Six things we're learning about our shoppable Beta, plus a few stats.
We've recently launched a private beta for our shoppable video solution. At its core, it enables purchases to be made directly through a playback streaming video experience. Fade makes buying possible across premium advertising video units and storytelling content on any site. If you are a Mux developer using one of the following video players, sign up here to try it.
Here's what we're learning inside and out of the product during this period.
2. It's in the bull's eye. We've heard this before from industry executives and fashion icons. It's there because consumers want immediacy and direct engagement in immersive experiences.
3. "It's not disruptive to the video viewing experience."
4. Our gut instincts and early customer research on a shoppable solution that works with content and ad-serving workflows for the ecosystem were right.
5. Fade's shoppable solution is considered a unique inventory for "premium upper funnel media placement" outside of the traditional walled garden platforms.
6. Will consumers buy this way?" Industry stats have shown that shoppable videos can increase consumer engagement and purchases by 8-10X. (We're excited by this.) Helping to validate the readiness of consumer participation is one of the world's largest advertisers. Unilever has replaced its CMO role with its first chief digital and commercial officer to "reflect the blurring lines" between digital and commerce. The newly appointed Conny Braams had this to say in an Adweek interview:
"The convergence that's been happening in media, entertainment, and shopping channels has driven us to rethink the core of marketing and sales. We can now build brands and convert sales at the same time, so why would [we] artificially split that?"
—Conny Braams (Source: Adweek)
It's also worth mentioning that Unilever retained media partner WPP's Mindshare for a $3.3 billion assignment with an expectation of a focus on commerce. Digital experiences are progressing rapidly. Even the most mature companies are rethinking their digital strategies From 2D to Web3: Disney is working on a metaverse game plan.
The other good news.
Recent data from Magnite found that consumer attitudes towards streaming ads are positive. Of those surveyed, 53% reported discovering new products due to ad-supported content. And though audiences are splintered across online environments, dividing their attention among several sources of stimulus, a recent report from eMarketer, says 74.2% of US adults will use an internet-connected device while watching TV at least once a month this year.
Why our playback solution works for shoppable:
Unlike event-based "live-streaming," also known as shoppertainment, Fade's shoppable solutions work over premium playback streaming environments for video and audio and are aimed at:
Sell-side platforms: those that own and monetize premium video ads, brand content, or sponsored inventory packages (like Vice Media, Hearst, Complex)
Online sell-side players include virtual vMVPDs (like Sling TV, WillowTV, Hulu, or Pluto TV) as well as standalone streaming services (such as Crackle Plus, Netflix), and content aggregators (like Roku Channel)
Platforms that rely on editorial and affiliate models
Shoppable in playback streaming allows marketers to leverage existing or new creative assets, develop partnership opportunities, and create new revenue sources through paid media and sponsorships. Fade helps connect the dots to help marketers allocate video budgets at brand levels that align with evolving consumer behavior. The role of shoppable in playback is to enable 24-hour engagement such as sports clips, influencer editorial features, or to stand up marketing in advance of a movie or series release. For more information or to try the Beta, sign up here or contact us at firstname.lastname@example.org.
Fade Technology is collaborating with the ecosystem on the future of immersive entertainment. That includes building transformative shoppable experiences in video with next-gen technologies for every publisher—creating new revenue streams, better outcomes, and TCO at 10x lower cost than building and managing an eCommerce store on your platform. Fade is a women-led company that thinks about streaming video a lot. Contact us to talk about shoppable @ fade.technology