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Challenges:
This global consumer electronics company has a thriving ecommerce operation in EMEA (Europe, Middle East & Africa) selling laptops and other devices direct to consumers. The key challenges included: - The Company has a very successful product configuration tool providing consumers a variety of ways to personalise their products. It was looking for ways to easily communicate the options and capabilities to more consumers
- How to engage consumers with trusted, credible content that wasn’t deemed to be ‘selling product’
- How to get consumers directly involved to generate content in support
- How to generate sales directly from helping users to better understand the options available to them
Solutions: Knexus is providing a social video based solution that combines features from its K’nex-us 2.2 platform and the Social Video App to create a compelling user experience. The capabilities include:
- How -to-videos built into customer purchase journeys
- Integrated social interactions with video content
- Users interact with one another and the brand (on a selective basis)
- Moderation combined with multi-channel approach across stores, call centres and online
- Users have the ability to purchase directly from video
- Video Gallery of how -to-videos provides immersive experience and powerful resource for users
- Content search based on user ratings bring trust and credibility to content
- User generated content option for phase II
- A secure admin control panel provides powerful and agile tools to support the multi-channel & ecommerce teams
- All video content easily uploaded , managed and quickly deployed to unlimited sites or pages
- Customize social features, moderate social activities around content and customize admin rights for different level of administrators
- The panel incorporates reporting tools with powerful analysis on user behaviour , content popularity & usage to evaluate ROI
- The complete technology solution is provided by Knexus as a service, with guaranteed delivery, storage and bandwidth capabilities globally
Results:
Knexus uses 4 main indicators to measure this project:
- Revenue – Users can to make purchases directly from the App; The use of how-to-videos will make users more likely to understand the product and buy; Access to peer group conversation
- Reduced Costs – Primarily associated with reduced product return rates as social video approach improves pre-purchase understanding of product capabilities
- Engagement – Consumers ability to share insights, generate content in support, and interact with others will increase the willingness to make online purchases
- Traffic – Site traffic increases are targeted through a viral approach of video content distribution , more social engagement on the brand sites and an uplift in organic search results from both video and social content
Since this is the early stages of deployment, we don't have data points to share yet. However, we have created targets based on industry benchmarks. Examples of the data used to compile these include:
- Use how-to-videos as part of ecommerce strategy results 10-12% increase in product sales and 40% increase in online sales (Intermark)
- Viewers who chose to view video converts at a 400% increase whilst decreasing product returns by 25% (Ice.com)
- 79% of online UK retailers surveyed reported that the main benefit of consumer-generated rating and reviews was that they improved site conversion rates (eMarketer)
- People who read a review were 30% more likely to purchase a product and visitors who wrote a review were 80% more likely to convert (Coremetrics)
- Giving shoppers the ability to sort products within a category by customer rating led to a sales increase of 41% per unique visitor (PETCO)
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