How Video Analytics Help Retailers Drive Revenue
by Christian Ofori-Boateng on Feb 28, 2017 8:30:00 AM
Video analytics may not seem to have much to do with retailers, especially retailers who don’t sell video content. In truth, however, they can redefine crucial advertising strategies and illuminate potential revenue streams. A video is part of essentially every consumer’s everyday life. While video advertising is powerful, it’s important to learn from customer behavior to create stand-out content they will remember after watching fifteen different commercials. Video analytics also show the true strength of potential advertising partners.
See What Does and Does Not Work
Video analytics help you make the best ad content. They offer insight into both the mind of the consumer and the realistic desirability of your product. With the right tools, you can see how long a customer watched a video if they even finished the video and the content of the video. With video analytics, you can rapidly compare different strategies and ad campaigns. Are progressive storylines appealing to audiences? Do your customers like upbeat music in their ads? Do they prefer to see an actor or actress with the product, or do they prefer to just see the product itself? The number of variables in a collection of video content is staggering. Sometimes it’s difficult to tell if a product is unpopular, so simply its associated ad. With video analytics, you can compare similar ads and eliminate the vast majority of variables.
Most importantly, video analytics give you valuable data you can reconcile with other analytic data sets from across your advertising and sales departments. Video data is imperative in creating a picture of customer shopping habits. You can get an idea which products will sell best in a particular region. You can just as easily adjust advertising for unsuccessful products by examining past successes from a particular customer base. Customers interact differently with video content than any other media, and their behavior can help shape your strategy.
Video Analytics Help You Choose as an Advertiser
As a retailer, your business depends on getting the right ad in front of the right eyes. Customers must come to your shop, in person or online, and the way to reach new customers is through advertising. Ads can also bring customers back for sales and major discounts.
The internet is full of videos and websites, like YouTube, demonstrate how hungry audiences are for this type of media. Video advertising not only associates your business with something the potential customer has already chosen to watch but also engages them with the type of media they clearly favor. Successful video ads depend on choosing the right advertising partners. Video analytics allow you to examine how popular a particular series, star, or subject really is. It can also let you see the most strategic time to insert an ad.
Without video analytics, you leave your advertising and sales departments blind to crucial information about your customers. Shopping habits and innate preferences show in what video content customers prefer. Video analytics also help retailers find the right advertising partners for their products. These advantages bring revenue and limit waste.
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