All stores want to grow their business. And as an online retailer you do that in many ways -increasing your product offering, services and site functionality. But as you grow in each area, new challenges arise, particularly in terms of logistics. Keeping track of an expanding product line and clientele demands a tremendous investment of resources.
Accordingly, with so many products to cover, and so much data to maintain, adding new tools to your website, while desirable, can seem like a daunting task, especially when you're thinking about adding online videos to your product pages. That's because adding videos period can be an intricate affair (writing the script, production, uploading, streaming, etc.).
But that's an almost secondary issue. When looking at your product catalog the biggest question is how do you decide which products to cover? I say, if possible, cover them all.
Is full product coverage even possible?
Full product coverage may seem like an impossible dream if you're thinking full video production for some 200-300 products for even a modest store. Never mind the time investment, such a system could easily end up setting you back a cool $1 million. In fact, according to a recent eMarketer report,"[a] key obstacle to greater video adoption among online retailers is the high cost of in-house video production”.
Full catalog coverage, however, is a viable option. It's just a matter of how you do it. And the way I see it is your best bet is a platform that does automatic video production (i.e. automatically generates product videos based on your existing content). For example, our company, Treepodia, does this using your existing data to create hundreds of thousands of videos in 24 hours. Part of our platform is its unique measurement system that performs A/B testing between different video versions and promotes the highest converting version. Animoto also provides an automated service producing videos from user-selected photos, music and video clips, but its focus is more on the leisure and fun video market, while Stupeflix another vendor in the video realm recently started offering mass production services as well.
Why you want automated video coverage
Besides significantly reducing the cost factor of full production videos, automated videos are far more flexible. That means, they are more able to adapt to your ever changing product line (including fluctuations in pricing and new promotions) and to the incorporation of new technologies (such as the addition of user reviews and the like to your site).
By their very nature, automated videos lend themselves to these very changes, which, as you know, are a constant and recurring phenomenon. And keeping your videos up-to-date is as important as keeping your catalog itself current, because this is the kind of information that sells.
Automatic doesn't mean robotic
The basic truth is you need to have online videos on your product pages. The flip side is, it is virtually impossible to create full production videos for your entire product line in the first place, let alone new versions to adapt to each data change. Therefore, as a growing retailer, automated videos are your only viable choice for covering the majority of your product line.
While the term automated may sound scary, conjuring up images of bland static shots and robotic voice-overs, this is not necessarily the case. Today's technology can add lots of great elements to automated videos based on any and all of your existing marketing data, using human narration (yes, automatically).
And the good news is after A/B testing that while full production videos generally convert at a slightly higher rate, when taking into account the costs of production, automated videos have a higher rate of return (i.e. more cost effective).
My recommendation - the best solution is to use a combination of full production videos for your top products and automated videos for the long tail. That way your store is fully covered in a cost-effective and sustainable manner.
About our Guest Author - Tal Rubenczyk:
Tal is the CEO of Treepodia. Prior to establishing Treepodia, Tal was the co-founder of Celebros, where he headed the marketing division for more than seven years. Tal brings his e-commerce knowledge, international marketing experience and networking connections to Treepodia.
Treepodia is a leading video platform provider for online retailers, enabling them to cover their entire product catalog with effective and engaging video content in just 24 hours. They also have a "risk-free" model where you only pay for views that generate new revenue.