’s five-part “Meet the Makers” series aims to highlight the stories and innovations of people who are using Intel technology to create new and exciting products. It features videos showcasing different makers and their projects, from artists to scientists to entrepreneurs. So, if you’re looking for an effective and engaging way to advertise your product or service through video, the video ad is a good inspiration.
Watch the video here.
10. Google Earth: Homeward Bound
The Google Earth: Homeward Bound campaign is a marketing campaign that aims to raise awareness about the impact of climate change on the planet. It is also meant to promote the work of Homeward Bound, a global leadership initiative for women in science.
By inserting their product into a story of loss, love, and restoration, Google Earth successfully positioned its capabilities as life-changing — but it doesn’t feel too showy. The video makes you think that Google Earth isn’t out to make money, but rather, they’re out to build a service to improve the lives of their users.
Watch the video here.
Conclusion
Based on the examples above, the best video marketing content is engaging, informative, and resonates with its target audience. It should tell a story, evoke emotions, and offer a unique perspective or solution to a problem. Businesses and brands can build brand awareness and loyalty by creating high-quality video marketing content that connects with their audience. It ultimately drives sales and revenue.
Now it’s your turn. Video can do wonders to increase content engagement and clickthrough rates. Use these marketing videos as inspiration, and create fantastic visual content. These video editing tools can make your video content creation easier.
Business
Why Use Video Marketing: 8 Compelling Reasons to Convince You
Published
5 days agoon
March 22, 2023Video marketing is one of the latest trends in business strategy. As it progresses rapidly, 83% of businesses believe that adding videos to their advertising and marketing strategy gives them good ROI. Do you still have doubts? Why use video marketing for promoting your business? The answer is simple. Adding video to your promotion checklist is worth it. Not only because everyone is doing it but because the video is an excellent digital marketing tool. Here are eight reasons to convince you to start working on your video marketing efforts.
1. Video Increases Conversions and Sales
Videos are crucial to the online customer journey and can make you serious money. Consider adding a product video on your landing page and increase conversions by 80%. The percentage shows that people who watch your videos are more likely to purchase your product or service. Wyzowl’s November 2022 survey shows that 89% of people say watching a video has convinced them to buy.
2. Video Builds Trust
Trust is the cornerstone of conversions and revenues. However, building trust should be the ultimate goal. The idea of content marketing relies on trust and creating long-term relationships. That’s why video content is likely to engage and convince the audience.
YouTubers have become the most influential social media personality when discussing audience segmentation to help you promote your product or service. So, if you decide to invest in content marketing, you must also be serious about video marketing.
Promotional videos can foster trust as well. Some consumers are still skeptical about buying online products and services because they fear fraud and cheating. But compelling marketing videos present your products in a conversational form.
Overall, video content is an effective way to build trust with your audience. It allows you to communicate authentically, transparently, and credible, create an emotional connection and establish consistency with your brand.
3. Video Ranks Better in Google
Video content can rank better on Google due to higher engagement rates, improved user experience, diversified content, social signals, and video SEO. You should create and optimize video content for a higher ranking in Google search results.
One of the factors of Google’s algorithm for search rankings is “dwell time,” or how long visitors stay on your website. This may also be called “long clicks vs. short clicks.” If people spend a lot of time on your website, it must have quality content. A short, compelling video is a great way to capture viewers’ attention.
4. Video Shows Higher Return on Investment (ROI)
Statistics show that 83% of companies believe video provides a good return on investment. Even though video production is yet to be the easiest task, it can generate more revenue. Plus, online video editing tools are constantly evolving and have become accessible. Even your smartphone can make decent videos already.
Another good news is that your videos can be imperfect. It’s the content that matters! The latest research shows that users are mostly put off by videos that need to explain the product or service more. Low quality and poor design only matter a little. So the video is like pizza. Even if it tastes terrible, it still looks pretty good.
5. Video Marketing is Versatile
Video marketing is a versatile tool that can be used to achieve different marketing goals. Video can work well when launching a new product or service. More businesses using video marketing said they have an explainer video on their homepage.
You can create animated videos if you’re trying to explain a difficult concept to your audience. Animation can bring ideas to life that no text or live video can. Besides, more than boring talking heads are needed to break through the clutter. Animated videos give a perfect mix of entertainment, education, and simplicity. And they work.
6. Mobile Users Love Videos
Video and mobile go hand in hand because people enjoy watching videos on the go. And as the number of smartphone users continues to increase, the video audience keeps getting bigger and bigger.
Google says smartphone users are twice as likely to watch videos as TV viewers. Likewise, mobile phones are more accessible than desktops, where viewers can easily connect to brands that show video content or ads.
The keyword here is convenience. Videos are easy to consume on mobile devices, requiring minimal effort, and can be viewed on the go. With the increasing number of mobile users, video content has become a popular and convenient way to consume information.
7. Video Marketing Captures a Wider Audience
Video content is an excellent tool for learning, but it’s also super easy to consume. In today’s fast-paced world, people don’t have enough time to read long product descriptions or service manuals. The modern customer wants to see the product in action. This trend has become one of the most fundamental driving forces in video content marketing.
Video marketing can capture a broad target audience and works on many levels, even the laziest ones. Ensure you target not only the eyes but also the ears of the potential client. Your competitive advantage gets double power!
8. A video is an Effective Tool for Social Media Marketing.
Social media channels also encourage video content with their new features. Plus, YouTube is the second most popular social network in the world. Video content is more likely to be shared on social media than text or static images. This means that videos have the potential to reach a larger audience than other types of content.
Conclusion
Video advertising is becoming more and more affordable and widespread. It’s an excellent way for marketers to reach people. It is easier than ever for businesses to create and share high-quality video content. We believe this article helped wipe out your doubts and answered the question, “why use video marketing.”