Show your products in unique ways, and capture consumer attention.
CPGs are scrambling to get their products in front of consumers, and with a $100 billion high margin in annual revenue, retail media is as competitive as ever. But consumers are constantly exposed to ads, and showcasing specific products is an uphill battle. As more and more retail media networks continue to emerge, how can CPGs leverage ad units that tell a story and command consumer attention? The answer is by pivoting to video.
Here are three ways video can make a powerful difference:
1.) Videos Boost Engagement
Nearly every website bombards users with a collection of product pictures and descriptions. Placing a static advertisement amidst a page of other static words and images makes it difficult for ads to break through the clutter. But videos stand apart. A recent study found that the average click-through rate for video ads is 7.5x higher than average display ads.
Across the board, users typically spend more time on a website that includes video. This means brands that take advantage of video increase their opportunities to influence consumers on their purchase path. And with 74% of marketers saying that video has a better ROI than static imagery, the proof is in the numbers.
2.) Videos Educate Customers
Demonstrating a product's value is difficult with a single image and brief description–it’s why Youtube is filled with so many videos that are reviewing and explaining products. According to a study performed by Amazon, 66% of consumers said they prefer watching a product video as opposed to reading about it.
A video that provides useful information is not only better at capturing and sustaining customer attention, it also works to educate them about the product's value. Ultimately inspiring them to make an informed purchase.
3.) Videos Lead to Purchases
The effectiveness of videos is seen most clearly in the ways it increases purchase intent. Because of their ability to hold customer attention and stand out amongst digital clutter, videos give consumers the ability to focus intently on what a product is offering. In fact, a positive experience with a video ad can increase purchase intent by 97% and brand association by 139%.
The average eCommerce site displays images of a CPG’s products right next to their direct competitors. But a well-placed video ad is akin to having a digital salesperson on the page talking directly to a customer, helping provide a story for the product and quickly facilitating the path to purchase. It’s easy to imagine, given the fact that 84% of people say that they have been convinced to buy a product by watching a brand's video.
Videos cut through the noise of a webpage and prompt a narrow focus from users, allowing brands to disperse information with as little distraction as possible. A well-placed video boosts engagement among users, allows brands to educate their customers about their products, and ultimately leads to more purchases. Put simply, videos work.
Adsta Knows Video
Adsta has established itself as an important complement to CPG’s retail media budget by giving brands unprecedented access to millions of shoppers nationwide. The multi-channel approach that Adsta uses to put ads in front of consumers now features dynamic video options aimed at engaging, educating, and ultimately inspiring purchases.
Is your brand using video to break through the static?