Due to the pandemic that has shaken the entire world no industry was left unaffected. It was a challenging year for retailers where the acceleration of digital initiative wasn’t quick. One of the best things that have been rolled out is the adaptability of the retail sector. That delivers online solutions to close the gaps with the customers.
From big brands to small retailers. All of them have adapted their business models to leverage Direct-to-consumer (D2C) by focusing on eCommerce. As a new way of maintaining competitive advantage, driving revenue, and engaging. The customers when the traditional retail channel is not available. So, with this article are going to share with you the importance of video role in the e-commerce marketplace and how to start with an OTT app development In USA software for a video streaming channel.
Humanizing the role of Video in an Ecommerce Marketplace
The concept of live-streaming and ecommerce. Which has been driven out of China is now gain strong traction in the United States. Livestreaming has bridges the gap of geographical location that is no longer a barrier between social, entertainment, and commerce through real-time experience between the consumer & seller.
Even the brands like KitKat and some others are experimenting with live-streaming as they emerge as stalwarts as an avenue to drive mindshare, deliver experiences for customers, and build loyalty that ultimately helps boost sales.
Nike, Adidas, Sugar, Bombay Shaving Company, Wakefit, Mamaearth, and some others have recognized. The advantages of D2C and generated 50% of the revenue directly by engaging the customers.
From a customer’s point of view, this not only has increased. The convenience to shop from anywhere but also create a seamless experience from the first to last click.
Talking about the benefits of a retailer, then it has increased the exposure that allows them to:
- Target potential customers
- Create unique interaction
- Increase user engagement and drive conversion
- Helps to build loyalty
- Provide a key insight to customers through the use of data & analytics
Also, with the help of video marketing on the personal streaming platform, the retailers can establish a faster & richer connection directly with the audience.
It’s important that the business owner must understand the difference & behavior of the consumers both in-store and attracting a new prospect. That’s the reason the brands must be agile to innovate. Leverage the relevant technological solutions like the video that supports the endeavor.
Role of Video Marketing in Purchase Journey
In the past recent year, the growth of video has significantly increased at the different levels of the customer journey that creates an immersive customer experience.
Pre-Purchase
- The video is predominantly use to search and discover. The products during the pre-purchase stage through social media, websites, and email newsletters. It allows the customers to visualize & uncover the features and advantages more contextually.
- Livestreaming is becoming an emerging trend to launch a product virtually or showcase the event to engage new & current audiences and with a good OTT platform development app, you can do it.
Online Purchase
- Video marketing is also use to showcase the products and services to drive increased cart size.
- A fashion brand can show a video of a mannequin wearing the outfit. So that the customers can get a great idea of the actual look and fit and can compare with themselves. That is a better way of marketing and driving sales.
- Companies can also use interesting shoppable videos with an option to quickly add-to-cart option to deliver a seamless experience.
In-Store Purchase
- No matter if the shopper is in the store, he/she always wanted to try the product and video content can be proved to be more interactive. This could be either how to use demos, customer testimonials, features, and benefits, or some other.
- Also, the video plays a great role to build knowledge of the staff, upskill staff on the products and services provided by the business.
- With this form of visual storytelling, it’s a great opportunity for the buyers to test out the products in different settings. Taking an example of a furniture store, that can show how the glass table will look in the living room through video which helps the customer in making an informed buying decision.
Post-Purchase
- This stage is all about supporting the customer with all the relevant information about the products & services that were purchased. Unboxing tutorials, the do’s & don’ts, how-to videos can effectively educate the customers and also give them a reason to watch the video which ultimately increases user engagement on the streaming channel.
- Moreover, the brands are using video for advocacy, particularly the user-generated video content for reviews or solutions in action.
What’s next?
Retailers are looking to differentiate themselves from others in all possible ways, and emerging new trends can effectively engage & interact with the consumer through OTT platform development software like Enveu.
It is SaaS CMS software that helps the users to build a streaming platform from scratch. With robust infused features you can create an interactive streaming platform very easily.
With this OTT app development, you can go live on 12+ different platforms simultaneously. You can get the report of your videos with analytics & reporting features and also monetize the videos for extra income.
So, if you are also into the retail business, then make sure to help adopt and unlock the power of video marketing across the offline & online channels that create a great experience for the customers.
