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 2011 Internet Retailer Conference & Exhibition is now wrapped and boy was it huge! This year’s IRCE was the largest ever. With more speakers, exhibitors, and attendees, the energy and information circulating throughout the show was abundant. I had the opportunity to speak with retailers of all sizes to learn their needs, wants, top priorities, and key session learnings. Here are three top takeaways from this year’s IRCE.
1. Social Media is here to stay. As I have blogged before, social media is a top priority for online retailers. With 700 million users, Facebook commerce is on everyone’s mind and dominated the conversation on the first day of IRCE. Retailers such as Levis and Ticketmaster shared their Facebook success stories and best practices on how grow and leverage fans. While there is still some ambiguity around social media, IRCE sessions provided great information that retailers can surely use in their quest to figure out Facebook.
2. Retailers are increasingly thinking Cross-Channel. Creating a consistent online and offline experience is increasingly more important for multi-channel retailers. Bob Cell of MyBuys and Glenn Edelman of The Wine Enthusiast shared survey results from 1,000 consumers’ cross-channel experiences and 20 retailers’ practices to meet customer expectations. At a more detailed level, Nikki Baird of RSR Research covered strategies that retailers can use to ensure that store staff understands and supports web initiatives. From streamlining internal initiatives to meeting high customer expectations, the need for cross-channel consistency is top priority.
3. Video. Video. Video. Increasing customer engagement and site stickiness is a key to online retail success. To beat out the competition, retail sites need a differentiating factor that gives shoppers what they want: a unique, informational, and engaging experience. And nothing does that better than Video. Trailblazing e-retailers such as Walgreens, who has 1,500 videos on their eCommerce site and initiatives to create content for web TV, shared their thoughts on this new age of retailing at IRCE. I predict that the Internet top 100 retailers will all have video on their site by 2012. If they don’t, I predict they won’t be in the IR 100 for too long. Video is the new media for communicating your message. Be it product video, customer service video, or promotional video, retailers are recognizing the need and taking quick action.
The sheer plethora of activities, sessions, and events at this year’s IRCE often makes it hard to decide how to allocate your time. From which vendors to visit in the EXPO Hall, to what networking events to attend, to what to see and do in San Diego, the list is long and the choices daunting. In order to get the most out of this year’s Internet Retailer Conference and Exhibition, here are 5 Must-Dos to put on the top of your list. 
1. Take a walk through the Gaslamp Quarter
Full of quaint shops, art galleries, and beautiful Victorian architecture, the Gaslamp Quarter is worth checking out. Located in downtown San Diego and steps away from the Convention Center, strolling through the idyllic 16½-block historic area is a must.
2. Stop by booth #220!
Here you can meet the Invodo team and chat about your video strategy. Video is now an expected element for any online retail site. Stop by to see how the Invodo Video Solution delivers the video content you need, the platform to distribute, optimize, and measure results, and the network to reach your customers at every touchpoint.
Did I also mention you can enter to win Austin City Limits Music Festival tickets (airfare and downtown lodging included), play a round of golfketball, and watch some awesome video demos!
3. Hang out with Giant Pandas at the San Diego Zoo.
The San Diego Zoo is home to an array of animals including the very famous and amazing Giant Panda. Take some time to meander through the 100-acre zoo to admire the animal kingdom and reconnect with your inner-child. If you aren’t into walking, the San Diego Zoo offers a guided bus tour of the grounds, and the Skyfari aerial tram gives guests a bird’s-eye view of the 100-acre facility.
4. Attend the session “Are retailers giving cross-channel customer what they want?”
As the wall between online and offline retail continues to crumble, discover ways that you can create a streamlined experienced and ensure you give customers what they want. Bob Cell, CEO of MyBuys and Glenn Edleman, VP of Marketing of Wine Enthusiast, will host this session on Wednesday, June 15 from 1:45-2:30pm, Track B, and share their best practices so don’t miss out.
5. Enjoy the Ocean View while sipping a drink at Bertrand at Mister A’s
The award winning Bertrand at Mister A’s offers a fresh and tantalizing menu enhanced only by the stunning panoramic views outside of the dining room. I have heard from a San Diego insider that Mister A’s has the best views in town accompanied by a great happy hour. Treat yourself and enjoy the beautiful ocean and unwind after a long day at IRCE.
What’s cooler than sliced bread? Social networks. Facebook alone has more than 500 million members and its counterparts including YouTube and Twitter are also growing like weeds. With such a large audience ready to be marketed to, I must ask the million dollar question – How you are you leveraging social networks for your business?
Let’s take a step back and look at the nature of social networks. Most people join them so they can get something of value in return. This widget of value varies from person to person. Someone might join Facebook so they can see pictures of their friend’s new baby- others might join to get daily deals from their favorite retailer. The main reason aside, once people are in, they are open marketing game for you.
For businesses, step one is to identify items of value that appeal to your target market. Sure, everyone wants free stuff and that might be something you leverage. But free stuff is boring! And expected. (Disclaimer: This is untrue if you are trying to give me free shoes. Size 7.5) Use the forgiving and well, fun nature of social networks to test new forms of content. That said, not all content is created equal. In order to succeed, you need to provide content worth sharing. And let me tell you, users will share video. With over 27 million pieces of online content shared daily, try promoting your video assets and track sharing. The results could surprise you.
Now you have conquered step one. You have captivated your market and have a huge following on every social network. People can’t stop talking about you and it is great! But wait, you’re giving all these people value, but what are you getting in return? Life’s a two way street so you better know what your social media efforts are doing for you; especially if you’re giving away free stuff. I’m not going to go into different ways to assign a dollar value to a “like” on Facebook, an @mention on Twitter, or a video view on YouTube. My point is, have a solid business objective for your social media strategy that gives you value, direct your efforts towards that objective, and find ways to measure your success.
Lastly, look at your competitors. Be where they are but do it better. Don’t be the guy looking at the wheel going “Oh, this is cool. Wish I would have thought of that!” Be the guy who says “Oh, we could put a few of these together, put something on top, and transport things!” Bad example, yes, but the point is there. What assets do you have that you can use to innovate and outshine your competitors? From a hilarious co-worker who will tweet for you all day to awesome video content to post on Facebook and YouTube, you have something – just find it and leverage it.
Social networks aren’t going away anytime soon. So get in the game today to reap the benefits tomorrow.
Invodo’s Craig Wax was featured in two publications recently with some useful information for anyone considering video for online retail.
In Chief Marketer, Craig’s article The Essential eCommerce Video Cheat Sheet covers the terms and concepts you as a retailer should be familiar with in considering a video program 
designed to enhance experience and drive conversion. It’s a complete glossary from Above the Fold to View-Through Rate – everything you need to know to come across as an expert in discussing eCommerce video.
There’s more useful information in a Practical eCommerce interview with Craig (also available as a podcast). In conversation with Practical eCommerce’s Kerry Murdock, Craig covers details that make a video drive conversion effectively – the right tone, presenter, length, scripting and other details that make a big difference in conversion effectiveness.
We’re pleased to be part of the conversation that defines eCommerce video as this rapidly-expanding space heats up. To stay on top of it, keep up with us on the blog, on our always-updated video statistics page, and in the latest news section of our site.
Writing a script is easy, but writing scripts that turn browsers into buyers is much more difficult. Often time scripts seem great when read but once spoken by a presenter, don’t come across as expected. In order to write a converting script, you have to consider much more than just the words. Below are three tips to follow to help you create eCommerce video scripts that sell.
Click to watch the Golfsmith R9 Driver
1. Use proven sales techniques
eCommerce video allows you to put your best salesperson directly on your product pages. When writing scripts, consider how a salesperson would sell that product if they were face to face with a customer. Incorporate those effective sales techniques into your scripts.
2. Write scripts that are conversational and personable
Shoppers need to trust the video presenter. In order to build trust, write scripts that both educate and engage the shopper. Contextualize product benefits and write in a conversational tone that consumers can relate to and trust in order to make a confident purchase decision.
3. Leave the marketing “spin” out
eCommerce video lets you speak directly to consumers at their point of purchase. Use that opportunity to highlight a product’s features and benefits and don’t present them with the same marketing “spin” they have seen in every commercial and advertisement. Write a script that gives shoppers additional value and they will be more likely to convert.
According to SocialTwist’s recent analysis of sharing behavior, content shared on social networks is much more likely to generate click-throughs than content shared through blogs or IM. In fact, social networks account for 60% of the click-throughs from SocialTwist’s Tell-a-Friend widget, followed by email with 31% of click-throughs. Sharing isn’t just caring. Since eCommerce video drives conversion for online retailers, sharing is good business.
The click-through rate (CTR) on socially shared content tells an even more compelling story. Content shared through Twitter has a staggering 1905% CTR. That’s not a typo – a link shared on Twitter gets an average of 19.05 clicks. Facebook does well also, with a 287% CTR. If your perspective is that relatively few users will choose to share your content, you’re missing the point. Those are high-leverage users and you should do everything you can to make it easy for them to share your content. Social sharing is a force multiplier because when links are shared by friends and family we treat them very differently than links sent to us by marketers. For every five times a link is shared on Twitter, nearly 100 people view it.
That’s why we advocate enabling sharing eCommerce video as a best practice. Sharing can drive business benefit if it’s done in a way that doesn’t risk interfering with the purchase process. That’s important for eCommerce video, where driving conversion – not distracting viewers with bells and whistles – is key. Clients such as Moosejaw Mountaineering and Paul Fredrick have found that our approach meets those criteria, and we’re excited to see them using it.
Do you share video content? If you use eCommerce video, do you have sharing enabled? If not, why not? Let me know in the comments.
Retailers have just experienced a record Cyber Monday with over one billion dollars in sales. The Wall Street Journal reports a 20% year-over-year increase and the rest of the holiday season looks bright for online retailers. This good news bears out the consumer behavior theories that underlie the Cyber Monday concept. Shoppers take advantage of fast office connections and privacy from family to get some real shopping done while, for a few minutes at least, avoiding plugging back into the workweek.
But has the advent of video and rich media as part of the shopping experience changed consumer behavior on Cyber Monday? If so, how? We reviewed eCommerce video statistics on Invodo clients and found some surprising trends that may help retailers better plan for use of video – both in the holiday season and year-round.
Cyber Monday video views showed a 350% increase over the October-November baseline. Rapid growth in video makes year-over-year comparisons difficult, but it’s clear that Cyber Monday shoppers who encountered video on retail sites chose to view it. The actionable recommendation is clear: merchants should prepare for a huge spike in video views, exactly as they prepare the rest of their infrastructure for a profitable onslaught of shoppers. Ensure that your video platform and CDN are up to the challenge.
Video View Through Rate was up to 40% higher on the weekend than during the week. View Through Rate (VTR) is similar to click-through rate – it is simply the percentage of viewers who choose to view a retail video. Consumers buy on Cyber Monday, but they are much more likely to watch a product video on the weekend before.
This phenomenon extends beyond Cyber Monday – our data consistently shows higher VTR over the weekend than during the week. That makes it valuable information for retailers. A reasonable hypothesis here is that consumers shop over the weekend, doing their research by deciding what to buy and where to buy it. On Cyber Monday they complete those transactions. Smart retailers can take advantage of this by putting video in front of consumers over the weekend, whether on home page promotions or in email campaigns.
The Cyber Monday numbers point to the continued growth of eCommerce and the prospect of a very bright holiday season indeed. By understanding the consumer behavior implications of video and rich media (during every week, not just Cyber Monday), retailers can make the most of that opportunity.
The primary objective of eCommerce video is simple- sell more online through the power of video. While there are many factors involved in achieving that objective, one of the most important is effective product page video implementation. Follow the 3 best practices below when integrating video on your product pages to drive maximum video results.
In web design, “above the fold” refers to the portions of a webpage that are visible without scrolling. Of course, the exact location of the “fold” differs based on browser and monitor resolution. Identify the portion of your product pages that lie above the fold and target that location for your video implementation.
Placing your videos above the fold, increases video awareness and more importantly, video view through rate (VTR). Video above the fold realizes an average VTR of 25.7% – almost twice the 15.1% for players below the fold. With a higher VTR, you increase the opportunity to convert viewers into in buyers.
PurePearls.com does a great job of “above the fold placement” in the hero position for maximum video impact.
Make your videos visible and easy to watch. Use video merchandising icons and video call-to-actions (CTAs) to draw attention to your video content and drive views.
For even greater visibility, add a text call-to-action, ex. “Click to Play” or “Click to View”, next to your video icon. The addition of text to an icon on your product pages increases your view through rate to 23.9% versus the 21.4% without.
Red Envelope, online gift retailer and Invodo client, does a great job of employing an eye-catching video merchandising icon. They chose to use an animated gif play button accompanied with a text CTA, “Watch Video.” Not only does this catch customers’ attention, but also provides a direct call to action to watch video.
Provide your customers with a consistent and brand rich shopping experience. 
Choose a video platform that allows for customization so you can implement your video to match your existing site design.
A great example is SwimwearBoutique.com. They chose to use a custom aspect ratio for their videos and implement a vertical embedded player, above the fold, in order to provide their customers with the best video experience possible. In addition, the transition from their product photos to their videos is seamless. They truly provide a shop by video experience.
Be creative and have fun with your video implementation but always remember the objective: sell more online through the power of video.
Once retailers create eCommerce product videos, the first step is to put the videos on the appropriate product pages so consumers can watch. Unfortunately, most retailers stop there.
Forward-thinking retailers find many more uses for their videos. They incorporate the product videos across their site (product pages, category pages, video galleries). They leverage video in marketing campaigns (email, blogs, newsletters) and push it through all channels (Web, mobile, in-store). Why? To increase the number of video views and maximize the return on the investment for creating the video.
Toys “R” Us (an Invodo client) is doing exactly that with its just launched iPad app for the holidays. The app has several cool features. One of my favorites is the ability for kids to create a wish list for their parents to see. But I’m not writing because of the wish list. I’m writing because Toys “R” Us has integrated its product videos into the app. Smart!
Toys “R” Us knows that people are more likely to buy when they watch product videos. So it makes sense to put the videos where consumers want to see them. And Invodo’s service allows for unlimited product video views. A perfect combination.
As more retailers create product videos, they should take a page out of the Toys “R” Us playbook and incorporate video into their mobile strategy. It’s just smart business.
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