With 1 billion people using YouTube today, video is the most powerful means of spreading information to the world’s 7 billion people. And since more than 6 billion hours of video are watched each month on YouTube, that’s almost one hour for every person on this planet!
As a content marketer in the e-commerce space, I’m especially interested in watching the speed of adoption of video in online retail. Product videos offer details that static images can’t, like how someone might hold or wear the product. According to an Animoto study and infographic, 73% of U.S. adults are more likely to purchase a product after watching an online video that explains it.
A Proven Way to Differentiate
Many sites use video as a way to set themselves apart from big-name brands. Bulk Reef Supply has created more than 300 videos for its saltwater aquarium and reefing products, even branding its video channel as “BRS TV” to make it more visible on YouTube. This is a smart way to increase product discovery, establish expertise and provide affirmation to buyers that they are choosing the right product. Simply by providing the information consumers need to make the right purchase, Bulk Reef Supply differentiates itself from potentially less knowledgeable competitors.
Northwest River Supply is another business that succeeds by providing expert advice that’s typically not found on many sport supply sites. Search for “kayak” and you’ll see a menu of more than 200 videos about kayaking. You can refine the search by whitewater, tour/rec and other types of rafting sports to find how-to videos that meet your particular interest.
As mentioned in Shaun Ryan’s recent blog, “shopping haul” videos are another type of video format that retailers can leverage in 2015. As the popularity of these videos increases, so does the opportunity.
Worth 1.8 Million Words?
I’ve often found truth in the maxim: “A picture is worth a thousand words.” So naturally, I’ve wondered how many words a video might be worth. I recently found that Dr. James McQuivey of Forrester Research actually made an attempt at calculating the comparative worth – he estimated that one minute of video is worth 1.8 million words. Well, the writer in me thinks that’s too high. But whether or not his assessment is true, it’s evident that video is an incredibly effective way to influence consumers who want bite-sized bits of information and entertainment that will fit into their busy lives.