There’s no doubt that more information provided for products leads to an increase in sales. The more consumers have the ability to see products demonstrated, and have their questions answered with product details provided, the higher consumer satisfaction is. Online retailers who use video extensively have seen conversion rates rise across the board. Here are a few statistics gathered by Econsultancy on increases in sales:
One key takeaway to note is that the more details provided in different ways, the higher conversion rates are – websites using just one method to provide information to consumers will not be as successful as e-commerce websites with a range of features. 360 degree images on product pages is an example of this – rather than showing just static images, the ability to rotate products and see them in greater detail leads to higher conversions. 360 product views lead to a 20% rise in conversion rates versus pages without them, and lead to a drop in return rates as well.
Product videos bring the highest rate of return on investment – product pages that include videos have a 25% increase in conversion rates and even fewer returns than what a 360 image view delivers.
As Gerrard Dennis of The Simply Group, who conducted the research, notes, videos have the ability to answer questions customers may have about products, producing an experience online similar to shopping in store.
Dennis argues this can be even better than the in-store experience, “since you get the most knowledgeable member of staff each time, not just the Saturday guy.”
Bringing all of these components together provides the best opportunities to increase conversion rates on e-commerce sites. To increase conversion rates and decrease product returns, you need to optimize your e-commerce strategy to answer customer questions – and that includes techniques such as:
H/T to Econsultancy