Studies have shown that people resonate more with videos with its stimulating visuals, as compared to still images or written content. They get to witness other emote and recount their personal experiences with the products, making it that more engaging. Video content, especially if created by the everyday Joe, has the power to connect with viewers.
Statistics show that almost 92% of mobile video viewers share the videos they watch. A video message has tremendous value with one minute of video content providing value equivalent to 1.8 million words.
Thus, it is natural that digital marketing experts are espousing the importance of sharing video content through social media platforms.
How brands utilize video content today
Currently, brands rely on monetizing content either through advertisements or CPC programs. Though a safe, tried-and-tested method that may be useful, these forms of advertising fail to create emotional engagement between the brands and the consumers. Brands end up investing big sums into marketing costs, yet it does not translate into sales for them.
Engaging their customers firsthand is one innovative way of marketing. Customers love to post and share videos of the products they use. There are many consumer influencers actually generating videos and circulating them on their social media network. The common styles include product review videos, fun videos, and promo videos that are not only engaging but also informative. However, these endeavours have not realized their true potential as the social platforms place restrictions on brands from monetizing these videos. It is an untapped function that presents great potential for the future of social commerce.
Fanfare to the rescue
Noting the gap in the market for consumers to monetize personal content, Fanfare has introduced the concept of curating and converting consumer-generated videos into shoppable videos for brands. As a community-based, Blockchain-Powered Social Commerce platform that caters to both brands and consumers, let us see how Fanfare has revolutionized digital marketing, integration social media into eCommerce platforms.
How does Fanfare reward consumers?
As the world’s first blockchain-powered Social Commerce ecosystem, Fanfare promotes closed-loop interactivity between consumers and brands. The platform of Fanfare allows the consumers to create videos about brands they love, with brand tags notifying brands of these updates. They also enable the brands to convert these videos into shoppable videos, if they feel the style of promotion matches the brand’s taste. Brands can directly add a BUY button on any consumer-generated shoppable video, allowing fellow Fanfare users and consumers to buy the product directly by clicking on it. Fanfare has a unique video verification feature that allows the brands to include all the certified consumer-generated videos on their official channel on Fanfare. It enables consumers to view these review videos at a single location without having to skim through various channels.
These shoppable videos allow the consumers to save valuable time from doing online searches. They can view the product reviews on the app without having to visit the official website of the brand. The videos contain the positive as well as negative aspects of the product, thereby presenting a comprehensive product review to fellow consumers. Reviews include valuable tips regarding how to use the products to their benefit. There are options for linking the shoppable videos directly to the brand’s online store, or any dominant eCommerce platform. Fanfare entices customers to buy through their platform through such incentives. It presents Fanfare an open and universal Social Commerce platform, with the potential to bring millions of consumers and brands together.
What do you earn by sharing and watching videos on Fanfare?
Fanfare has introduced the concept of FAN tokens as a method of remuneration. Video content creators earn FAN tokens when the brands convert their videos into shoppable videos. Consumers need not buy anything to earn FAN tokens. They can do so by sharing these videos in their social media circle.
It is a win-win situation for all parties:
- Users earn FAN tokens by being active on the app. Watching and sharing videos can earn you FAN tokens. They get valuable rewards if the video wins the campaign.
- Content creators earn FAN tokens the moment brands add a BUY button next to their shoppable videos.
- Brands earn revenue through the point of sale purchases by consumers, after watching consumer-generated shoppable videos. Brands are entitled to their exclusive brand channel containing brand-tagged consumer-generated videos, and can also create their own campaigns.