Commerce Enabled: A Guide For Choosing Shoppable Video.
Updated: Jun 3, 2022
What's the difference?
The category of "shoppable" seemingly has exploded and frequently we are asked, "how are you different?" Live commerce has transformed the retail industry and established itself as a new sales channel in less than five years in the East. Western brands are looking to replicate the success.
ln 2020 we had the incredible opportunity to speak with the iconic and very generous Tommy Hilfiger about Fade's solution. He told us that "Fade is on target." The elegant shopping experience enhanced the product, and could reduce abandoned carts and returns because of the ample attention given to the hero image and product detail—but then said this. "The bullseye is adding Live." It felt like a Kanye moment.
"You know what, maybe you're right."
Instead, we began exploring what it would be like if we not only embedded commerce capability into video but streaming video that was player agnostic for any business (more on that later). We explored and answered questions like what would film, and creative execs think? Would they want to see IP accessible this way? To find out the answers, we spoke with directors, show-runners, creative leaders across brands, film, tv, and advertising. We also received gems like this "inside of streaming platforms is one of the greatest untapped opportunities inherent in the digital transformation of the global economy." Covid turned the entertainment and media industry upside down, but the time helped us solidify that our thinking was correct. Consumer behaviors changed, new economies were created, and the business of publishing would need a solution such as Fade's to help them pivot.
We hope you find this guide helpful in distinguishing the three types of shoppable video solutions available to brands and publishers.
1. Commerce-Enabled Streaming Video
As the moniker implies, a commerce-enabled engine is connected to a streaming video IP or advertising on an (OTT) platform. Discoverability and purchases are contextual. This enables brands and publishers to allow product purchases to occur in and around the content such as a movie, advertising, or related BTS content—without redirects.
Fade Technology Commerce-Enabled Streaming Video capability is the first-to-market solution that enables commerce-enabled streaming video from the content itself. Our solution works on any website, player software, and digital publishing platform making it available to any business large or small to monetize. We built a white label enterprise-grade solution makes streaming video in playback shoppable for movies, series, music, advertising, animation, XR, available on mobile, desktop, and living-room experiences (tv). (After all, our roots are developing enabling software and devices for creators, payments, streaming, entertainment, and media.) We believe in the creative making process; thus, creators, creatives, brands, and agencies will appreciate the reimagined use cases for viewers to enjoy.
This hybrid model sits at the intersection of entertainment and eCommerce to help publishers, brands and creators create retention, growth, and new revenue opportunities on their own site properties. We have a few more fancy features that we will share when you “Contact us" to talk shop.
When to use:
Connecting 360 degree marketing strategies
Short and long-form storytelling video content and IP (:15 - 90 minutes)
Premium Ad placements acceleration in the upper funnel (increases ROAS)
OTT IP product placement
Tent-pole film and series events, previews, promotions & BTS clips, fashion shows, editors' picks, how to's, and more
Round-the-clock audience engagement for creators
Viewer platform growth, retention, loyalty, and brand building
Experimentation—pricing, product detail messages, sizing, colors, and positioning
Building presence on your own platform or paid media
Strategic partnerships & eCommerce supplemental revenue
2. Live Commerce or Live Shopping
Live Commerce is an event or timed-based tactic that combines instant purchasing of a featured product and audience participation through a chat function or reaction buttons and can be pre-recorded sessions with a hosted chat. Live commerce is entertaining and interactive. It shares customer decision journeys from awareness to purchase as a time-limited event-based tactic to generate a sense of urgency. Companies in China have reported conversion rates approaching 30 percent—up to ten times higher than conventional online shopping on a retailer's site.
When to use:
Clearing older stock
Generating a buzz for a trial or collab (not loyalty)
Experimentation—pricing, colors, sizes
3. Embedded Interactive Shoppable
While similar to affiliate marketing, where it prompts consumers to navigate away from a publisher's page, embedded shoppable can offer a hybrid of redirects and onsite shopping. In conjunction with written editorial such as editor picks, lists, and ads, this interactive shoppable version uses mostly static and GIF animations with CTAs such as "learn more" or choose your own adventure.
When to use:
Product education is required or a involves a longer purchase decision-making process such as appliances or electronics
Works well with time-based ads of 10 seconds or less
Programmatic ads using static and GIF animation
Experimentation—pricing, product detail messages, and positioning
Who is shopping?
Millennials are the top-spending cohort in fashion, beauty, and luxury goods, with 31 percent of the US market.
Boomers come in second, with 25 percent, followed by Gen X at 24 percent and Gen Z at 20 percent.
By category, Generation Z spends more on luxury apparel and accessories than millennials do, for instance (averaging $926 and $789, respectively).
Adults Gen Z derives 75 percent of their influences from social media, online content, and celebrities.
If you are an agency, publisher, or creator, Contact us to discuss our Commerce-Enabled Streaming Video solution. We'd love to talk shop.
#shoppablevideo #shop #discover&buy #commerce #Fade
Fade Technology is the first to market solution for Commerce-Enabled Streaming Video. Our enterprise-grade solution is built for advertising and streaming video (OTT) content shown on mobile, desktop, and living-room experiences. Fade Technology is a women-owned technology company in the San Francisco Bay Area.
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