six steps to video commerce success
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On July 8, 2010, Liveclicker Co-Founder Justin Foster delivered a presentation for Australia's Online Retailer Expo and Conference detailing "Six Steps to Video Commerce Success." The presentation covers practical tips and tricks to: - Choose which type of video to produce or source - Making e-commerce video scale using one of several methods - Creating video content that converts - Optimizing the presentation of e-commerce video - Using smart distribution to multiply the impact of video online - How to measure e-commerce video for successTRANSCRIPT
Six Steps to Video Commerce Success
Email:[email protected]
Follow:@videocommerce
Justin FosterCo-Founder/VP Market Development Liveclicker
Video Commerce Consortium
+ 500 retailers+ Nonprofit grouphttp://www.video-commerce.org
“US online video views more than doubled from 14.8
billion/mo in Jan 2009 to 33.2 billion/mo in Dec 2009.”
-Comscore Research, February 2010
“33% of retailers plan to add video or streaming media to
their sites in 2010.” -Internet Retailer/Vovici Group Survey
January 29, 2010
“68% of the Top 50 Internet retailers use video on their web sites, compared with
18% in 2008.” -Patti Freeman-Evans, VP, Research Director, Forrester Research
May 4, 2009
Source: Online Retailers’ Adoption Of Online Video Content Is Ahead Of Consumers’ Preferences, November 24, 2009
Build Trust
Stir the Imagination
Persuade
Agenda“We plan to produce 50,000 product videos in 2010. Videos are driving up conversion rates between 6% and 30%.”- Rico Nasol, Zappos
Agenda “We see a 50% - 138% conversion rate increase on product pages featuring video compared to product pages with no video measured in controlled A/B splits”- Peter Cobb, eBags
Agenda
“Onlineshoes.com drives 45% higher conversion rates (average) for products featuring video”- Jimmy Healey, Onlineshoes.com
Agenda
“We’ve observed 200% higher click through rates for emails featuring video.”- Mari Strom, Holland America
Agenda“We grew our online video program twenty-three fold in 2009 and will continue making strategic investments in this area.”- Amy Norton, Costco Wholesale
Step 1:Produce the right
kind of video.
• Interest?• Engage?
• Sell?
Step 2:Scale up.
Scaling Product Video: Best PracticesZero Cost Video Production
Scaling Product Video: Best PracticesZero Cost Video Production
Scaling Product VideoLow Cost Video Production
Scaling Product VideoLow Cost Video Production
Scaling Product VideoLow Cost Video Production
Scaling Product Video: Best Practices
Step 3: Create content that
converts.
For more information on the Fogg Behavior Model, visit http://www.behaviormodel.org. For more information on BJ Fogg, visit http://www.bjfogg.com.
Fogg Behavior Model
Selling 101:Talk Features and
Benefits
Shorter is better (generally)
Self-produced videos convert best
(generally)
Make it interactive!
Make it interactive!
Make it interactive!
Step 4:Optimize the presentation.
Creating Successful Product Videos
• 13MM product detail page views• 25 retail sites• Analyzing video presentation for the following
attributes:– Player, icon, or link?– Text callouts?– Play button?
Video Presentation Study
Creating Successful Product Videos
• Embedded players generated the highest clickthrough: 25% - 45%
• Play buttons with text “Watch Video” or “Watch Demo” outperformed images that clicked-to-play without any call-to-action
• Small text links / icons below product hero shot in the 0.5% - 4% CTR range.
Video Presentation Study
Creating Successful Product Videos
Creating Successful Product Videos
Creating Successful Product Videos
Creating Successful Product Videos
Creating Successful Product Videos
Step 5:Use video distribution
to multiply positive effects.
Video Sharing Sites(use caution!)
Video Retargeting
Video Email
Affiliates
Step 6:Measure and Learn.
• Incremental CTR (clickthrough rate)• Incremental CVR (conversion rate)
• Engagement v. retail benchmark
• Distribution analysis
Are people even watching?
Six Steps to Video Commerce Success
Step 1:Produce the right
kind of video.
Step 2:Scale up.
Step 3: Create content that
converts.
Step 4:Optimize the presentation.
Step 5:Use distribution to multiply positive
effects.
Step 6:Measure and Learn.
