TV viewing figures are on the decline. The UK has seen a 13 per cent drop in viewing in the past two years, according to Accenture – far from promising for TV advertisers. Conversely, due to a deluge of platforms, services and devices, online video is stronger than ever.
The IAB reports that the UK’s online video ad spend grew by 56 per cent to £292m ($387m) in the first half of 2015, demonstrating the recognition of the ad potential of online video. Its latest iteration, shoppable video, brings another opportunity to win over brands and advertisers who may have otherwise been unconvinced of its success.
Ads that earn money in seconds
Shoppable video provides a direct route to commercial opportunities, by providing a link to shop the products featured in the video. Burberry’s runway video, for example, incorporates new looks with the purchasing experience, allowing viewers to scroll fashion stills, click for more information, and buy. By combining video with an interactive component, brands can capitalise on‘in the moment’ consumer impulses.
Many have been quick to realise the potential that shoppable video holds and are beginning to experiment with the format, developing innovative campaigns that take advantage of the decreased gap between purchase inspiration and transaction completion.