It is common knowledge that broad access to the e-commerce market is a key component of a comprehensive e-commerce strategy. To support our customers in reaching their key audience, Brightcove is excited to introduce the ability to deliver video into China through a partnership with global e-commerce giant Alibaba. As the first video provider to offer this capability, our customers are able to reach a vast new market and significantly grow their e-commerce opportunity.
The past year has only heightened the importance of a strategic approach to e-commerce which includes the use of video, expansion to all markets and leverage social for awareness. In fact, global e-commerce sales in 2020 jumped 27.6% compared to the previous year, reaching $4.280 trillion – far ahead of eMarketer’s mid-pandemic assessment of 16.5% growth.
Now that we’re almost halfway through 2021, brands with merely adequate e-commerce experiences have to offer more: experiences that are captivating, engaging, and that increase cart conversions like never before. But where do you begin? With these 3 steps:
1. Use more video
Video connects with customers way more than still pictures or text on a page. With video they can see how clothing moves when someone wears it...or how to install an appliance...or the meals they can cook with the spices they’re buying. Video brings products to vibrant life and entices people to buy – why else would so many social media influencers turn to video first to sell their products? Video is versatile, too: no matter where a prospect is on her customer journey, there’s a type of video that will move her closer to a purchase. You can share video across social channels to expand your audience and attract new customers, add videos to product pages to encourage viewers to add it to their cart, and create areas where customers can learn more about a product or watch testimonials and reviews from actual users. Video is the thread that can weave your brand, your tone, and your mission throughout the sales process.
2. Expand into China
As we noted above, e-commerce saw significant growth globally in 2020 – but China made history, and it doesn’t look to be slowing down any time soon. Recent studies have shown that China accounts for over 50% of global ecommerce transactions. Think about that: more than half of all e-commerce sales around the world occur in China. It goes without saying that brands need to ensure that their e-commerce experiences are as engaging in mainland China as they are in the rest of the world, but this has been a challenge due to Chinese regulations...until now. Brands looking for a partner to reach this vast and enthusiastic market can turn to Brightcove. Our solution allows you to easily create a single video strategy and workflow that works around the world, including China. And it’s all backed by the reliability, scalability, and security of the Brightcove platform to bring you the extraordinary growth opportunities the Chinese market offers.
3. Build awareness on social
Though the fate of social commerce is still up in the air, social media continues to shine (and grow) when it comes to product discovery, education, and consideration. Instead of focusing on social commerce experiences, brands should use social media for top-of-funnel brand awareness and demand generation. We all know at least someone who found a brand on social media and made a purchase – I, for example, bought my wedding flowers on Instagram – but it’s an ever-evolving channel, with new platforms being introduced (hello, TikTok!) and viewer trends constantly shifting. Our favorite tip from marketing gurus is to learn from the experts: categories like fashion and beauty have already been successful at driving conversions on social media, especially with limited-edition product launches with a short path to purchase. Can other categories build on their success? That remains to be seen.
With these three tips, every marketer can benefit from the ecommerce explosion – but remember, it all starts with the most powerful way to connect with customers: video.