With the holidays fast approaching, consumers will shop online like never before. What will they be looking for? Shop.org and BIG Insight surveyed shoppers, asking, “When choosing to make holiday purchases from a given online retailer, what is most important to you?”
Clear product information was one of the top five answers. And, as Shop.org’s Fiona Swerdlow points out, shoppers want videos that clearly describe the products on their wish lists.
Invodo’s mission is to improve the online shopping experience for shoppers everywhere. Clients like Autozone, Bizchair.com, Golfsmith, Lenovo, L’Occitane, Office Depot, Really Good Stuff, The Sports Authority, and more are catching the video wave. This research from Shop.org and BIG Insight shows that our mission is well aligned with what consumers want. Read Fiona’s take on the survey results here.
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.
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.
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Guest Post By: Holly Krenek, Marketing Manager & Hillary Prey, Marketing Communications at Digby
Mobennials, or The Mobile Generation, are the most connected and affluent consumers today. Ranging between the ages of 13-44, Mobennials are hyper local, individualistic, self aware, and driving the mobile smartphone revolution. They come from Gen X, Gen Y and an even younger population ranging down to preteens. They are defined as always connected and always tuned-in whether it is to news, their social networks or favorite retail brands. They want tailored, interactive offers that empower them to make educated purchase decisions on their own and influence others to do the same. And they are never without their lifeline—their smartphone.
Even though these power consumers are always connected, they are not always listening. Retailers and branded manufacturers need to tailor their messaging across all multi-channel touch points in order to influence, create unique and valuable experiences and maintain the brand-consumer relationship successfully with these digital gurus. Mobennials’ savvy adoption of mobile and social technology has spiked the interest of all retailers and branded manufacturers, who have first handedly witnessed their utilization of mobile via purchases from rich applications, mobile websites and in-store mobile engagements. But how do you, as one of many retailers, successfully get your message in front of this mobile generation without having it lost in the noise?
Start by getting to know the audience. Almost half of smartphone owners (48.7%) are between the ages of 25 and 44, with the majority of those in the 25-34-age range. Find out what devices they are using and develop a mobile marketing, commerce and in-store strategy that provides relevant, timely and valuable offers and experiences that can be delivered in an optimized way through your mobile commerce site or rich App for the iPhone, Android or BlackBerry smartphone.
Also, think about how you can engage with Mobennials by leveraging mobile and social as the two are inherently intertwined. The median age of social networkers on mobile is 30 years old. Conversely, 13-24 year olds represent almost a fourth of all smartphone users (23.8%). While this percentage may not be as overwhelming, it does represent the future. 23% of teens (ages 12-17) already use their phones for social networking and 11% use it to make purchases. Get in with these young Mobennials early, gain their trust, and make them loyal followers—they will be your audience for years to come and they already have their demands.
Speak their language. If retailers want to remain relevant to this uber-connected group, they need to identify with the ways in which Mobennials consume information.
A great way to engage with loyal Mobennials is with insightful and visually educational videos. Retailers who offer videos via mobile or social outlets enhance the consumer connection to the brand. Videos must focus on store products, and provide exclusive information to the consumer with edgy and unique visual messaging to capture their loyal advocates attention. When executed correctly, the mobile and video correlation can lead to successful purchases both in-store and online for retailers, and gain value through strong communication to their Mobennial customers. Ulta is a great example if a retail brand that utilizes mobile and video to their advantage. See the example below of one of their amazing videos.
View content for Fusion Lip Plump.
Most recently, Nordstrom has enabled mobile checkout in their retail locations. According to the luxury retailer, approximately 5,000 mobile checkout devices will be incorporated in to their retail stores, escalating the power of mobile and technology for the company. Nordstrom sales associates can look up previous purchases of customers via an iPod Touch, and spend quality time with consumers on the sales floor with the implementation of the mobile checkout. Having one-on-one time with consumers is valuable to the retailer, and creates quality engagements between the company and its loyal customers. The company is also using the mobile checkout app to spread the word about special events and other promotions directly to shoppers based on their location.
In addition, the Nordstrom mobile-optimized website allows users to purchase items from their smartphones so their loyal customers can have access to products whether they are at home, on the go or in the retail store.
Wet Seal’s mobile and social presence has grown exponentially since 2008. Not only do they have a great and elegant mobile optimized website for their broad customer base, their iPhone application, iRunway, which launched in 2009, allows loyal customers to access collections of user-created outfits in the Wet Seal Fashion Community, view items and see outfits that go with that style, scan a barcode or enter the style number to view the outfits with that item, view most popular outfits, share outfits socially or via email to friends and family, and view store locations and information such as ratings and reviews.
Staying in frequent contact with Mobennials across every touch point is crucial to building and maintaining a strong mobile and social relationship with them. They have the largest word of mouth base and act as both influencers and the influenced. It may take some trial and error, but it is worth the effort to figure out how to successfully engage this affluent in-crowd.
Imagine this….an intimate workshop overlooking Coronado Bay, 300 retailers, and 22 vendors sharing online merchandising best practices and discussing the future of eCommerce. While this might seem like a dream to some, it is the reality for those attending the upcoming Shop.org Merchandising Workshop.
Situated in the beautiful San Diego, the Merchandising Workshop is bringing together the top eCommerce merchandisers and retailers to share and discuss online merchandising tactics.
For those attending, here are the top three must-dos to make the most of your Shop.org Merchandising Workshop.
1. Get a one-on-one website critique. Industry experts are hosting 20 minute website critiques specific to aspects of your website. Take advantage and come prepared with questions and ideas you may have and leave with tactical and practical solutions.
2. Attend a vendor-retailer case study roundtable. Shop.org Merchandising Workshop is hosting roundtable discussions on Tuesday, July 12th from 12-1 in the EXPO Hall. This is a great opportunity to have detailed conversations with peers to discuss their merchandising successes. The highlight is Roundtable 1 featuring Invodo’s Craig Wax and Golfsmith.com’s Eric Mahlstadt who will discuss Video for Retail: A Multi-Channel Approach.
3. Stop by table 5 and say hi to the Invodo crew. This is obviously a must-do but Invodo’s best and brightest will be at Table 5 and throughout the Expo Hall ready to show you eCommerce video examples and best practices in online video merchandising.
If you accomplish these must-dos, you are sure to leave with new ideas, best practices, and tactics to elevate your online merchandising. Safe travels to all and have an excellent workshop!
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.
Demandware’s Commerce Innovations Blog features a post from Russ Somers, Invodo’s Director of Marketing, this morning on five ways that video helps retailers reach their goals.
Certainly, increased conversion comes out as a front-runner for importance. But, what about all the other ways video helps give shoppers that extra incentive to follow through with their purchases or recommend your brand? According to eMarketer, 73% of online retailers used video on their sites in 2010. That’s up 32% from 2009. As consumers demand video content, retailers are working to supply it to drive business benefits ranging from enhanced customer experience and engagement to increased conversion.
This article discusses the benefits Invodo has seen for our clients using video for products from swimsuits to air conditioners. We’ve uncovered consistent key advantages of eCommerce video that span product categories and video types. What real-world benefits are retailers reporting? Read the full article in Demandware’s Commerce Innovations Blog to learn more.
The Internet Retailer Conference & Exhibition 2011 is just a week away. Soon, San Diego will be infiltrated with the industries top retailers, influencers, analysts, and solution providers.
So what can attendees expect to learn at the World’s Largest eCommerce Event?
IRCE 2011 will undoubtedly be full of valuable keynotes and presentations, but the exhibit hall is where all the action is. Stop by Invodo booth #220 to discuss your video strategy and ways eCommerce video can extend your reach across retail channels, influence consumer purchase decisions, drive traffic to your site, reduce customer service costs, and increase sales.
But booth #220 activities don’t stop there. Some additional bonuses if you drop by booth #220 include:
If you have any questions or would like to schedule a specific time to discuss video at IRCE, email Invodo infoinvodocom
or call 800-280-4122. See you at IRCE 2011!
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.
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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.