For fashion retailers, there’s little inherent value in metrics such as “likes” unless they convert into product purchases.
Bridging the gap between social metrics and brand revenue can be one of the most difficult aspects of social media marketing. There are so many ways in which to measure engagement within the various networks, but often businesses struggle with converting those online fans into tangible customers.
In a survey of U.S. marketers, 78% say their top business objective is better customer engagement, with the second top objective being revenue generation. For the best digital marketing results, these goals should be intertwined within your fashion e-commerce strategy.
57% of all apparel sales will be influenced online this year. As one of the fastest-growing segments in the retail industry, apparel and accessory brands rely on social media to increase product visibility and customer awareness.
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Pinterest is forging ahead of other social networks in that they offer pins with prices attached, along with a price-pointed gift section. Others like Facebook and Twitter haven’t had as seamless a transition with apparel products, but Facebook’s foray into “Gifts” has had a promising start.
YouTube, however, is the surprising game-changer. According to eMarketer, online product videos increase consumer confidence in purchases.
Four in 10 users visited a store in person or online as a result of watching apparel videos. Of those videos, about a third of them were watched on YouTube, with the others viewed on retailer or department store sites.
When it comes to the content shown in the videos, 36% of U.S. online shoppers watched a customer “testimonial/review” video while shopping. Consumer-generated videos and advertisements were also considered. 34% report feeling encouraged to purchase after viewing an online video ad.
YouTube recently unveiled a new social commerce tool: External Annotations Beta Program. Juicy Couture is one of the first to take advantage of these “shoppable videos,” which possess the potential to make an even greater impact in the e-commerce world. An example of the Juicy Couture video is shown below:
It’s important to implement a digital marketing plan that includes optimized videos. Cross-promotion increases brand visibility – so although YouTube is valuable, the videos should be shared on numerous other platforms as well.
Social media optimization (SMO) will improve your video marketing efforts to ensure more potential customers view the videos and then move through the purchase path. If correctly optimized, your videos should increase brand sales and overall ROI.