Innovation in digital consumer experiences, from advertising to shopping, has happened rapidly. Today, the traditional purchase funnel no longer accurately captures these experiences. The funnel has become a loop. Discovery, research, purchasing—online, all of these happen in a matter of seconds. In this new era of commerce, the customer’s journey never ends.
So what does that mean for brands? How do they keep up with this purchase loop? Recently, KERV gave a presentation on the future of commerce automation and how interactive video might be the answer to these questions.
The Tandem Acceleration of e-Commerce & Video
In recent years, there have been two major shifts in digital experiences. The first is the rapid growth of video consumption. The second is the rise in purchases being completed online.
This tandem acceleration has created a unique opportunity for brands to bridge content and commerce together through online video. You don’t just have to take our word for it, of course—the research backs it up:
- The pandemic has accelerated the shift to digital shopping by roughly five years (TechCrunch).
- US retail e-commerce is expected to grow to more than $1 trillion for the first time this year, accounting for 16% of total retail sales (Insider Intelligence).
- Over 2.56 billion people worldwide will buy something online this year (eMarketer).
- In 2022, US advertisers will spend $62.96 billion on programmatic digital video, up from $52.17 billion in 2021 (eMarketer).
- This year, the average person will spend 19 hours per week watching online videos (Hubspot).
Generating New Paths of Commerce
That’s why, at KERV, we believe video will be the leading way brands generate new paths of commerce. New innovations in technology, like interactivity, have elevated video beyond just a top-funnel tactic. Video commerce has evolved from a passive experience to an active one.
Previously, video could only include things like a phone number at the end of a video with no other engageable means. Now, brands can engage users and appeal to the consumer’s full journey, all through a single video. Technologies, such as KERV’s patented, interactive tech, invite consumers into a two-way conversation through video.
In fact, we’ve found that interactive video can be used in numerous ways and adapted for any industry need:
- Travel – Consumers can dive into a single piece of content and get everything they need for their future travel plans in one video.
- Retail – Brands no longer have to settle for a single or static link out opportunity that takes users to a home page, instead they can link out every single product in the video.
- CPG – Brands can easily showcase product variants and/or retailer options from a single video.
Recently, we had the honor of presenting our thoughts on the future of interactive video and commerce automation at Night Market’s eCommFronts 2022. To learn more and hear the in-depth discussion, check out the full presentation here.