This month, Demand Metric released a Brightcove-sponsored report on interactive video, with participation from our interactive video partners and customers. This report offers a high-level overview of the current definitions, adoption, applications, and effectiveness of interactive video. The following blog post from one of the participating partners shares deeper insight into topics discussed in the report.
There’s no doubt that interactive video is experiencing a booming renaissance right now and savvy brands are looking toward a full-stack, connected video platform to enrich video content quickly and effectively.
The returns we’re seeing with our WIREWAX customers are undeniable:
- Shoppable videos typically make a 10x return on investment within the first few weeks
- Videos experience 3.5x longer engagement over non-interactive content
- Videos average a 14.3% CTR (vs.an average 1.84% reported by 2015 research from Business Insider)
- A recent A/B test by OMD revealed 238% increase in time spent on site when the viewer came from a WIREWAX experience compared to a non-interactive video
- So, simply providing audiences with a richer video experience is unquestionably powerful and rewarding. The recent Brightcove and Demand Metric report, Interactive Video Benchmarking Study, reaffirmed that “greater usage of interactive video does indeed produce a higher rate of benefits experienced…” The more you create, the greater your return.
Let’s face it, interactive video is nothing new; in fact it’s been around in various guises for over a decade. But traditionally, it’s also been expensive, clunky, and laborious. The volume of accessible video content and the growing appetite for its consumption has demanded a more efficient, slick, and friction-free solution. At WIREWAX we’ve put all our energies into streamlining that process, breaking down barriers, and using artificial intelligence to do all the heavy lifting. The result is the ability to create interactive or ‘connected’ video experiences in minutes, not days, and for $ not $$$$.
This Demand Metric report is pretty perfectly timed with the announcement of our new feature for Brightcove and WIREWAX users that is specifically designed to make the process of creating interactive video a lot easier to execute at scale.
Simplified Customer Workflows
Working with Brightcove clients such as Time Inc., we’ve learned that workflow simplicity is crucial to success. We’re acutely aware that, while inside the WIREWAX environment the process is fast and pain-free, but ingesting your source files and distributing your finished experience can be a bottleneck for those wishing to enrich and publish at scale. As an enterprise-class video platform, Brightcove Video Cloud is able to handle any volume of ingest extremely fast. We’ve therefore worked to merge Brightcove and WIREWAX accounts and have your Brightcove videos ready to enhance without you lifting a finger. Today we’re happy to announce WIREWAX Sync™, an industry first, offering advanced interactive video authoring with one-click synchronization.
Once your Brightcove account is connected and the plugin is added to your players, simply select which videos you’d like to make interactive, and that’s it. The interactivity appears instantly inside your Brightcove Player, wherever your video is published. Our systems take care of everything – you do nothing.
From today, anyone with Brightcove and WIREWAX accounts can use WIREWAX Sync™ to start creating new interactive experiences now or to breath new life into existing content to add deeper engagement, improve ROI, optimize content, and increase effectiveness. Your video marketing should quickly generate the big returns outlined in the Interactive Video Benchmarking Study.