Video Commerce And The Customer Lifecycle

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    Video Commerce And The Customer Lifecycle - Presentation Transcript

    1. Justin Foster Founder, Video Commerce Consortium Co-Founder, Liveclicker [email_address] 253.988.3183
    2. “… while some older viewers had experimented with watching long-form video online, "three quarters of those over 65 who watch video online responded that they have never watched TV shows or movies online.” Sept 26, 2008 – ABI Research - Pew Research Study, August 17, 2008
      • 38% of those 55+ streamed a digital video off the Internet during the last 30 days
        • - June 2008, Ipsos
      • 13% of active online video watchers are from the 55+ demographic
        • - October 2008, Forrester Research
      • 21% of 55+ are “light” users, 13% are “medium” users and 15% are “heavy” users
        • - September 2008, comScore Networks
    3.  
    4. The Customer Lifecycle is a coordinated tactical effort to move the prospect or customer along in the lifecycle continuum… either from stage to stage or further within one stage. Best Customer Lifecycle Typical Customer Lifecycle Acquire > Convert > Grow > Service > Win Back
    5. Suspect Prospect Customer Active Customer Best Customer Recaptured Customer Best Customer Lifecycle Typical Customer Lifecycle Acquire > Convert > Grow > Service > Win Back Promotional: Celebrity Endorsement Commertainment: Featured Product Education: Feature & Benefit Education: How-To / Product Demo Service: Product Demo Service: Troubleshooting & Repair Promotional: Bandwagon Promotional: Testimonial Promotional: Product Demo Commertainment: Featured Product Education: Customer Testimonial Service: Interest-Based Education Promotional: Humor / Viral Promotional: Features & Benefits Promotional: Brand-Oriented Promotional: Celebrity Endorsement Promotional: Bandwagon Promotional: Testimonial Promotional: Product Demo Promotional: Humor / Viral Promotional: Features & Benefits Promotional: Special Offer Promotional: Brand-Oriented Promotional: Special Offer
    6. Suspect Prospect Customer Active Customer Best Customer Recaptured Customer Best Customer Lifecycle Typical Customer Lifecycle Acquire > Convert > Grow > Service > Win Back Affiliate Sites (CJ, LinkShare etc) Home Page Email Campaign Landing Page Micro TV On-Site Product Page Brand Page Support Page Product Page Email from Call Center Targeted Online Display Email Campaign Landing Pages Product Page Video Site (yoursite.tv) YouTube & Video Services (iTunes, Vimeo, etc) Video SEO (Google, Live, etc) Targeted Online Display (adbrite, Doubleclick, etc) Video Site Syndication Search Results Page Category Page Social Networks (Facebook, Twitter, etc) Home Page Micro TV On-Site Site Blog Paid Placement in 3 rd Party Media Micro TV On-Site Shopping Cart
    7. Suspect Prospect Customer Active Customer Best Customer Recaptured Customer Best Customer Lifecycle Typical Customer Lifecycle Acquire > Convert > Grow > Service > Win Back First-Time Orders Increase in Customer LTV Increased Site Conversion Rates First-Time Insertion Orders Lowered Servicing Costs Increase in Order Frequency & Customer LTV Repeat Insertion Orders Higher Pricing for Ad Inventory
      • Offer Consumer Generated Video Options
      • Comments & Ratings Provide Credibility
      • Sharing via Social Networks, Blogs & Email
      • Category Videos Differentiate the Offering
      • Focus on Process Automation
      • Don’t Get Hung Up in Production
      • Consider Service Videos
      • Placement as a Secondary Element On-site
      • Auto-Play Off
      • Focus on Tipping the Sale
      • Syndication Off-Site is Key
      • Short-Form Promotional Content Wins
      • Direct Response Elements are Crucial
      • Make use of Video SEO Techniques
    8. Group A – No Video Group B – With Video # Product pages served 25,000 25,000 Conversion rate (did not view video) 6.63% 10.00% Conversion rate (viewed video) 6.63% 15.84% Conversion rate increase (did not view video) N/A 50.1% Conversion rate increase (viewed video) N/A 138.9%
      • Launched in 2008
      • Prominent SEO placement
      • Liquidated inventory of key product
      • Boosted conversion rates
      “ Conversion rates increased. Plus, we quickly validated the SEO pilot.” - Jon Nordmark, Founder & CEO, eBags.com
      • Launched in 2007
      • 55% of products on-site have videos
      • Credited with coining the term “Video Commerce”
    9.  
      • Collect information from stakeholders in a formal discovery process to assess “organizational readiness.”
        • Video Strategy
          • Basic SWOT Analysis
          • Program Goals & Areas of Focus
          • Resource Review
        • Program Tactics and Automation
          • Encoding, Hosting, Asset Management, Syndication, Community, Monetization, Customer Experience.
        • Pre-Production, Production, Post-Production Processes
        • Reporting, Analysis, Testing
      • Review your organization’s current video program (content, processes, technology, resource management, best practices) and score the programs on a performance grid.
      • Map the current video program to the customer lifecycle to identify missing elements in the strategy.
      • Facilitate a collaborative meeting with stakeholders to review program ideas, recommendations, solicit feedback, and score potential programs based on their expected ease of implementation and return to the organization.
      • Plots scores for each program on a matrix to identify quick wins.
      • Quick Wins First
      • Be Creative with Content Acquisition
      • Don’t Make it Needlessly Complex
      • www.video-commerce.org Largest and fastest-growing consortium of interactive marketers seeking to learn about and advance the use of video in e-commerce
      • www.videoretailer.org Industry resource

    + Justin FosterJustin Foster, 2 years ago

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