Returning from the Video Commerce Summit has energized everyone here at Brandlive. After speaking with industry leaders and demonstrating our role in the video commerce marketplace, we’ve come away with new insights into the future of video commerce.
“Storytelling in general is a longtime business practice,” says Fritz, speaking on the subject of how new video commerce technologies are being integrated into older core business practices. “You have to tell a story about what a product is. Video is a great way to tell a narrative. [In terms of customer service], video means being an authority and resource to help consumers make purchases.” Sam views these new technologies as a complement to existing strategies. “It’s a new way to reach consumers – there was something said in one of the sessions that I attended: ‘consumers want brands to be their friend.’”
Sam also thinks the consumer-brand relationship is being heavily influenced by new e-commerce trends. “It’s changed the way marketing works – they’re not selling to you all the time, they’re posting relevant content that you want to check out and want to follow. They’re creating a more personal relationship.”
The group also saw how live video is especially influential in the video commerce industry.
“Obviously, live video is great for building relationships because it’s not polished,” says Sam. “It’s a very honest, personal way to communicate your product. People can put a face to your brand.
“Live video is the most honest and personal form of video you can get. Brands that are concerned about building personal relationships and having brands as friends – I think it’s a great fit.”
Nick views video, particularly live video, as an improvement upon the traditional e-commerce format of product detail pages. “Video is a much more rich message than when you’re reading a description. And I think that’s where live video is especially important, because of the interactivity and feedback it allows.”
“We’re the only company focused on live video chat,” says Fritz, commenting on Brandlive’s role in the industry. “There’s a lot of companies doing click to chat, and driving e-commerce that way. We’re evangelizing the use of live video to drive commerce.
“What we’re trying to do is take your best salespeople and put them on the web in a scalable way. The creator of your product can talk to a lot of people at the same time without it being overwhelmingly expensive.”
One big takeaway everyone agreed on were main industry trends for the future, and how integral video will be in e-commerce and online marketing.
“Companies can’t really ignore video,” says Fritz. “If you’re in e-commerce, there are a couple top tier things that you have to worry about – traffic strategy, for example. But once you get people there there’s a certain set of tools to move people along in the sales process. Things like reviews, product comparisons, social sharing.
“If you have a product details page that doesn’t have any video on it, are you missing one of the top three tools to execute your business? Probably.”
This was a video we enjoyed from the conference that was a fun way to show the power and effectiveness of video. Warning: there is occasional bad language.
If you're interested in reading more from the session, click here.