Last week I had the great fortune to moderate an all-star panel of video commerce pros at the StreamingMedia West conference in San Jose. StreamingMedia is a show that draws online video innovators, technologists, and a large contingency from the media and advertising industries. Dan Rayburn, industry guru, organizer of the show and EVP of StreamingMedia.com shared last night that the video commerce session was among the top 3 ranked sessions of the entire show. So first and foremost, congrats to the panelists: Jason Arend of PFI, Mike Sullivan of Hot Topic/Shockhound/Torrid, Gerry Johnson of HSN, and Rico …
Blog Posts by ' Justin Foster ':
November 24, 2009
November 13, 2009
If you’re an online retailer, I have a challenge for you.
When a consumer navigates to a specific product page, it’s fair to assume that he / she has moved pretty far down the purchase funnel, right? If that’s the case, then the role of the product video is to educate, describe the product, and show multiple features that cannot be displayed in a few product pictures. That’s according to a recently released Forrester report. And I agree.
In my opinion, videos that are straightforward, clearly describe features / benefits, and explain who the product is for will drive …
October 18, 2009
If there’s one thing I think we can all agree on, it’s that online retailers and product manufacturers want to sell more stuff. So it stands to reason that retailers and manufacturers would do all they can to put video on their sites, right? If only that was the case!
We all believe video increases sales conversion rates. Yet adoption lags. In a September post, Justin suggested the lag is due to a lack of leadership. While that may be the case, I think there are number of factors in play. The one that has been on my mind …
September 24, 2009
I just returned home last night from the Shop.org Annual Summit where I spoke about how e-commerce retailers could make more money with video “in a week.” One of the more powerful moments of the presentation was the opening. I asked the 500 or so in attendance the following three questions:
First, “Who believes online video is an effective way to sell products online or persuade shoppers to buy?”
Nearly everyone raised their hand.
Then, “Who is using online video in some fashion today to sell?”
About 3/4 of the audience kept their hands up.
Last, “Who is using online …
June 9, 2009
There’s been a lot of buzz recently in the blogosphere surrounding the use of interactive elements to drive up the performance of video, so it begs the question – how should video interactivity be applied to e-commerce video? The answer, I believe, is that interactive techniques should be applied to video when shoppers are both highly motivated to engage in a behavior we as marketers are trying to drive (usually, but not always, this is a purchase), and when those same shoppers simultaneously have a high ability to complete the behavior.
If the idea sounds just a bit academic, that’s …
May 11, 2009
Although VacationsCanada.tv isn’t a typical ‘durable goods’ retail site because it exists in the travel vertical, the model Rob and the team at Brewster Inc. have developed around video commerce is not only innovative; it could apply to a wide spectrum of e-commerce business models. For example, they’ve figured out the following:
- How to maintain a single brand voice across their suppliers and product videos
- How to help fund their video production efforts by working with partners
April 13, 2009
Last Friday, I had the chance to sit down and interview McKay Thomas, Marketing Manager at BilliardEx.com. McKay led the charge to add video on BilliardEx.com’s site and oversees website strategy and execution. In our interview, he shared some of his secrets with the rest of us. Listen in as we discuss:
- Video as a customer experience enhancing tool
- Understanding the motivation behind adding video
- Produced product testimonials from real customers
- Metrics revealing video’s effectiveness
- Tips every online retailer should consider when expanding the use of video on-site
April 7, 2009
I’m pleased to announce that Wes Pomeroy has joined the VCC blogging team as our newest guest blogger! Wes is joining us to blog about the ROI of e-commerce video. He’s also the creator of the new product video ROI calculator featured in the last VCC blog post.
Wes is currently the Director of E-Commerce for RIVR Media Interactive, the online division of Emmy Award-Winning television producer, RIVR Media. His primary focus at RIVR is the growth of their new E-Commerce Product Video business including client and business development, and video production and strategy services. Wes’ professional experience stretches …
April 1, 2009
Using this calculator, users plug in variables that impact on-site video merchandising ROI on a product-by-product level, such as conversion rate, pageviews for the product, gross margin for the product, and expected lift (%) for adding video to the product detail page. The calculator then will give you important data including:
- Video revenue lift
- New profit
- Months to breakeven for the product based on cost
- Number of units you’ll need …
March 17, 2009
Last week, Larry Joseloff from Shop.org sent me an article he found on Mashable.com, “5 People Who Broke the Rules of Social Media and Succeeded.” The article highlights the work of one video commerce pioneer, Pinny Gniwisch from Ice.com, for his idea to post a contest video on YouTube as a way to drive email signups and sales. Not only was Pinny able to gather 6,000 new email signups, but as a result of adding these new prospective customers to Ice.com’s email database, he generated $20,000 in new sales over the holiday season.
I like this case because it shows …
About the VCC
Members of the video commerce consortium are e-commerce leaders, brand marketers, and innovators in their industries. The logos below represent only a small sampling of the organizations with delegates currently participating.