This document outlines six steps for video commerce success on retail websites: 1) Produce engaging, informative, or selling videos; 2) Scale up video production without high costs; 3) Create converting content through techniques like the Fogg Behavior Model; 4) Optimize video presentation placement and calls-to-action; 5) Leverage video distribution on sites like YouTube and through email; 6) Continually measure and learn from video analytics. Case studies show videos can increase conversion rates by 6-138% for retailers implementing these strategies.
3. “ 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
4. “ 33% of retailers plan to add video or streaming media to their sites in 2010.” -Internet Retailer/Vovici Group Survey January 29, 2010
5. “ 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
9. Agenda “ We plan to produce 50,000 product videos in 2010. Videos are driving up conversion rates between 6% and 30%.” - Rico Nasol, Zappos
10. 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
11. Agenda “ Onlineshoes.com drives 45% higher conversion rates (average) for products featuring video” - Jimmy Healey, Onlineshoes.com
12. Agenda “ We’ve observed 200% higher click through rates for emails featuring video.” - Mari Strom, Holland America
13. 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
29. 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