Much has been written about how retailers are clamoring for vendors to provide digital enhancements for online product listings, particularly 360 spin videos of products. And why wouldn’t they? 360 spin videos have been proven to:
- Increase sales, with many online stores reporting increases of 10-40%.
- Boost engagement with consumers and increase their time on any given page.
- Improve the experience by giving the online experience a similar feel to picking up and examining a product in store. And according to an Adobe study, it’s a feature 91% of consumers consider to be a “must have.”
- Decrease return rates through improved purchasing confidence.
- Give your brand a more “established” look, by taking advantage of higher end digital features that aren’t universally used.
And yet, there are still plenty of vendors who don’t take advantage of 360 spin videos, effectively leaving money on the table. For those holdouts, all we have to say is: ARE YOU CRAZY?! The world isn’t flat, and neither are your products. Consumers want to examine their purchases from all sides to make the most informed decision they can. And if 3D examination is good enough for the real world, don’t limit yourself on the digital marketplace.
We took a quick look at Home Depot and Lowe’s websites and found that many products listed don’t have these much needed digital enhancements. Yet each year, most retailers (like Home Depot and Lowe’s) look at GMROI (Gross Margin Return on Inventory) to determine the value their vendors are providing. This figure is based on how many times inventory turns over. The higher the GMROI is for your product, the better chance you have of getting more product into their stores, increasing your display area, or attaining more prominent shelf position. And yes, online sales help your in-store standing. So why not do everything you can to drive sales for your retailers and distributors?
Now, let’s talk 360 spin videos! Here are a few tips from the pros:
- Get Requirements First: Different retailers have different requirements. Some want “stitched” videos, comprised of images stitched together. Others want the spin in straight video format. Still others are accepting more complicated 3-tier videos. So before you start shooting, decide what formats are needed to cover the broadest range of your channel partners.
- Use Precise Background Colors: Some retailers, like Home Depot, are sticklers for precise background colors, and will reject your video if you’re even a slight bit off. Make sure your videos are compliant!
- Save a .mov File: This is the format you’ll want if you plan to host your 360 spin videos on YouTube, Vimeo, or your own website, as they can’t play the full 360 view videos. In our experience, you should be able to get the .mov and full 360 video together for the same price.
- Post It Online, Your Way: Because you’ll have the .mov, might as well post it to YouTube and Vimeo! These sites allow you to collect stats so you can see how they’re performing. And because these versions won’t be on your product page, hosted by a retailer, you can add voiceover, sound, text descriptions, and more! This gives you extra opportunities to engage your audience directly, and allows you to use these assets beyond retailer product pages.
Ready to shoot some 360s? From products as light as a feather to 800 pound behemoths, we can help you get them done! And, of course, we can lend our expertise to implement a full range of communications strategies and tactics to help ensure your product succeeds in both retail and distribution channels. Just give us a call!