video commerce - selling online with video

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This presentation is from a panel delivered on September 25, 2008 at the StreamingMedia West conference. I moderated the panel on behalf of the Video Commerce Consortium along with Alison Jeske, Director of Product Management at drugstore.com, Jon Nordmark, Founder of Ebags, and Xavier Casanova, CEO of Liveclicker. The purpose of the panel was to explore video commerce case studies and hear some real 'in the trenches' stories of online retailers deploying online video in an e-commerce environment. There are some good ROI examples in here as well as examples of approach. StreamingMedia.com also has the presentation available for download. Many thanks to Dan Rayburn from StreamingMedia.com for making this conference a reality and inviting us to be a part of it.

TRANSCRIPT

  • 1. Justin Foster, Founder, Video Commerce Consortium Alison Jeske, Director Product Management, drugstore.com Jon Nordmark, Founder & CEO, Ebags.com Xavier Casanova, Founder & CEO, Liveclicker

2.

  • Will It Blend over ~100MM views and counting

3. 1994 first visitor eCom sales 1% of total retail 2000 2004 2008 1996 2002 2006 eCom sales 4.2% of retail $1M web sales first profit founded IPO bankrupt open to all Will It Blendvideo viewed 100M times Search Engine Marketing - CPC Overture first $100M revenue Email Marketing - CPM Digital Impact first email Affiliate marketing - CPA Commission Junction formed Banner advertising - CPMDoubleClick - first banner Video Commerce ShopNBC.tv launches Social MarketingFriendster founded 4.

  • Self-Produced Videos: build credibility, add value, humanize the experience

5.

  • Acquire content from customers
  • Build a trust relationship

6.

  • Q: What is preventing you from starting out with video commerce or expanding your current video commerce initiatives?

Source: Video Commerce Consortium Survey. July 7, 2008 7. 8.

  • Past: Launch of new Beauty.com site in November 2007 included video
      • Video library (self-produced and vendor videos)
      • Brand boutique videos (e.g. Jonathan)
      • Objectives:
          • Increase basket size
          • Increase time on site
          • Provide enhanced shopping experience for prestige beauty customers
      • What did we achieve?
          • Basket size and time on site difficult to directly correlate to video viewing (new features also launched w/ new site)
          • Positive feedback from customers

9. Pop up window displays video 10.

  • Present : New tools and expansion of video into drugstore.com
      • Partnered with Liveclicker to provide rich tools for driving that intersection of video and commerce
      • Launched Beauty.com w/ Liveclicker in July
      • Launched drugstore.com in September
      • Monitoring SEO benefits
      • Building out a video library
      • Securing content from vendors
      • Adding video into our product setup procedures
      • Measure, measure, measure analyze!

11.

  • What does video commerce look like to drugstore.com?
  • Buy just one click away
  • Product links in video
  • Sharing
  • Rating of videos
  • Comments
  • Access to related videos/whole library
  • SEO benefits
  • Push to YouTube, Twitter, Google Video

12. Over 30 videos on Beauty.com Still early to determine the basket (order value) impacts 13. Other exciting metrics newest video with a 94% continue to watch past 10 sec mark; 42.5% watch whole video 14. 15.

  • Future:
    • Broaden access to video throughout the site (product details pages; tutorials on new site features)
    • Develop in-house videos (videos for our brand)
    • Facility for customers to upload video
    • Continue to monitor and analyze results (orders!)

16. 17.

  • Jon Nordmark, Founder, eBags.com
  • >$100MM 2007 revenues
  • Growing 25%+ annually
  • Launched video in early 2008
    • Initial pilot on video site
    • Later rollout to brand and product pages on eBags.com

18.

  • QVC engagement
  • Experiments within photo studio
  • Put existing assets to use
  • Not sure how to institutionalize it with existing resources
  • Richer customer experience, SEO dominance

19.

  • Leverage supplier content (while thrilling them)
  • Access professional quality assets; very low cost

20. Group A No Video Group B With Video # Product pages served 25,000 25,000 Conversion rate (clicked play button) 6.63% 10.00% Conversion rate (watched entire video) 6.63% 15.84% Conversion rate increase(clicked play button) N/A 50.1% Conversion rate increase(watched entire video) N/A 138.9% 21.

  • Launched in 2008
  • Prominent SEO placement

Conversion rates increased.Plus, we quickly validated the SEO pilot.- Jon Nordmark, Founder, eBags.com 22.

  • Future:
    • Good site experience = better conversion rates
      • Continue producing video assets
      • More experimentation
        • Testing demonstration vs. promotional
        • Placement on site pages
        • Integration into marketing streams
    • Lean on suppliers for more video content
    • Introduce customer-generated video content

23. 24.

  • Largest and fastest-growing consortium of interactive marketers seeking to learn about and advance the use of video in e-commerce
  • www.video-commerce.org

25. Justin Foster, Founder, Video Commerce Consortium Alison Jeske, Director Product Marketing, drugstore.com Jon Nordmark, Founder & CEO, Ebags.com Xavier Casanova, Founder & CEO, Liveclicker