Video commerce industry resources
I thought we’d have the first non-housekeeping related post focus on some of the resources out there for video commerce. Here’s a short list, please feel free to add others in the Comments section (if you have a blog you think would be valuable for our readers, or links to other articles or studies on video commerce). Thanks guys!
What is Video Commerce? Here’s the official definition, according to Wikipedia.
Looking for some video commerce case studies?
Check out this video commerce presentation from the latest Streaming Media West conference. Jon Nordmark, Founder of eBags and Alison Jeske, Director of Product Management at drugstore.com share a couple of case studies including some nice juicy stats on conversion rate increases when video is placed on product pages. I moderated the panel.
Or read this article on how Wet Seal uses video to engage shoppers.
Looking for online video stats? Here are some good ones:
“Spending by retailers on online video marketing will reach $338 million in 2008, up from $157MM in 2007”: http://www.internetretailer.com/dailyNews.asp?id=27991
The following stats come from the Spring 2008 edition of Search Marketing Standard, print edition. I can’t seem to find these stats online anywhere, so here’s a copy/paste from an earlier post I made on the VCC forum:
Size of video audience (US):
~75% of Americans using the Internet watch video at least once a month
~10 billion video streams served in the US each month
comScore Video Metrix, Nov 30, 2007
> 56% increase in video viewers in 2007
Forecasted growth similar
Magid Media Futures, June 18, 2007
So many people think that video is just for the 18 – 24 demo, kids,
tweens, and teens. NOT TRUE.
Size of US adult market steaming at least 1X/mo:
75% (18 – 24 demo)
61% (25 – 34 demo)
56% (35 – 54 demo)
Highest use in 35 – 44 demo (33%)
Next highest use in 25 – 34 demo (31%)
eMarketer/Ipsos Insight March 2007
> 50% of video watchers say they engage in “some sort of response
activity” <– THIS IS AN AMAZING STAT.
Video tends to skew to higher incomes due to the need to have
As opposed to viewing video on TV, Internet viewers are more likely to
be engaged in a search activity (active consideration).
Kelsey Group, “Online Video: A New Local Advertising Paradigm,” May
24, 2007. Michael Boland, Sr. Research Analyst.
Happy Selling everyone!