22 Feb Truths About Interactive Video
Since the 1990’s, the internet has revolutionized commerce and culture. This is contributed to the rise of instant communication, social networking, and online shopping sites. In 1995, there were only 16 million internet users and the average American spent 30 minutes online. In 2014, the average American was spending up to 11 hours online. Today, there are over 250 million internet users in the United States alone, accounting for roughly 87% of the US population.
Along with the evolution of the Web, online content including video marketing and interactive video have become increasingly popular. Brands have adopted interactive video in their marketing strategies, allowing users to interact with a brand through gestures, voice, touch, and clicks.
As the interactive video industry grows, we know you may have some questions about new technology and how you can use it to market your brand. We have come up with five conclusions about interactive video to boost your interest.
Who is watching your interactive content? Everyone. As of January 2014, 97% of adults aged 18-29, 93% of adults aged 30-49, and 88% of adults aged 50-64 are online. With such a large percentage of internet users in the US, it is important that your video is reaching the right audience. Luckily, interactive video allows you to collect information on buyers and potential buyers. As viewers interact with a video through clicks, a brand can use their replies to acquire data about audience interests, allowing them to provide more significant content in the future.
The industries that benefit from interactive video – Interactive video improves business for a variety of industries. Innovative brands are integrating interactive video into their marketing, customer service, sales, advertising, and educational strategies.
Sales – Video is made shoppable with IV technology, allowing customers to make purchases directly in a video.
Marketing – Brands can integrate interactive stories that attract customers and achieve high conversion rates.
Advertising – Interactive video permits two-way communication between advertisers and their audiences, initiating engagement and action.
Customer Service – Interactive video helps companies increase customer satisfaction by creating personalized and entertainment experiences.
Education – Brands can create interactive tutorials and informative programs with better participation and retention rates.
Entertainment – Musical groups have recently debuted interactive music videos. Example: Arcade Fire’s “We Used to Wait”
Regulations on what can be sold – Video Checkout and other interactive video platforms don’t prohibit the types of videos being uploaded, however clients are expected to conduct business within the parameters set from their merchant account. Account providers will review video content to ensure there aren’t any individuals facilitating illegal activity.
Social media platforms – Most interactive video platforms can integrate to any social media platform. Although YouTube does not allow for third-party overlays, native video on social media networks is on the rise making Facebook, Twitter, and LinkedIn popular platforms for interactive video.
Pricing of Interactive Video – Interactive video is predominantly used by companies with larger budgets, and we believe every brand should have the opportunity to utilize interactive video technology. With any new product, prices are higher in the early stages and they will eventually decrease. Interactive video is a new technology, and it will become more affordable over time.
There is only room for advancement when we consider interactive video’s future. Emerging technologies, the constant growth of interactive video enterprises, and the continuous success of social media make up for a promising future for the industry. The market is ready for the perfect interactive solution, and Video Checkout has the technology to make it happen.