Even though New Year’s Eve is only days away, I’m sure many people have yet to determine their New Year’s resolution. Yes, resolutions are cliche and very rarely executed, but this year there is one resolution we can all make that will benefit everyone in the eCommerce space. What, you might ask?
To get conversion driven eCommerce video on as many eCommerce sites as possible!
This is by far the best resolution to date. Not only is eCommerce video production and distribution easy to accomplish with Invodo’s complete video solution, but video helps manufacturers and retailers sell more while engaging and converting consumers. If there is one thing to change about your website for 2010, it’s adding video.
Check out how to create and syndicate eCommerce video for your business through Invodo. Also, enjoy some pictures from Invodo’s holiday party!
Video sells. No longer can companies deny the power of online video and the impact it has. Hence, marketers around the world are placing video as a top priority for 2010.
A recent report by Ad-ology noted that one in four small businesses are planning to budget for some type of video creation in 2010. Even small businesses are seeing the need to stay competitive and reap the benefits of video.
I would imagine, especially as a marketer, that video is a daunting idea. Who is going to produce the video? How do I know what type of video I need? Who will edit the video? Once I have it, what do I do with it? Do I need a player? How much will all this cost? How do I measure the results? Hosting and streaming costs are just out of my budget! AHHHH!
Don’t worry. I am sure you will be able to enjoy the Holidays knowing the Forrester report gave video an 80% likelihood of increasing marketing effectiveness in the next three years, an you don’t have video.
If you are a brand or an online retailer you know by now you not only need video, but eCommerce video. A recent white paper released by The Video Commerce Consortium outlines in detail how to create eCommerce video that compels shoppers to buy. Pretty cool, but many don’t have the time and resources to plan, execute, and distribute their video.
That is where Invodo comes in. We are a one stop video shop. Invodo produces videos that sell, puts them in front of consumers, and takes care the player as well as hosting and streaming.
Rico Nasol from Zappos.com, a leading online retailer, recently spoke at the Streaming Media West 2009 show about the effectiveness of product videos on Zappos.com. With a current library of 8,000 videos, produced in-house and starring their own employees, Zappos.com is seeing a sales impact of 6 to 30% just from implementing product videos on their site.
Zappos.com bases their video success on a combination of two things: 1) How the product is presented in the video and 2) Who is presenting the product. Similarly to Zappos, Invodo has always been a proponent of authentic, genuine, and non-gimmicky product videos that succinctly demonstrate a product’s uses, features, and benefits; as mentioned here and here. To make an effective eCommerce video, one must put the product into a context that the consumer can relate to and find value in.
Zappos is in a unique position being able to facilitate their own video production and source their own talent. Because they have seen such success, they are on target to produce an additional 50,000 videos in 2010 utilizing 10 fully equipped studios.
For online retailers who see the need for eCommerce video but are unsure on how to get started, Invodo offers every retailer a turnkey video solution from production and editing, to hosting and streaming content through our embedded video player. Get started now!
Here at Invodo we often talk about the conversion rate increases that can be achieved with eCommerce video. We’ve seen increases from 30% up to 112% reported by Practical eCommerce, eMarketer and others. But how does a 400% difference in conversion between viewers and non-viewers grab you? And what if it included other benefits, such as reduced returns?
That’s just what online jewelry retailer Ice.com found, as detailed in a recent Internet Retailer news story. Information from customer reviews along with call center feedback pointed to the issue: for products like jewelry, static images just don’t convey enough information. By replacing their photographs with video, Ice.com boosted conversion 400% and dropped returns by 25%. The benefits are compelling, but the online retailers we work with find three basic challenges to deploying product videos on their sites.
Acquiring the right content
It’s one thing to create a single video for a homepage or category page, quite another to create unique videos for each of your key products
Managing content from multiple sources
Different manufacturers will supply content with a different look and feel, and maybe even format. That creates an inconsistent experience and IT headaches
There’s no shortage of available platforms, but most aren’t focused on driving conversion or blending seamlessly with your site. Those that do leave you to solve the first two problems on your own
Is one or more of these barriers slowing down your efforts to get video on your site? Or are there other challenges? Let us know what they are. We’re here to help you solve them.
Ahh, it’s over! Both Black Friday and Cyber Monday are now in the history books for 2009 and boy do I have some takeaways.
First of all, the answer is YES. I braved the brick and mortars on Black Friday in hopes of finding perfect gifts and maybe something for myself at incredible discounts. While seeking out all the material possessions my heart desires, I got to thinking….. Why am I in a store rather than sitting at home, shopping from my computer with a leftover turkey sandwich and piece of pumpkin pie?
Was it…..
The great deals! Nah….I get great deals when I shop online.
Shopping time with my Mom! Well shopping on Black Friday is not what I call the ideal bonding situation, so nope!
The exercise! Isn’t that what gyms are for?
Basically, I stumped myself on why I was in the middle of pure mayhem rather than utilizing the amazing technology available to me (a.k.a. online shopping). Then it came to me as I was looking around the department store at the beautiful Christmas decorations, smelling the potpourri just put out, and talking to a sales women who was describing a new pair of boots that would be perfect for work and going out. At that moment, it didn’t matter that I could be trampled because I was that deep into my shopping adventure.
Stores invest lots of money into retail spaces in order to create a specific and consistent shopping experience for the consumer. As any retailer knows, this is highly important for both branding purposes as well as consumer loyalty. But what about online stores? What are they doing to draw me in, keep me there, and make me buy? I have seen efforts on behalf of e-tailers to enhance and bring additional dimensions to a previously banal online shopping process but its really not enough. Consumers, like me, want more.
Until we figure out how to disperse scents through monitors, video is the next step and the key to elevating the online shopping experience. Video can literally act as a virtual salesperson describing and contextualizing products, giving the consumer a rich and interactive experience. It is inherent that online retailers see the opportunity to utilize the technology available to them to both expand their brand but more importantly, differentiate their offering.
Thankfully I have been able to see first hand the positive impact of video on retail websites. As a prime example, check out the TaylorMade R9 Driver on Golfsmith’s website versus the same driver on another website, without video. Which shopping experience do you prefer?
Come talk to Invodo to see how we can transform the way you sell online.
Here at 
invodo
com
