Tolstoy, a market-leading video-based platform, is making waves in Australia by revolutionising the social commerce experience and helping brands drive sales through shoppable and interactive videos.
Consumer expectations for content have evolved since the inception of social media, and the growth in the popularity of short-form, authentic, and off-the-cuff video heavily influenced by TikTok, Instagram Reels, and Snapchat, means an increasing number of people consider it the new norm.
Brands find themselves uniquely positioned to foster connections with their customers by sharing their founder story—an idea devised by Tolstoy—to showcase their brand’s unique personality. When customers feel connected to brands, over 50% will spend more with that brand, and 76% will choose them over a competitor. Then comes the shoppable video feeds with amazing, eye-catching product videos to show how their products look in real life on real people.
Tolstoy’s compelling interactive and shoppable videos can capture an audience’s attention with an experience as immersive as Tiktok, and can be embedded in e-commerce sites, sent via SMS and email, or displayed as stories, a Carousel or Widget. This enables users to scroll through videos to view products and buy directly from the videos with “add to cart”/ “shop now” buttons..
On the tail of TikTok’s incredible success, Tolstoy is poised to be the next evolutionary step for businesses to extend their reach beyond ageing social media staples like Facebook and Instagram.
The company now employs 50 staff and has signed on 5000+ brands including hundreds of Aussie businesses like LSKD, Culture Kings, Tropeaka, and Hero Packaging.
Shoppable video is rapidly transforming the e-commerce storefront as businesses realise the tremendous potential of this incredibly effective tool. Data suggests that toward the end of 2022, over 82% of all consumer online traffic will be spent viewing video content.
Says Dov Kaufmann, c-founder and CEO, Tolstoy: “Audiences of tomorrow demand more complexity and authenticity. Tolstoy can channel this desire to help businesses build the valuable connections they need to succeed and stand out from their competitors.
“Australians are very forward thinking and receptive towards new e-commerce models which is why Australia remains an extremely important market for us.”
From web searches to shoppable feeds, video is increasingly driving purchasing decisions, with Tolstoy’s data indicating a 307% conversion increase, 40x ROI, and up to 4x more time on-site for brands that incorporate its video feeds.
Recent statistics also reveal that the average person spends nearly two hours a day watching videos, and video posts attract 48% more views than static posts.
These subtle shifts to video across multiple platforms are a sign of more significant shifting trends in consumer behaviour—and that the future of e-commerce lies in video content.
Currently, the company has 40 million people watching its videos every month and can garner valuable engagement data along the way to further enhance its value proposition to paying customers.
Says Kaufmann: “We consider ourselves to be a data company as well,” says Dov. “The future of e-commerce is heavily invested in data and analytics. Through this data, Tolstoy’s customers can propel their commercial decisions with informed insights that will heavily increase their campaign’s impact.”
No product on the market comes close to Tolstoy’s scalable, interactive, and hyper-personalised shoppable video feeds; neither is there a comparable product when it comes to integration, automation, and the capacity to leverage influencers and customers to create content.
For retailers, there are opportunities to develop new types of shopping experiences by meeting their customers where they hang out online, and by connecting in new ways and engaging influencers/creators.
For brands it means embracing the shift from big to small, empowering small businesses, and engaging directly with consumers through social platforms.
One thing’s for sure: Video is a must in the e-commerce operations of the future, a model retailers and businesses must embrace if they wish to stay relevant and successful in this highly competitive market.