Retailer Videos Find Audience on YouTube
Online video is a big deal and becoming bigger based on the
latest from YouTube.
The website, celebrating six years online this month, reported
the number of daily views it generates has moved past the three billion mark,
a 50 percent increase over last year. As a release to announce the accomplishment
the equivalent of nearly half the world’s population watching a YouTube
video each day, or every U.S. resident watching at least nine videos a day.”
on the site is also exploding, with more than two days worth of video being
uploaded to the site every minute. That number represents a 37 percent jump
over the last six months and 100 percent over last year.
The numbers of merchants
and the views they generate on YouTube has taken off in recent years, with
chains including Best Buy and Walmart creating multiple video channels.
of online video, in general, continues to increase with 73 percent of U.S.
sites using video on company sites as well as YouTube, Facebook,
etc, according to eMarketer.
Craig Wax, CEO of Invodo, told eMarketer, that
retailers are using online video to improve the customer experience. “From
a quantitative perspective, they’re
looking to increase sales conversion rates and at the same time drive more
traffic to their site. They’re able to do that because of video’s
impact on SEO. They’re also looking to decrease the costs associated
with product returns. When people watch videos about a product, they’re
typically much less likely to return it. Video can remove a lot of the uncertainty
people have in buying certain items online.”
- Thanks, YouTube community, for two BIG gifts on our sixth birthday! – YouTube
- Video in Ecommerce: Success Strategies Come into Focus – eMarketer
- Online Video for Retail Gains Sophistication – eMarketer
Discussion Questions: Do you believe online videos should become essential to retailer marketing and communications plans? How should third-party sites such as YouTube be incorporated into the plans?