It seems only yesterday that click-and-shop replaced the giant malls for average American consumers. Yet here we are again, at the pinnacle of evolution in e-commerce, as shoppable videos make it even easier for consumers to buy their favorite products without hopping all over the internet.
No wonder e-commerce sales are predicted to reach $6.5 trillion by 2023.
As the competition increases online, brands are looking for the best ways to connect with online shoppers to drive sales. Today, consumers know what they want, and they won’t spend too much time on one site. Companies need to win them in just a few minutes (or seconds).
This is where interactive video content comes in!
In recent years, interactive video has become a crucial part of video marketing strategy. Nearly 90% of marketers surveyed by Spiel Creative reported increased online sales using interactive videos. More than 85% said they would create more interactive videos in the future.
With brands experimenting with different tactics to find what resonates best with their target audiences, we’re likely to see more shoppable and interactive videos in the future.
Since it’s best to let the numbers speak for themselves, we’ve compiled statistics to examine the performance, benefits, and challenges many marketers face with interactive videos. We will also look at some interactive video trends you should look out for in 2023!
Table of Contents
10 Key Interactive Video Statistics
Top Shoppable Video Statistics
Benefits of Interactive Videos
Outstanding Results Using Interactive Videos
Challenges of Using Interactive Videos
Interactive Video Trends to Look Out For in 2023
Sources
10 Key Interactive Video Statistics
Interactive videos can boost engagement, foster two-way communication, and increase conversions. Here are a few key facts to familiarize you with the potential benefits of integrating interactive videos into your video marketing strategy.
- 35% of marketers report an increase in conversions, and 25% report an increase in sales when they use interactive video. Brightcove
- Interactive videos have seen an increase in average conversion rates from 8.6% in 2016 to 12.7% in 2020. Wistia
- 78% of survey respondents reported that interactive videos led to better online sales than standard videos. Spiel
- In 2021, 64.3% of respondents preferred live-action interactive videos to animated ones.
- Interactive video is already being used by 20% of marketers, and another 12% are in the process of implementing it. Demand Metric
- Shoppable videos can bring a 9X increase in the purchase intent of the viewers. Magna
- 68% of marketers expect interactive video to become more important in the future. Demand Metric
- 93% of marketers agree that interactive content educates the buyer ‘somewhat’ or ‘very’ effectively. Demand Metric
- Ever since the pandemic, 70% of consumers have developed an interest in shoppertainment. Forrester
- 67% of marketers believe interactive content is easy to repurpose. Content Marketing
Also Read: How to Make Interactive Video Easily.
Top Shoppable Video Statistics
Shoppable videos can take your conversions to the next level and dramatically increase customer engagement.
Shoppable videos have clickable elements which enable people to learn more about the products or reach the product pages directly from the video. One of the most appealing aspects of shoppable videos is that they reduce the number of clicks it can take to buy a product.
In short, shoppable videos can simplify the purchase process and reduce friction along the buyer’s journey.
Take a look at some of the best shoppable video stats that’ll motivate you to make videos that really stand out and attract viewers.
- 41% of viewers add products to their carts after watching shoppable videos. Insider Retail
- Marketers who started using shoppable videos saw a 40% increase in direct sales in 2020 compared to 33% in 2019. Interactive Advertising Bureau
- 67% of audience members interacted with shoppable videos on a brand’s site compared to 35% who saw them on video-sharing platforms like Youtube. Forbes
- Ted Baker’s popular shoppable video contributed to the sale of $70,000 worth of clothing within the first week of its release. Forbes
- Shoppable online videos contribute to 87% of purchases in Australia. News Corp
- The e-commerce profit from live shopping is expected to triple by 2024, reaching up to $35 billion. Statista
- A shoppable video is twice as likely to engage a visitor as a regular video. Demand Gen
Also Read: A Comparison of Different Software for Interactive Video
Benefits of Interactive Videos
Interactive videos are known for improving engagement rates and brand awareness. We’ve all heard about the benefits of interactive videos, so let’s look at a few statistics in order to truly understand how successful interactive videos can be.
- 66% of marketers believe the most significant benefit of interactive videos is higher engagement, while 44% claim it to be the longer viewing time. Brightcove Research Report
- Interactive videos have been found to increase conversion rates by 25%, lead generation by 18%, web traffic by 21%, referrals by 11%, and sales by 14%. Brightcove Research Report
- Interactive video content is preferred by 43% of consumers as they can pick and choose the information they want to see. Marketing Charts
- 70% of marketers report that interactive videos convert well or very well. Brightcove Research Report
- The ROI of interactive video content is ‘good’ or ‘great’ for 28% of marketers, while 30% feel neutral about it. Brightcove Research Report
- Interactive videos have a 36% higher viewing completion rate than linear videos. Brightcove Research Report
- Prophix increased their engagement by 642% and views by 189% using interactive content with influencers. Demand Gen
- 53% of marketers use website traffic, and 48% use social shares to measure the effectiveness of their interactive content. Content Marketing Institute
- Interactive content is 52.6% more engaging than static content. Mediafly
- Buyers spend an average of 13 minutes viewing interactive content compared with 8.5 minutes viewing static content. Mediafly
- 77% of marketers believe that interactive content has high reusability, which can increase traffic due to multiple exposures. Content Marketing Institute
- 73% of marketers agree that interactive content enhances message retention. Content Marketing Institute
- 87% of B2B marketers agree that interactive content grabs the reader’s attention more effectively than static content. Content Marketing Institute
- 47% of marketers consider interactive content one of the top three most engaging video types. Hubspot
Also Read: 100 of the Best Examples of Interactive Video You Need to See in 2023
Outstanding Results of Using Interactive Videos
A high return on investment is one of the most compelling reasons for using interactive videos.
Interaction can keep viewers engaged longer. With so many brands fighting for consumer attention, interactive videos are sure to leave a deeper impression. The following statistics reveal the outstanding results interactive videos can achieve for you.
- Interactive video is the fifth best-performing marketing channel for ROI after product-related, funny, trendy, and behind-the-scenes videos. Hubspot
- 47% of marketers believe interactive content is one of the most effective lead-generation tools. Hubspot
- Uberlift scored a 64% lead submission rate with interactive content. Demand Gen
- 75% of marketers found non-gated interactive content helpful for a higher level of lead nurturing. Content Marketing Institute
- 86% of buyers prefer on-demand interactive content. Demand Gen
- Companies with faster growth generate 40% more revenue from personalization than their counterparts. McKinsey & Company
- Interactive content can increase user activity by an incredible 591% because the viewer stays focused on the content. Brightcove
- The impact of interactive video ads on purchase intent is 9x higher than non-interactive videos. Magna
Also Read: How Personalized Interactive Videos Can Engage Customers
Challenges of Using Interactive Videos
Despite outstanding results, many marketers feel reluctant to include interactive videos in their digital marketing strategy. One piece of funded research examined significant challenges preventing marketers from using interactive videos in their marketing campaigns. Below are a few statistics from the research.
- A lack of budget prevents 33% of marketers from utilizing interactive video.
- 30% of companies don’t have the skills or the expertise to use interactive videos.
- 30% of marketers admit needing help understanding how interactive videos work.
- 25% of the respondents seemed unaware of the benefits of interactive videos.
- 24% of marketers think interactive videos are not important.
- Due to technological limitations, interactive video is unavailable to 19% of marketers.
- 13% of respondents weren’t keen on interactive videos because they thought it would take too long to implement them.
- 6% of marketers wish to implement interactive videos but can’t get the management on board.
- Interactive videos aren’t relevant for 3% of the companies.
Video Marketing Trends to Look Out For in 2023
With interactive video content incorporated into their digital marketing strategies, online retailers have been able to enhance the shopping experience for their customers. As a result, their ROI has increased, as evidenced by the stats above.
You should take note of the following trends to maximize your marketing and sales efforts through video content in 2023. Using interactive tools will help you bank on these video trends and supercharge your marketing efforts in the coming year.
Videos Will Become an Even More Important Part of Digital Marketing Strategy
- In the US alone, video marketing has grown into a $135 billion market. Magisto
- The e-commerce profits from live shopping are expected to grow 3x and could be worth $35 billion by 2024. Statista
- 99% of marketers intend to keep including videos in their marketing strategies, while 66% plan to allocate more or the same budget for video marketing. Wyzowl
- Among surveyed consumers, 15% preferred explainer videos, 16% preferred customer testimonials, and 69% preferred product demos as the most helpful video for making a purchase decision. Wyzowl
- Companies use different video types in their marketing strategies; 42% use live-action videos, 33% use animated videos, and 15% primarily use screen recordings. Wyzowl
Use of AR, VR, and 360-Degree Video
While not all interactive video platforms allow for AR, VR, and 360-degree video, we wanted to share some statistics that demonstrate what’s possible with interactive video and how powerful it can be to utilize new concepts in your marketing. Use this as proof that continued innovation in marketing technology will often yield big results.
- The clickthrough rate for 360-degree videos is 4.51% compared with 0.56% for flat frames. Magnifyre
- The watch time of 360-degree videos is 28.81% more than flat frames and the viewing time is twice that of the flat frame. Magnifyre
- Over 71% of consumers shop more with augmented reality since it helps them make more satisfying buying decisions. Retail Perceptions
- About 25% of consumers all over the world believe VR can be used for effective marketing of brands, products, and companies of all kinds. Perkins Coie
Numbers don’t lie, and the above statistics prove that interactive videos will play a crucial role in video marketing in the coming years. Not only for e-commerce and service brands but in the education industry, tourism industry, and non-profits—every industry can benefit from using interactivity to engage their audience. If you want to give it a go, request a demo today with COTU.
Sources
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