Video is becoming a must-have for online retailers. Bizchair.com is at the forefront of the retail video revolution, driving business results by deploying hundreds of videos on product and category pages. How and why does Bizchair.com use video? What are some of the key video features that increase a video program’s ROI?
Register now for the upcoming Internet Retailer webinar: Lights, Camera, Transaction: Secrets to Video for Retail. Join the expert presenters as they discuss the following:
Presented by:
Sean Belnick – Founder and CEO, Bizchair.com
Don Davis – Editor of Internet Retailer magazine and of InternetRetailer.com
Russ Somers – Director of Marketing, Invodo
Date: Tuesday, October 18
Time: 2pm EST / 11am PST
Trying to add video to your eCommerce mix without a clearly defined strategy is a bit like driving along the narrow, winding and frequently washed out red dirt roads in the Southern Alabama of my youth. Back then, there simply wasn’t enough paved road (or blacktop as we called it) to always get from point A to B. If I wasn’t being held up by a logging truck or a farm tractor, I was navigating old wooden bridges over swift streams that seemed barely wide enough to accommodate foot traffic much less my old 1959 Chevy Apache pickup truck. And, of course, these roads were on no map known to man. Reaching my ultimate destination was seldom a smooth proposition.
A video program, from concept to measuring results, should not be a harrowing journey down an uncharted and unknown path. Instead, plan for success from the outset by engaging in a video strategy session to ensure smooth steering toward increased conversion, enhanced SEO and robust ROI.
Leading auto parts retailer, AutoZone, works with Invodo to create diverse product and how-to videos. Some of the more complex videos produced feature mechanical system trouble-shooting and repair how-tos or installations. Videos such as these require detailed planning and precise execution by Invodo’s production team.
Before video was ever scripted or a single line of player JavaScript was integrated into site code, the AutoZone team and Invodo’s Client Strategy team sat down and dug into every issue that could and would lead to the success or failure of their pilot video program. The comprehensive video strategy session covered all finite details of the video program including:
The result was a clear path of smooth, paved road that led the way to a successful pilot program. The pilot program also yielded measurable data and direct experience which fueled the plans for a full eCommerce video program. Without the Video Strategy Session, none of that would have been possible.
Let me be clear. A real video strategy session is not something you do during a 15 minute meet and greet by the registration booths of whatever trade conference you may be attending. It isn’t a sales pitch disguised in a shiny wrapper.
A real video strategy session and the resulting success plan requires the participation of the extended client and vendor teams during a lengthy and structured discussion. A real video strategy session is preceded by qualifying discovery and is followed by committed adherence to the plan. A real video strategy session is the blacktop that paves the road, the signs that warn of trouble and keep you safe, and the map that keeps you on the path to your ultimate, desired destination. Anything less and you’re likely to find yourself fishtailing along a pothole filled road (or bridge) to nowhere.
At the recent shop.org Summit in Boston, Invodo CEO Craig Wax took a few minutes to talk with Retail Touchpoints associate editor Amanda Batista about video. Check out the video interview below, or click here to visit TouchpointsTV.
The time has come for retailers to get serious about their holiday strategies. With barely two months left until the whirlwind of holiday season shopping, brands that hope for success have started planning and executing initiatives to boost their holiday revenue. This happens every year, but what’s going to be different about 2011?
Increased online spending
eMarketer recently released a report, “Online Holiday Shopping Preview: What Retailers Need to Know,” which forecasts holiday spending for the 2011 season. Expert analyst Jeffrey Garu states, “Price-conscious consumers will shift more of their gift spending from stores to the internet in order to take advantage of web features that make it easy to compare prices and find good deals.” Research shows that holiday spending is on track to level with or surpass last years’ numbers, and that ecommerce sites will play a significant role in holiday revenue. In the chart below*, you can see the significant YOY increase in ecommerce spending.
More multi-channel engagement leading up to purchases
More than ever before, multi-channel strategies are imperative for brands to achieve success. We’re seeing leaders such as Lowe’s and Nordstrom deploy mobile devices in their stores to aid sales teams in facilitating purchases. Other retail giants use mobile apps, QR codes, shopper loyalty programs and online video as a way to reach potential customers.
Mobile will dominate the way last-minute shoppers find product information. Google projects that 44 percent of all December searches will be mobile. Because of this, retailers should take advantage of localized search and make sure websites are optimized for mobile devices. Using video in place of text is one way to get impactful information in front of the customers’ eyes while alleviating the frustration of reading tiny text on a five inch screen. That’s what we call the video + mobile connection.
Innovative toy retailer, Toys R Us allows shoppers to buy online and pick up in store, eliminating shipping charges and possible delays. The program launched last holiday season, but this year customers can designate a friend or family member to pick up their purchases. This way, customers can avoid the hassle of scavenging the store for their child’s wish list. And I think they’re on to something. Forrester reports that 83 percent of consumers would prefer to shop online than in a crowded store during Thanksgiving weekend (Forrester, December 2010).The Toys R Us ecommerce site provides the holiday shopper with an array of tools, including multiple photos, reviews and product videos to help them make purchase decisions.
So whether your customers are shopping for Santa, Hanukkah, Kwanzaa, the Winter Solstice or just for plain fun, December is going to be a robust month for retailers in store and online. What new features have you added for a successful 2011 holiday season?
*Graph source: eMarketer, 2011
The Shop.org Annual Summit said goodbye to the over 4,000 attendees late last week. IR 500 retailers, major brands, industry experts, and solution providers all left Boston to head back home to share their learnings and experiences. From best practices to emerging technologies, the content was rich and the collaboration from the best and brightest in eCommerce was unmatched.
During Shop.org, you could feel the excitement in the air especially around mobile, video, and social strategies. What used to be emerging technologies have now become musts for online retailers. As the industry landscape continues to become more intricate and complex, strong foundations and mastery of best practices remain inherent to online retail success. We hope everyone who attended found immense value and left with the key tactics and inspiration to prepare them to conquer the holiday season and subsequent year.
If you didn’t make the Summit, you can access many of the presentations and blogs here in addition to the Invodo team’s top takeaways below.
Craig Wax, Invodo CEO
There was a change in retailers from, “We need to think about video” to “we need to develop a multi-channel video strategy.” Retailers are realizing the need for a consistent and rich experience across channels.
Andrew Martin, Invodo Market Developer
More and more companies are seeing the value of video as a strategic tool to achieve a range of business results. While many are still focused on product video (and product video remains extremely important), brands are identifying needs for video across all points of customer interaction, including post-purchase support, category video, and overall brand education.
Dave Jobe, Invodo Enterprise Sales Director
Retailers are aware of the need for video but despite their excitement, there is still a large focus on mastering the fundamentals of online retailing. This simply alludes to the complexities of online retailing and the constant challenges of this dynamic industry.
In addition to the excellent keynotes, great networking, and tactical sessions, we also had some fun! Invodo, along with partners Monetate and Baynote, hosted a Shop.org Kick Off event at Game On Monday evening. Attendees got to watch the Patriots beat the Dolphins, eat and drink to their hearts content, and also bat in the official Red Sox batting cages! Check out some picture below.
We look forward to seeing everyone in Denver at the 2012 Shop.org Annual Summit. Invodo will be at booth #735 so make sure to stop by and meet the team!
While working through your Monday morning email inbox, take a second to ponder, “What is Devin warning us about?”
The Invodo team recently asked themselves the same question. We brought the Austin team to Invodo’s state-of-the-art video production facility in the Dallas metroplex for a recent all-company team meeting. We were instructed to watch this video upon our arrival. So we did…and we asked, “What is Devin warning us about?”
Want to see what was in store for the Invodo team as we arrived at the Dallas production facility a few hours later? Sign up for our monthly eNewsletter and find out.
View content for Bus Prelude Clip.
At the shop.org summit a few days ago, Invodo CEO Craig Wax had a few minutes to sit down and discuss our new feature, Video Ratings and Comments, with Tim Parry from Multichannel Merchant. Here’s a quick video of what he had to say.
Autozone, L’Occitane, Office Depot and More Sign On; Platform adds Ratings and Comments to Capture Consumer Feedback
September 12, 2011
AUSTIN, Texas – Invodo®, the only full-service eCommerce video solution, has added a number of high-profile clients, becoming the de facto leader in online video for business. In addition, the company has introduced an InPlayer rating system feature to help gather feedback from consumers and gain insight on how to further optimize video for its clients.
Invodo recently signed a number of new clients including AutoAnything, Autozone, Coffee For Less, Hammacher Schlemmer, L’Occitane, Office Depot, Really Good Stuff, and The Sports Authority. These businesses join the ranks of current Invodo clients such as Altrec, Bizchair.com, Crocs, Golfsmith, The Land of Nod, Lenovo, Living Direct and Moosejaw Mountaineering.
Amid the growing client base, Invodo has also announced the company’s newest product feature, Video Ratings and Comments. The feature allows clients to discover first-hand how the Invodo solution helps consumers shop. The feature offers online shoppers the opportunity to rate and comment on the videos they watch. Resulting data will provide insight into which video components are most useful and why. Invodo will use these findings to bolster the company’s data-driven insight into best practices for business video.
“We signed with Invodo because they’re able to meet our needs for creating video content at scale,” said Sean Belnick, Founder and CEO of Bizchair.com. “Results from their analytics platform prove that their solution is driving bottom-line results for us. We’re looking forward to deploying their new Ratings and Comments feature to learn more about our customers’ needs and preferences.”
“Measuring the effectiveness of the videos we create is incredibly valuable for us and for our clients,” said Craig Wax, CEO, Invodo. “The data and consumer feedback collected from our new InPlayer rating system will enable us to improve videos to further enhance the consumer shopping experience online.”
Invodo is currently participating in the Annual Shop.org Summit in Boston, MA September 12-14, 2011. Attendees can meet with Invodo at booth #1036 or during the “Test Driving Video to Create a Road Map for Success” roundtable discussion with Craig Wax on Wednesday, September 14 from 12:30 – 1:45 pm ET.
About Invodo
Invodo helps businesses sell more through the power of video. A full-service eCommerce video solution, Invodo creates high-quality product video at scale and develops new technology to influence consumers where it matters most. Invodo videos increase sales conversion rates, reduce returns and drive site traffic for customers, including Internet 500 retailers and major brands. For more information, please visit www.invodo.com.
Contact
Jen Cadmus
jcadmus
invodo
com
512-934-835
Digital Retail’s most influential event, the Shop.org Annual Summit, is just around the corner. The best and the brightest in online retail are gearing up for three days of compelling content and priceless networking. The 2011 Shop.org agenda is jam-packed with keynotes, concurrent sessions, roundtables, and so much more making it daunting to plan your days. To make the most of your time in Boston, here are Invodo’s top Shop.org Annual Summit picks.
Monday, September 12
Daytime: The Online Retail Boot Camp is an ideal workshop if you are looking for a year’s worth of learning in one day. Attendees will get into tiptop eCommerce shape and explore numerous aspects of successful eCommerce businesses including social media, search analytics, email, and merchandising for conversion. Attend the Online Retail Boot Camp to optimize online basics and learn various eCommerce program specifics.
Evening: Kick-off Shop.org Annual Summit in style with the three most exciting and innovative solution providers in eCommerce: Invodo, Baynote and Monetate. Offering Monday Night Football, free food, beverages, and networking with the best in eCommerce, it is the hottest ticket in town. At 6:30pm, immediately following the Shop.org Opening Reception, referees will be waiting outside the Convention Center to whisk away party attendees to Game On! at Fenway Park where the best in eCommerce will watch the New England Patriots take on the Miami Dolphins. Did I forget to mention that party goers can also test their baseball skills in the Official Red Sox Team batting cage?
Score your VIP pass to the event here! melissainvodocom
Tuesday, September 13
Daytime: Tuesday is the day all Shop.org attendees are anticipating. Over 200 solution providers will be centralized in the EXPO Hall to showcase products, technologies and services created to enhance the online retail experience. The EXPO Hall also features the BIG !dea Sessions, roundtables, and networking throughout the day. Of course, Invodo booth #1036 will be the number one destination featuring eCommerce video examples, client success stories, and of course, free 5 hour energies. EXPO Hall doors open at 9:45a so get there on time to take advantage of all the EXPO Hall has to offer.
Tuesday also offers full conference attendees the opportunity to attend multiple keynotes. Author and futurist, Ray Kurzweil, kicks off the summit by discussing the impact of technological Innovation on consumer behavior and retail as we know it followed by Mick McCormick of Columbia Sportswear Company, who broaches the subject of industry stagnation and ways to gear up for growth. Lastly, President of Direct at Charming Shoppes, Bill Bass, shares the lessons he has learned in 15 years of cross-channel retailing. All great thought leaders and keynotes worth attending.
Evening: Free for all Full Conference registrants, Shop.org is hosting an evening reception and dinner at the famous Jillian’s Boston. Expect to have fun while you bowl, dance, and network with fellow Shop.org attendees. EXPO Hall only pass holders- Don’t feel left out! Dinner tickets can be purchased for an additional $125.
Wednesday, September 14
Daytime: Start you day off by getting all your digital retail questions answered during Forrester Research’s Sucharita Mulpuru and Rue La La’s Ben Fischman Q&A keynote. Next, make your final rounds in the EXPO hall which opens at 10:15a to discover new eCommerce solutions and pick up remaining swag. After your tote bags are full and stomachs begin to rumble, swing by the vendor-retail case study roundtables also located in the EXPO Hall. Roundtable 21 will surely accelerate your eCommerce strategies after you hear AutoZone’s Jamey Traywick, and Invodo’s CEO, Craig Wax, discuss “Test Driving Video to Create a Road Map for Success.” Finally, wrap up your day with some great sessions from the following four tracks: Advanced eCommerce Strategy and Planning, Global Retailing, Online Marketing Strategy, and Mobile Retailing.
Evening: For most, Wednesday evening will consist of in-flight entertainment and airplane snacks. For all others, Boston will be their playground. Try catching a foul ball at the tail end of the Red Sox vs. Blue Jays game, taking a stroll on the Freedom Trail, or stopping by the Samuel Adams Brewery to wind down after a long week.
Have a great Shop.org Annual Summit and make sure to stop by booth #1036 and say hello to the Invodo team!
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Three Key Insights from Video Ratings and Comments
This new feature allows Invodo clients to capture consumer feedback on their videos. In short, end users can tell us exactly what they think of video content. This feedback, combined with the quantitative insights from Video Conversion Tracking, lets us continually measure and improve the video experience for our clients.
Since we launched on a number of client sites, what have we learned? A few key insights:
1) Video Quality Matters. Is that obvious? Maybe. But the quality of video on retail sites varies widely. You don’t have to surf too far to find Flipcam-produced video with poor lighting and sound, or animated slideware scrolling through images while robotically reading marketing copy through a text-to-speech engine. One can understand why retailers would look for cost-effective options to cover key products with video. But consumers rate well-produced product-focused video much higher than any other category. On a five-star system, such video receives an average rating of 4.08 stars. Other types don’t perform nearly as well. Clearly it’s worth investing in video quality.
2) Consumers Will Tell You What They Need. To close a sale online, you must close your site visitor’s information gap. Those information gaps are easy to identify in a brick-and-mortar environment; simply ask salespeople what customers are asking about. Online, it’s a different story. The Ratings and Comments feature lets us learn what shoppers want to see (“Not enough info on the treadmill’s quality, build, accessories. Auto incline? Fold for storage? How heavy?”). These information gaps can be filled out in subsequent rounds of video production, or even in product page copy or overlays.
3) High Enthusiasm for Video Translates into Participation. For every ten video ratings, there is one comment. That’s a 10% participation rate. Sometimes it’s positive (“I love the close up shots of the handle bars. Definitely buying this bike!”). Other times it’s not positive, but calls out an information gap such as the earlier treadmill comment. In either case, you want to hear it.
We’ll continue collecting and analyzing this data. Two areas I plan to explore are cross-category comparisons and for how well it correlates with sales data from Video Conversion Tracking. If there’s a particular area you’re interested in seeing research on, let me know in the comments.