• by Jack Loechner , Staff Writer @mp_research, January 19, 2015

According to new research from Liveclicker, the average order value for customers that watch video on a product page is at least 50% higher than a site’s overall AOV for more than half of the retailers surveyed. Further, retailers with video on most of their product pages have a 68% higher AOV than retailers that have video on just a few of their product pages.

Also, if a customer watches more videos, their AOV is higher. Analysis determined that customers that watched 10 or more videos spent an average of $348.52 compared to $159.19 for those that watched just one video -- 119% more.

Respondents with video on a majority of product pages realized a 79% higher conversion rate (9%) than those that had only a few product page videos, and a 31% higher conversion rate that those with “some” product page videos.

In addition, 88% of the respondents reported an increase in conversion rates when video was added to product pages, with 35% reporting extreme increases over the site average. And, retailers with video on most of their product pages have a 79% higher conversion rate than those with video on just a few of their product pages, says the report.

The study also determined that keeping videos active, increasing the number of videos watched and optimizing video for mobile will help to drive the success of brands’ video programs. For example, the more active a retailer’s video library, as determined by the number of videos played during the last 30 days, the higher the revenue it will generate. For each 1% increase in active videos for those surveyed, average monthly revenue increased by more than $13,092.84, according to the report.

The conversion rate of shoppers who viewed videos less than 30 seconds was 89% higher than the conversion rate of shoppers who viewed longer than 180 seconds. Shoppers who viewed sub-30 second videos converted 33% more often than those watching videos between 60 and 180 seconds in length. Shorter is better, concludes the report.

Finally, the study found that mobile is growing in importance with regard to video plays. Mobile devices made up about 19% of e-commerce video plays in 2013, with smartphones and tablets accounting for more than 25% of total video plays during the 2014 research period. Analysis also determined that in some industries, like personal care and jewelry, mobile video plays were even higher, with the majority of video plays in personal care happening via mobile device.

 Ben Kopetti, director, video commerce strategy at Liveclicker, suggests that “… as mobile devices become easier to shop with… make up a greater part of the e-commerce market… important that consumers are able to engage with video on these devices… ”

The data set included in excess of 12.5 million quarterly video plays and over 100 million video player impressions. With such a broad data set, researchers were able to identify trends and success patterns almost any online retailer can use to increase the performance and ROI of video in online and mobile environments, says the report.

To download the complete report, please visit Liveclicker here.

N.B. Liveclicker will be hosting a webinar discussing findings from the report on Wednesday, January 21, 2015 from 1:30-2:30 p.m. EST.  To register, please visit here.