Leveraging Video Content to Amplify Your Brand & Grow Revenue

Feb 9, 2022 12:00 pm1:00 PM EST

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Key Discussion Takeaways

Video content is a fast-growing strategy to gain revenue and a bigger audience. How can your brand navigate the different platforms and strategies to successfully reach customers through video?

Authentic video is a must if you want to drive KPIs. User-generated content is especially important when fostering authenticity and connecting with consumers. If you want to successfully guide your audience to purchase, your video content has to be authentic, experiential, and emotionally powered. However, your brand will need to utilize multiple types of videos across platforms in order to see a significant boost in revenue.

In this virtual event, Aaron Conant is joined by Ajay Bam, Co-founder and CEO of Vyrill, and Jordan Knapp, CEO and eCommerce Advisor at KnappCommerce, to discuss strategies for utilizing video and amplifying your brand. They talk about why video content is vital to your success, how you can extract value out of user-generated content, the different ways you can intersect the shopper with video, and more tips for building your video marketing strategy.

Here’s a glimpse of what you’ll learn:

 

  • Ajay Bam discusses the growth of video consumption on various platforms
  • How can brands extract value out of user-generated content (UGC)?
  • Amazon’s use of video content on product pages
  • Ajay talks about current live streaming trends
  • Breaking down video versus text, and UGC versus branded content
  • Does the type of video matter?
  • The three key elements for video commerce
  • How to utilize video search to satisfy customer needs
  • Creating successful video content across different industries
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Event Partners

Guest Speakers

Jordan Knapp

CEO at KnappCommerce

Jordan Knapp is an eCommerce Advisor and the CEO of KnappCommerce, which provides go-to-market strategy consulting for technology providers, D2C brands, and eCommerce investors. Before KnappCommerce, Jordan was the Head of Market Development at Shopify, Director of eCommerce Solutions Consulting for eBay, and Director of eCommerce Sales Consulting for Oracle.

Ajay Bam

Ajay Bam

CEO and Co-founder at Vyrill

Ajay Bam is the CEO and Co-founder at Vyrill, a company that harnesses the power of video for personalized marketing. Vyrill's “in-video” search elevates your brand with authentic content consumers rely on to make purchase decisions.

Before Vyrill, Ajay built a mobile shopping app company in Boston called Modiv Media. Ajay is a proven and accomplished product management professional, entrepreneurial thinker, and innovator with 13-plus years of experience with startups and world-class brands.

Aaron Conant

Co-Founder & Managing Director at BWG Connect

Aaron Conant is Co-Founder and Chief Digital Strategist at BWG Connect, a networking and knowledge sharing group of thousands of brands who collectively grow their digital knowledge base and collaborate on partner selection. Speaking 1x1 with over 1200 brands a year and hosting over 250 in-person and virtual events, he has a real time pulse on the newest trends, strategies and partners shaping growth in the digital space.

Event Moderator

Jordan Knapp

CEO at KnappCommerce

Jordan Knapp is an eCommerce Advisor and the CEO of KnappCommerce, which provides go-to-market strategy consulting for technology providers, D2C brands, and eCommerce investors. Before KnappCommerce, Jordan was the Head of Market Development at Shopify, Director of eCommerce Solutions Consulting for eBay, and Director of eCommerce Sales Consulting for Oracle.

Ajay Bam

Ajay Bam

CEO and Co-founder at Vyrill

Ajay Bam is the CEO and Co-founder at Vyrill, a company that harnesses the power of video for personalized marketing. Vyrill's “in-video” search elevates your brand with authentic content consumers rely on to make purchase decisions.

Before Vyrill, Ajay built a mobile shopping app company in Boston called Modiv Media. Ajay is a proven and accomplished product management professional, entrepreneurial thinker, and innovator with 13-plus years of experience with startups and world-class brands.

Aaron Conant

Co-Founder & Managing Director at BWG Connect

Aaron Conant is Co-Founder and Chief Digital Strategist at BWG Connect, a networking and knowledge sharing group of thousands of brands who collectively grow their digital knowledge base and collaborate on partner selection. Speaking 1x1 with over 1200 brands a year and hosting over 250 in-person and virtual events, he has a real time pulse on the newest trends, strategies and partners shaping growth in the digital space.

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Discussion Transcription

Aaron Conant 0:18

Happy Wednesday, everybody. My name is Aaron Conant. I'm the co founder and managing director here at BWG Connect. We're a networking and knowledge sharing group with 1000s of brands who do exactly that. We network and knowledge share together to stay on top of news trends, strategies, pain points, whatever it is shaping digital. Today, I chat with 30 to 40. Brands and organizations each week to stay on top of those trends would love to have a conversation with anybody on the line today, we'll send you a follow up email, we don't sell anything here we are just a great big networking group. But what we do is, in those conversations, when the same topics come up over and over again, that's how we get the topics for our calls. We also are going to do a lot of like in person, small format dinners, 15 to 20 people. If you're in a tier one, tier two city, don't hesitate to reach out more than happy to put you on the list. We'd love to meet anybody in person in the network as a whole couple housekeeping items to get started. We're starting with this three to four minutes after the hour. And just so everybody knows where to wrap up with at least three to four minutes to go on the hour as well. We're going to give you plenty of time to get on to your next meeting without being late and you know, maybe even time to grab a cup of coffee along the way. And the other thing is, we want all of these to be as educational and informational as possible. And so at any point in time, if you have a question about anything in this space, don't hesitate to drop into the chat. Drop it into the q&a section there. Or you can always email me Aaron Aaron@bwgconnect.com in for the email, including an hour after the call tomorrow, next week, have any questions you want to chat on anything in digital, you have any pain points, always up for a great conversation, as noted. And I'm helping 30 to 40 brands out each week with that. So with that I want to kind of kick off this conversation today. Because content and the acquisition of it in tonnes of different types have just come to the forefront for a lot of conversations I've having. And there's a standard, you know, content around imagery and 3d and AR that's popped up a bunch, it's obviously the written word as well, but a lot in video. And if you look at what's happened with live streaming in China, in that it will come here. There's a huge focus on video as a whole. And what are the options? What do they do, and we've just, you know, got connected with Ajay over at Vyrill there, you know, leaders in this space, developed some really cool technology around it and was just like, this is like perfect for a call that we might have. And you know, Jordan is here as well. But I'm going to kick it over to you. If you want to jump in, you know, intro on yourself. And on the company. That would be awesome. And then we'll kick it over to Jordan do the same. And then we'll kick into the conversation and kick off the slideshow someday.

Ajay Bam 3:02

Yeah, absolutely. So let me just here, make sure I can my screen is visible and everything are good. Yeah. Yeah. So really quick. Hi, everyone. Good morning. Good evening. Good afternoon. Wherever you are around the world, I hope you and your families are staying safe. So a quick intro on myself. Ajay Bam CEO and co founder of Vyrill and I have over 20 years of experience in mobile, eCommerce marketing and both in store and online shopping experiences. So here at Vyrill we help brands and retailers increase revenue, and find new customers by leveraging authentic video content such as reviews, unboxing videos, how to videos, recipes, really UGC content, plus along with branded content for insights, dimension and content marketing. So to help you at a very high level, think of us as a Google for commerce video. And we're also one of the few companies in the world that can Google inside the video as well for insights and commerce. So for example, you know, if two shoppers are buying a car, and one of them is interested in finding, buying a car with leather seats, and another shopper is interested in finding learning more about car acceleration, before they buy their BMW or any other car with Vyrill they can actually search inside the video for those product features. And we can actually take them to that product feature and and they can watch just that portion of the video to help them find the answers that they're looking for for their purchase decision. So we really facilitate in video search, and faster shopping decisions by allowing customers to be able to search inside the video. So that's really at the heart of what we do. So we help brand marketers capture videos from multiple platforms were built the first of its kind rating and ranking system for videos, you can you can rank and rate content in nine dimensions, including brand safety, sentiment, topic, diversity, scenes, and much more. We also help brands, we capture the email address of the creators, you can license content to the platform. And finally, we just launched video shopping app for product pages where customers can actually it can really help drive both your engagement page engagement, and increase your conversion by offering in video search and interactive video experiences for shopping on your eCommerce or your in store shopping journey as well. So anyway, that's a quick intro on myself and Vyrill. And we've been around now for five years. And we're based here in the in the San Francisco Bay area. So with that, I'm going to hand it over to Jordan, I think.

Jordan Knapp 5:58

Yep. So Jordan Knapp been in the eCommerce Industry, just about my whole career was doing web development and eCommerce development at a young age. And then was it at eCommerce for many years, eBay Magento. And then joined Shopify in 2015, build out agency partners, tech partners had a wide variety of roles and just left at the start of the year to start KnappCommerce, working with both brands and technology companies and go to market and, you know, got to know Ajay and team and just really intrigued by Vyrill. So it's, it's been a great experience so far.

Aaron Conant 6:34

Awesome. So as we jump in here, just a quick reminder, you know, drop any questions you have along the way, at any point time to the chat the q&a, or email them to me, Aaron aaron@BWGconnect.com. So let's jump into

Ajay Bam 6:47

Yeah, thank you. Thanks, Aaron. So, today in our talk, and presentation, there's three things I would like to cover here on this talk. First is I want to share with you a little bit about you know, what's happening with all things video, you know, what do some of the video consumption and creation trends look like? We'll then go from there into talking a little about shopper video behaviors and habits. And you know, why are people watching videos? And what do they want to do with video content? And then finally, you know, many of you here on the on the on the webinar are also brand marketers. So we want to share with you a couple of thoughts and pointers about how do you go about building your video content marketing strategy. So as Aaron mentioned, you know, please, we want to make this interactive and conversational. So please, if you have a question or comment as we go through the slide deck, and as Jordan and I go through this presentation, please stop, stop at any point, if you have a question or a comment on the slide, and happy to get back to you either on the slide or after. So I want to jump right into video consumption. So just to give you a sense of how big this is, and how fast video is growing, just on YouTube alone, 700 hours of video is now uploaded every minute. And 5 billion videos are now watched every day on YouTube. And this is just one platform. And now this is actually happening across 35 platforms in 89 languages. And I just read a stat that there was more content produced in the last two years video content in the last 30 years. So this is massive. And what's interesting is you know, of course, YouTube is one of the the oldest platforms out there. They've been around for about 15 years. And so YouTube today has more product video when it comes to product videos, they have more product, video reviews, unboxing videos, how to videos, and more. Then Instagram and Tik Tok combined, you know, there is of course, we're seeing more content grow on these other platforms. But YouTube, by its very nature, there's always a long format, a platform, which is where you could post a video as long as 30 minutes or an hour long. So we have three we're seeing a lot of a lot of product media on YouTube. And so this is a quick summary of what's really happening, you know, you're to compare millennials and Gen Z's or Gen Z's and above. This is actually what's happening with video consumption by platform. So of course, you know, TikTok was the was the big breakout platform in 2021 during COVID. But this quickly gives you a glance of you know, in this actually status from 2021. And this tells you I mean YouTube is still very, very popular with with Gen Z's followed by tick Instagram and of course TikTok is catching up right now. And also it's interesting. TikTok added a billion users in about 18 months what took other companies around anywhere from five to eight years to add billion users on their platform. So, and on average, consumers are spending about 16 hours per week, which is about 2.1 hour a day on digital video. And of course, you know, when I say digital video, I'm talking mostly a lot of video watching on on mobile, and really separating this out from television and any other video. So it's pretty significant. And then the number of hours of the average hours of watching time, it actually increases quite a bit. For the Gen Z’’s. You know, I've seen numbers as high as eight hours a day with video and on mobile. So to give you a sense of how big UGC content is, just wanted to share with you a couple of examples of some of the big you know, sports brands, Golden State Warriors, they have more than 8.5 million videos on YouTube. L'Oreal has over 30 million videos and Porsche that car brand has over 35 million videos. And what's interesting is, is you know, I would break this down, you know, what is what are these videos? And how does that break down between branded and UGC content, which is user generated content, more than 95% of this content is is user generated. And then we see, the rest is mostly branded, and some influencer content as well. So, you just see content is huge. And really, you know, how do you keep stay on top of all this data, and if anything, this data is exploding, year to year, and is growing anywhere from depending on the platform, video creation, and consumption is growing anywhere from 100 to 400%, depending on the type of platform, so it's pretty big.

Aaron Conant 11:48

And I want to jump in here just a little bit, just a couple of questions that come up, because content is huge. It's super expensive. UGC, in some cases is free, other times it's paid for. But, you know, and I have to believe in 95% of this content is user generated, the majority of it is not paid for. The How do brands extract the value out of that? Right, don't say warriors, L'Oreal, like purchasing funding 35 million videos, right?

Ajay Bam 12:19

So so first of all, I think, you know, a lot of this, it's not humanly possible, right? I mean, if you look at the size of the content, it's not humanly possible for for us for any brand, or any market here to hire human bodies to do that. So I think this is also where I think technology is in companies like us and other other companies as well, including, you know, the Googles of the world. And YouTube, right. This is where AI and machine learning is really starting to play a big role. And so, you know, if you look at this content, right, I would say that, you know, there's all kinds of content and really, about 20% of this content is really useful. And so how do you really dig through massive amounts of content, I think, finally, technologies. Finally there, you know, and what I mean by that is, video is very rich, you know, you have text, you have audio, and you have images. So the processing of a video, actually consumes a lot of a lot of both hardware and software power. So I think finally, in the last couple of yours, companies like Nvidia and including Google Cloud, as well, and Amazon, they've introduced their own hardware, their chipsets, where they're now able to actually process a single task, let's say we're analyzing the word processing the transcript, or we're analyzing scenes inside the video, we now actually have the hardware and software to be able to do this at speed and scale. And so ultimately, I think this is an area where AI and machine learning is going to play a big role. And of course, you know, the, the, the, the hard thing here is, you know, you have to really be able to search the entire video, you can just have sentiment analysis and not do brand safety, right. So I think what brands are expecting here, as we analyse all this UGC content is really being able to analyse the the whole of the video. So I think finally, we're there where we can use AI, and we can train machines to watch videos and do what they need to do. Yeah, so

Aaron Conant 14:17

quick note that comes in, you know, you know, they're interested in these things. You know, there's similarities or differences around perspectives for b2b brands as well.

Ajay Bam 14:28

So similar, similar. So do you mind repeating that question again? Yeah.

Aaron Conant 14:31

They're interested in any similar or different perspectives for b2b brands and businesses?

Ajay Bam 14:37

Yeah, so absolutely. I think I'm going to address actually that question in in b2b versus b2c? I think I think the big difference is the type of content so you know, what consumers are looking for when they're buying products and services is a bit different than what you know when you're doing business. Business when you're buying software, you know the type of videos you're looking for. Yes, that yes, you're looking for reviews. But the context what you're looking for in the software product in the context of b2b is very different than the context for shopping. Right? And also, you know, where customers begin their surgery at their their purchase journeys. And the influence that you have b2b versus b2b, b2c in those journeys is actually very different as well. So absolutely, I think I think there's the difference in the in the b2b video journey versus the shopping journey versus the b2c shopping journey forward. And I'll get into this some of these nuances as we get along and have a couple of slides on that as well on the on, especially focusing on the b2c experience.

Jordan Knapp 15:48

One thing I there was an article I was reading this morning that was talking about b2b Like the format so it's, I think it was like 75, or 80% of b2b products research done on the videos is still done on desktop. So it's like, you know, when it My son doesn't use a desktop, but the VAT you know, he's on it when he's on his iPad, and all of a sudden, he gets hit with a, like, he thinks Walmart is Disneyland because of the advertising that he seen. But you know, if I'm doing you know, it makes sense that if I'm doing product research for an email marketing solution, or something along those lines, like I'm not doing typically doing it on my iPhone, so there's definitely definitely differences in in viewer behavior.

Ajay Bam 16:26

Yeah, and I'll also say this, you know, when it comes to social media platforms that I shared before, a lot of that content, today's beauty b2c, it's also a lot of, you know, other than product reviews and product videos. It's also a lot of fun and entertainment. And of course, music is a big category as well, when it comes to UGC content as well. So, so there's a lot of other kind, but more b2c on social media, then then b2b videos.

Aaron Conant 16:52

Another question that comes in. Well, isn't it funny, you just saw that it was on Amazon live, and you see live shopping via video stream. So maybe,

Ajay Bam 17:04

you know, of course, the elephant in the room is the Amazon, right. So I wanted to just quickly share a couple of what Amazon is doing in the space. So first of all, Amazon has now opened a store. If you do a search on Amazon, watching by watching shop, there's actually a store, Amazon has launched a store where you can watch videos, and you can you can buy products. And our guesstimate is Amazon has now aggregated more than 250 million videos on their platform. And this is, you know this if you open up any Amazon page now, on the top, the carousel, where you have the images and the videos, Amazon is now starting to lead the product pages with video content. And if you open up any of the video, it actually opens up both the branded content, but we're also seeing a lot of UGC content as well, that Amazon is capturing after post purchase engagement, right? So I don't know, if you've received a pure purchase on Amazon recently, you actually get a follow up email from Amazon asking you to either upload a video or either upload a video with a review or unboxing video, or read the product. So capturing video, I think I believe Amazon introduced this about a year and a half ago, and they've already amassed massive, massive amounts of video. Now, Amazon at the moment is not offering in video search on their pages yet. But I wouldn't be surprised if that's coming soon. And also what I want to share is, you know, I think the fact that Amazon is already leading product pages with video, it means that from a customer behavior point of view, customers will expect videos or TV or product pages to be led with videos as well. And, and sort of it it moves up the food chain as well, right. It's not just product pages, but in future you know, when you type even on when you arrive on a eCommerce site and you you're searching by product name, perhaps even there in the search box, you know, you'll begin to see videos pop up as well. And the thing about videos is, you know, anytime you have something moving on a page, it literally grabs your attention. It's just how our brains are program. We quickly detect any moving objects or moving people or images in a frame. Right. So videos tend to get the consumer attention right away and and we're seeing this Amazon is already leading the way with millions of videos now.

Aaron Conant 19:30

So quick question comes in, you know, can you clarify in video search?

Ajay Bam 19:37

Yeah, so absolutely. So what's happening now is you know it the bottom line is, customers don't really have you know, when when a customer lands on a on a product page, and there are 20 videos, right? And I'm searching for one particular feature. As I mentioned before I'm searching for let's say I'm buying a car, and I'm looking for a video that talks about leather seats. or someone has reviewed leather seats inside the video, right? So when there are 20 videos on a page, I as the consumer, I'm impatient, I don't have the time to watch all the videos, I just want to get to, I just want there's one thing that I care about it's leather seats, I want to find that video where they're talking about leather seats. And so this is where any video search is, is going to be very fundamental to video commerce. So they're going to, you know, customers will will want to get to the answers very quickly. So how do you find inside the video? How do you do in video search? Right. And that's and that's actually one of the big problems that we have been working on. And we have solved for the last four and a half years he had Vyrill as well, because we quickly realized and this is my own experience with eCommerce as well from my past is that customers want to finances and they want to quickly decide whether they're interested in it, whether they want to purchase the product or not. And so even when you're doing product comparison, I might want one to get to a particular feature that I'm that will lead me into making my purchase decision. And so if we do a search is going to be very fundamental. And it really saw so so so within video search, it doesn't matter anymore. Whether your video is 10 seconds long, or, or 10 minutes long, or 30 minutes long. You know if you can give the capability to teach the shopper to be able to instantly find what they're looking for or filter, right? Or maybe a filtering mechanism to filter by demographic, you know that someone who looks like them, right? It's very important when it comes to shopping behaviors, people want to see people like them buying product. So then ability to filter or do in video search, I believe is going to be very fundamental to video commerce. So yeah, so continuing on, I also want to mention some data around live video as well. So this is actually the slide is primarily it's, it's referring to social video. And so you can see Twitch is sort of leading the play here. And of course, a lot of Twitch live streaming is is gaming. So of course we see a lot of, you know, we even have seen a lot of

promos, and product inserts in video gaming as well with and so quick to sort of the leader in live streaming. And that's of course, that's followed by, by YouTube, YouTube is slowly gaining market share. And then there's Facebook and mixer, which is owned by Microsoft. And, you know, the most popular tool right now for for live streaming, in terms of other than social is is Vimeo is live stream platform. So it has about 37 40% 38% market share today with live streaming. Now what's interesting about live streaming versus and pre uploaded pre made uploaded video, is that live streaming actually creates a very intimate experience with the customer. So while the live stream is on, the customers can actually ask questions to either, you know, whoever is is live streaming, whether it's an influencer, talking about the product, or its customers doing the product? Or is the brand talking giving a quick introduction or doing a product launch, the fact that customers can actually ask questions and get answers that will again that will help them with their shopping decision very quickly and fast. And the fact that they can actually see the human the people behind the product, or people endorsing the product is very, it's very unique to live video streaming. And as you mentioned before Aaron, you know, it was just looking at some of the numbers from the revenue numbers from Alibaba. And in 2021, about 7% of revenue actually came from, from live streaming. And it's still sort of, we're still sort of in a very early stage of live streaming here in us. But again, you know, we'll, we'll live streaming, if anything will become one of the formats in which shopping experiences will be would be delivered. Of course, you know, the the challenge with live streaming is it has to be you have to have the shopper on board on your live streaming stream. So that's that's the challenge is, you know, are you doing the live stream at the time and at the place where these Shopkins join. The other thing we're also seeing is with live streaming as well as that the other benefit is after the live stream ends. We're seeing a lot of that video content actually repurposed back on either the product pages or back on there. In fact, Nordstrom has even created a whole their own they have their own shopping network, if you will, that they've created on and they have a separate site, I believe, for for Nordstrom live streaming as well. So what they do is after the live stream ends, you can actually they post all the live streams on this all the all the past live streams on these pages to the customer you can revisit those and they're also repurposing that those live streams on social media and other channels as well. So we'll see live stream is big in China, it will continue to do we'll continue to see growth here in the US.

Jordan Knapp 25:09

And people have been, I think, for a couple of years now everyone's been talking about when is when is live commerce and live shopping going to be actually something that catches on in North America. And it's been obviously, so dominant throughout Asia for quite some time now. But I think there was, we've all been creating this really this sense of, like, personal contact during the, during the pandemic. So I think I think there was something like 80% increase in live, live shopping during during the past, you know, since the start of the pandemic. And it's like, I think this, you know, better for better or worse, I think this might have been the inflection point where like, live shopping actually starts to become like fundamental here in the here

Ajay Bam 25:48

in the States. Yeah. And I think to Jordan, to your point, you know, when you can visit a store, and play with the product, I think someone actually playing with the product and giving you a demo, right? It's actually very useful and very purposeful. So I'm not going to talk on this again, the second chapter here, I'm going to talk a little bit about shopper behaviours. So first of all, I want to start with, you know how video performs compared to text 73% of shoppers say that they're more likely to purchase a product after watching a video. And the reason is, video increases brand trust by about 20x. Because customers can see the product, the person and the emotions inside the video. And it also cuts down on text fraud as well. Because we don't know what sometimes text reviews, you don't know the person owned the product or whether it was posted by a bot. So here authenticity, and what really makes video special is the authenticity of the video, you can actually see the product experience. And you can also see the emotions of the customer as well, you can see whether they're happy, or if they're if they're making a complaint or seeing something negative can actually see that expression in the video. So video always we have seen always performs very good and much better than text. And so why do customers? Why do shoppers watch videos? Right? So here's the top three reasons. So one of the questions, you know, I frequently get asked is, you know, why are unboxing videos, a big category? I mean, they're more than a billion unboxing videos today on social media channels. And it's really the the, you know, the first comment here from shoppers, which is, you know, I don't know, if my product will look the same upon arrival, right? So, you know, sometimes Have you received a product where the colour of the product was a bit different than what you what you actually sign in an image on the on the store? Or did you ever receive a product where the battery, you know, receive something that the battery was missing, theoretical rushed to a store? Do you find the battery, so you can you can launch, you know, if you have a clock, and you have to go by the factory, so it was sort of a, you didn't have that aha moment when you open the box. So view actually assist shoppers with understanding what's in the box, and perhaps even what the color of the product looks like. And it looks better. It improves it increases the purchase confidence. So of course, you know, we find that anytime you have customers are shopping more than $50 worth of product. They do product research, you know, compressing videos, it's another big category as well on on YouTube. And product demos, of course, assists shoppers with, you know, with with understanding, you know, they have to build something, or there's a complexity to a product or a category like car electronics, fashion makeup, right? How to videos, and getting demos helps. And this is an interesting data as well that sites, eCommerce sites, and just in general websites that have videos, I will increase browsing time with shoppers by about 88%. So that's actually quite significant and quite high. Also, shoppers, this is a slide about, you know, all these social media platforms have now become big disk product discovery platforms. So these are some numbers from YouTube, Instagram, and TikTok of how many shoppers have actually watched a video on this platform and click on an affiliate or a link to purchase the product or access the product from the video. And it's pretty big. I mean, and even with my own behavior as well. I mean, I've discovered in the last 12 months on all these platforms, new products, and many of these come many of these social media platforms. Now if you're watching a particular category of product, they will make recommendations for similar videos or similar products or similar influences, right. So at all these platforms have become a big product discovery platforms and with with the appropriate affiliate marketing programs or you know, we recently on our platform as well. We are a customer who did a product shout out campaign. They invited influencers to to make a quick shout out for their product in their next video that they were posting on their YouTube and TikTok channel. And they asked the influencer to connect the, the video to their product and the brand. And we found that about 11% Click through rates from the video to the product page. And the the brand actually gave a promo code to redeem the product. And they were giving a discount. And they the brand actually had about 3% redemption in the promo code. So we were actually able to track all the way both with the affiliate marketing links, and with the promo code and end to end campaign and it works. Again, you know, shopper video increases confidence. And if you're from the right influencer, and it's from other customers that they trust, it really increases conversion.

And then, this was an interesting study that was posted by TikTok and publicists, they actually did a study on, you know, what type of feature on TikTok and what type of content and what type of creator is driving a lot of product discovery. And so what they discovered was trending there. So tick tock has trending video feed. So they found that the trending video feed influencers and people you follow, the videos are coming from them, and how to videos and brand videos, these, these three, sort of summarising the slide, by the way, and I'll be will be sharing the slide deck as well. But that's what TikTok found is is these three parameters are driving a lot of product discovery on the platform. And of course, not a surprise, if you look at, you know, where how to videos did really well, it's actually was in the automotive category, you know, the purchase amount is very high, you're interested in looking at all the different features of the car. And again, with luxury products as well, anytime you're spending more than $50 or more and more than $100. You know, people will immediately they will switch to doing research and understanding more on how the product works. So very interesting. And again, it affirms you know why TikTok is big, and what TikTok is is growing. So you just see content always performs well, compared to branded content. This we have seen across even with all our customers as well. And the reason again, is customers, just other customers. So UGC content is very impactful is cheaper. And 90% of customers say that they believe they they're interested in more authentic content from shoppers who look like them. And 84% of consumers trust their peers. So you just see content definitely across the board. And we've seen this, but even on our platform with all customers, it performs better, and has a much more impact from ROI perspective than branded content. And here's some of the engagement stats as well with when you put videos up on your product pages, or you engage customers with video, the page engagement time will increase anywhere from 2x to 5x. And the conversion will increase 10 to 60%, depending on the product, the video and the and the category. And we generally recommend, you know, when you're in what we have found is with this where the performance and the conversion rates go up, is when you have a mix of both branded videos and UGC content. So we generally recommend a ratio of 20% branded video and 80% UGC content or fan led content on your product pages. And then this is an interesting research that was recently done. And they they found that anytime you put videos up, and this is also this is true for both live streaming as well, it will really help reduce the number of returns from customers anywhere from 20% to 50%. And this is actually quite significant. You know, it really hits your can impact your bottom line. And also what this affirms is that video really helps customers with their shopping decisions. So if they're able to exactly accurately find what they're looking for, they're less likely to return the product. So these are some of the some of the video commerce stats as well from from from video. So moving on from here into building your marketing strategy. Just want to take a quick pause. Jordan, is there anything you wanted to add here on this topic before I move to the next chapter?

Jordan Knapp 34:17

Oh, no. I mean, I think that the reduction in churn is it or in returns is powerful because, you know, returns can kill a brand's you know, it's, um, you know, that's the difference between being being green or being deep red in many situations. So, but it makes complete sense. I mean, there's been, I was just researching expression machines the other day because I was going to try to give it my Starbucks habit. And, you know, I went to, you know, there was to like, going through two or three different espresso makers, you know, exactly what you're getting, like, you can sort of envision yourself what the product would look like in your environment. And it's it's it's a, you know, there is no there really no is no comparison as far as, as far as that product research to You don't want to shake out those buyers, you don't want the buyer that's going to be returning this product. That's, that's gonna be, you know, certainly a cost of business. So I that's, you know, that was a really impressive to me. Thank you.

Ajay Bam 35:13

So yeah, so I'm going to now get into the third part of the the topic you're on the agenda, which is, you know a couple of pointers as you're thinking about video content. So first, you know, these are all the ways in which you can view can intersect with your shopper in the shopper journey, everything from beginning with search, social blogs, email campaigns, device person to person sharing, a live streaming, and we're now also seeing adoption of QR codes. And Nike has put QR codes now on all their product and packaging now, so they're launching QR codes, human experiences, as well, and SMS. So all these, you know, customers use all of these different channels, both in their discovery and their research process. And then, of course, you know, on the purchase journey, it's both on your homepage, and on your product page, you can influence the customer in the shopping cart, with video. And then of course, post purchase, you can capture videos from your customers post purchase engaging, so you can also follow up with the customer as well, as Amazon is doing to capture videos or unboxing videos, and you know, you can offer an incentive or not offer an incentive to do that. But really, these are all the different ways in which you can intersect the shopper with with video. So, you know, one of the questions is, you know, what does the type of video matter? Right, and it absolutely does. So what we found is, on average, there are three types of videos that drive conversion on a page. And this can this varies by category. So real quick example on for beauty reviews, unboxing, and how to videos are very, are huge to increase conversion. On the other hand, in the automotive category, it's reviews, dealership, videos, and inside outside tour of the car. So the type of video will vary by by vertical, if it's CPG in the food category, of course, it's reviews and recipes will matter. And, and of course, you know, engaging customers in in sort of a fun and entertaining way. Also is very, it's also it's also helpful and and that's the reason why TikTok has taken off is it creates very fun, you know, music lead content, you know, it creates some sort of Jingle right when you watch in your mind when you watch a TikTok video. So type of video matters, it's very important to have a type of video but also diverse and created by your target demographic. And this can be your age, ethnicity, gender, and who's making the video as well. Also, we found that interaction with the video matters a lot. And so the completion rates of watching a video will increase 90 by 90%. If there's some interaction with the video, whether it's liking the video, adding comments to the video, or perhaps you're showing the hotspots on the video about a particular feature. So anytime there's interaction with the video, the customers will wait to actually either they will click to watch the purchase of the video, or they or they will click to respond to something and that increases the interaction and engagement with them. I will increases the completion rates quite a bit. And the format of the video matters as well. So we're seeing more and more, you know, short format is what really matters. So anytime the video is is less than three minutes, and if you can get the customers attention in the first 10 seconds to 20 seconds. And it matters. And of course I mentioned before I think this problem can be solved with in video search if the if the video is longer. So if at least if you can give them the ability to search inside the video and find the answers instantaneously, that can help as well. Mobile matters. So as you're thinking about mobile versus desktop 75% of shoppers are now watching a lot of videos on mobile. People are also scanning you know with QR codes. As they're shopping in store. They're scanning QR codes to find out more information about their product or perhaps you can engage them with a video with a review or a how to video. And horizontal is still preferred to vertical when it comes to video because in horizontal mode, you can see more of the video and much clearer and stronger than Yep, so video format matters. And then finally, you know, as you're thinking about video cameras, that sort of three key elements that you want to think about first is adding in video search and recommendations to your site. Second is personalization. So at the end of the day, people want to see people like them buying the product. So delivering some level of personalization will help and finally adding the SEO component to it which is being able to

being able to provide sto with video as well. So videos get discovered very early on even even with search engines in the in the search process is going to be very critical to your success with with all things video. So these are some of the KPIs that you can track through the, when you engage customers with, with video content. So of course, you know, the obvious one says click throughs, you know, views, comments, likes, shares, and more conversion rate, you know, ability to track that page engagement time. And then of course, search and filter keywords, right. So as customers are searching inside the video, while filtering content, and insight on that could be very helpful as well. So if you know, the most search features of for your product, or your category is perhaps, you know, whether it's the the door, or the size of the of the product or medium shirt, right, you can then highlight those features both on the video, but also above the video as well. And also your marketing campaigns as well, for your product and brand. And of course, finally, the affiliate performance if you're engaging in any kind of affiliate marketing campaigns, and with influencers and more,

Aaron Conant 41:08

a couple of you know, questions that come through as well. One is, you know, how is the search done? You know, do you add tags within the videos? How does that work? And then there's, there's a few more that have rolled in here, too. And I do want to get to the takeaways, but from there's been a bunch of questions that roll in that we kind of held just to the end, because it was kind of a you know, it was great to streamline the info, how a search done, you know, to brands tag it within the videos, how does that work?

Ajay Bam 41:33

Yeah, absolutely. So So in case of search, actually, there's two things that happen, right? One is matching a video to a product. And this can be both automated. So there are mechanisms now to actually be able to match your videos to your entire product catalogue. And then after it's matched, we then analyse the the text, the audio and images, right? So you can often search in multiple dimensions searching the the audio component, which is the sentiment part of this, right? Are people saying positive or negative? And what does that look like? Search can be people in the videos, right? age, ethnicity, gender, search can be by country as well, you know, is the video coming from a particular geographic location, and this can be both. It can be either marked by the Creator or this can also be identified based on the language of the video as well, right? There's also a search around. So scene analysis, right indoor outdoor, you know, if you're promoting a product, a customer, if it's a sunscreen product, the customer might want to see more outdoor videos where it says indoor videos, right? So there are multiple dimensions around audio in images and text and with you know, in in terms of the search itself, what does this what, what we do, and for our in video searches, we actually generate about 50 different tags of what's inside the video. And then brands can use and eCommerce retailers can use those tags, both to offer the search mechanism, but also then to personalize the experiences, both for the shoppers, and they can also build their own apps as well around these tags. And the other component is the SEO component as well. So you know, when you generate those tags, you can then add those tags to the video, and also the transcript as well. So so the search the Google search engines of the world, you know, they still retexe for SEO, and so they're able to better organize and index your videos and the top reviews and more in the search results. So yeah, it's all of the components inside the video. And like I said, there's like multiple dimensions, you know, we offer about 50, plus different features in video search filters.

Aaron Conant 43:41

And so there's another question that just comes through on that along, you know, Vyrill as a whole. So a brand manufacturer or retailer, and I'm gonna try to like extrapolate this question just a little bit, with you to go out and find sift through all the 31 million different, you know, videos out there that mentioned the brand or having a boxing and identify which ones are appropriate and able to be added to the site for UGC? Yeah,

Ajay Bam 44:13

that's correct. That's exactly what we do. And also, like, you know, the search process is sought varies by by the category as well. So for example, like, you know, most products have an average life of one year. So generally, if you're doing video search, you know, depending on what you're searching for, and when the product was launched, you can you can reference the search based on, you know, how many years the life of the product is, right? So, of course, for most products is one year, but if you think if you look at a category like automotive, you know, you can see videos as far as 10 years old, right? Because the life of a car can be can be that long, right? And of course, there's a second and a third life, two cars as well and second and third purchase as well. Right. So it really varies the search can vary by the category. Also, what's interesting with searches that Just you have to for search, you definitely have to customize your search by verticals. So for example, we've trained the machines to identify different topics in beauty versus automotive because or Word says electronics versus CPG. Right? Because reviews and unboxing might be the same, but lipstick mascara, those other topics will vary by vertical. So it's not just so when you know when we referencing before, in video search is not just simply so the computer vision part that people part stays the same whether it's whether even if the vertical changes, but what does change is, is the the language part, the the topic part, right? would change by with with change by vertical?

Aaron Conant 45:44

So, next one have you seen so like three or four more to get to be seen? What have you seen from restaurants using video in live stream?

Ajay Bam 45:53

Yeah, so So restaurant is I would say it's a it's a very new category. I'll be honest with you, like I don't know a lot, I can come back to you with that answer restaurant and live streaming. I haven't personally I haven't seen it. I haven't seen a lot or haven't heard about restaurant and live streaming yet. But I will say this that we are seeing more and more videos, people posting their restaurant ambience and experience and perhaps even recording a short video of what they ate and posting that. And we're seeing this both on social media as well. But I run restaurant, it's mostly been focused on reviews and the ambience and a quick video of what people that you know what they ordered. Right. So those are the categories? I haven't I'll have to come back to you on live streaming on that I

Aaron Conant 46:36

don't and we can connect you with Dave afterwards as well. David probably worth it, you know, conversation for sure. Yeah. So the next one is every company's likes. So space are building out like superior networks to enable the lowest latency live stream experiences, or other live stream companies doing this as well. And, you know, let me know if there's an answer on that. Or if it's if you want to thank you.

Ajay Bam 47:01

For live streaming, like I said, you know, there's a bunch of up and coming boats, startups and established companies and you'll see a lot of more established video content hosting platforms like Vimeo and Brightcove. And so all of these companies are now offering live stream as well. So yeah, I mean, you see, there's a lot of vendors, right. And it's really the nuances. You know, really in what kind of shopping features are they offering for your brand? Or your or your eCommerce site? And how does, how does that integrate? Right? And then the key the capability to be able to leverage the video after the live stream ends as well. So yeah, so I think there's a bunch of vendors, I can have, I'm happy to send you a list after the, you know, I don't have a slide on that. But happy to send your list.

Aaron Conant 47:43

Yeah, absolutely. Oh, we can connect you with him afterwards, for sure. Next, when it comes in one of the most important video types, review unboxing, etc. In the health and wellness space.

Ajay Bam 47:54

Yeah, then great question. Great question. So really quick, in the health and wellness, space, education, and is very important. So So education around whether it's a treatment, or, you know, whatever that is the experiences, educating the customer, if it's nutrition, for example, you know, having an expert nutritionist talking about why protect your product, you know, if you're in the in that category, does better for your health and your wellness, so, you know, whatever that is, right. So, in the health and wellness space is generally its educational videos, for generally from experts, followed by, of course, reviews are, are huge as well. And how to video can depend on the on the on the product, you know, there's a certain, you know, they have to take the product, if it's if it's a medicine or something or they have to take it a certain way, or mix it up in a certain way, then of course, the How To videos are also popular, but I would say that educational videos are very important and very critical. And both from experts and also from other fans as well vouching for the treatment or whatever that that that is, is as important. I want to be sure

Aaron Conant 49:07

that we can get to the takeaway slide that you had there as well, because I think those are going to be critical for shares we kind of get to about you know, three, four minutes left here. Yeah, absolutely.

Ajay Bam 49:17

So Thanks, Aaron. And so very quick video is going to it's a must have now versus a nice to have to improve your commerce KPIs. What matters really is the authenticity of the authenticity of the video. So you know, you see content will matter a lot and people care about what other customers are saying so authenticity, experience and emotions are really what drives others to purchase product. And and and so a video humanizes the brand connection and that's why video is important, because people can connect or relate to other people in the videos. You know, build an 8020 strategy for for building out your or both your budget, your marketing budget and your and how you leverage video content. So I would say 8020 80%, UGC, 20% of branded content. And the key to success on video commerce would be in the long term will definitely be in video search, personalization and SEO. So think about this, as you're introducing video on your product, you know, how best can you customize sometimes the the eCommerce platform can offer it sometimes the service provider, sometimes the the, the tech company like our, like Vyrill can can do this. And then of course, you know, think about how you can engage post purchase as well, customers with video, and video upload. And you can drive this with contests, which shatter this multiple mechanisms to incent customers and engage customers with post purchase engagement. So those are the quick takeaways. And with that, I want to also quickly just thank everyone for, for joining the session, thanks to BWG, and thanks to Jordan as well, for joining the call in the end the conversation as well. And happy to connect after if anyone has a question. We'll of course, you know, we'll send the deck as well. Yeah, so thanks to everyone for for making the time, we really appreciate it.

Aaron Conant 51:13

Yeah, and say, Sure, and thank you for your time today. You know, the great information, again, encourage anybody have a follow up conversation. You know, with the team at Vyrill, they're doing some very innovative stuff come highly recommended for what they're doing in this space across the board. We're spending 30 minutes just to hear, it's been very impactful for a lot of brands so far. And just I don't know, it's kind of cutting edge as a whole, you know, Jordan, you know, key thoughts, key takeaways from your side as well. And then we can kind of wrap this up.

Jordan Knapp 51:41

Yeah, I mean, it wasn't that long ago that influencers were kind of on their own, you know, if I'm, if I'm an influencer, looking for brands or brands looking for influencers, there wasn't a lot of supporting technology. So I think we're entering a new era where, you know, there's, there's, there's tools and resources like Vyrill to really help the brands and the influencers connect and manage those relationships. And so many folks don't know where to get started. So it's, I think, especially for the if you're a smaller, if you're a smaller brand, doing, you know, maybe just a couple million online, it's like now you've got the resources to sort of jumpstart the, the efforts of helping to build a broader ecosystem of UGC content. So awesome. Well love it.

Aaron Conant 52:22

Well, with that, I think we're gonna wrap it up here right on time. Thanks again, Jordan. Thanks, Ajay. for your time today. Again, encourage anybody have a follow up conversation with them. Hope everybody has a fantastic Wednesday. Have a great rest of the week. Everybody, take care. Stay safe. I look forward to seeing you at a future event hopefully in person. Look, check out our website. If you want to see some upcoming events. We're gonna do close to 400 virtual events like this this year. Also look for a follow up email from me. I'd love to have a conversation with you. With that, everybody. Have an awesome day and a great week. We'll be in touch already. Thanks Ajay, James.

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