Thursday, October 24, 2013, 5:34 PM ET|Posted by Will Richmond
Score another win for the importance of authenticity in video: newly released data from EXPO shows that in a test program when consumer generated video product reviews were placed on the relevant product pages in a major e-commerce site, they drove a 30% increase in site revenue for those products.
The test covered 8 different household and beauty products from Reckitt Benckiser Group such as Lysol, Airwick, Clearasil which were being sold on an undisposed retailer's commerce site. Sales for the products during the test period of June, 2013 were compared to June, 2012, adjusting for any that were discontinued or newly launched. The product review videos were supplied by consumer's using EXPO's platform.
Importantly, when consumers who were looking for more information on a product were given a choice of a consumer generated video or a professional video, they selected the consumer one 56% of the time, vs. 20% for the professional choice. In all, the consumer video reviews were selected by 50% of consumers who wanted more product info. There are 3 video review samples (here, here and here); they're all pretty minimalist, but clearly the authenticity of the creators resonates with buyers.
Based on the success of the test program, EXPO and Reckitt intent to expand to other retailers' sites with a goal of increasing product pages with video reviews by 300% next quarter.
Video Research Around the Web
- Cord-Cutting Got 75% Worse in Q1, Most Terrible Quarter Ever for Pay TV Multichannel News
- Many 4KTV Owners Don't Use Advanced Content Features Mediapost
- OTT Moves Beyond ‘Early Adopter’ Phase as 45-60 Set Becomes New Battleground Multichannel News
- Streamers Make More Shows But Cancel Sooner, Study Finds The Hollywood Reporter
- vMVPD Users Definitely Not Cord Nevers - Only 15% Previously Had No Pay TV Multichannel News
- Direct Video Ad Deals Soar Mediapost
- GroupM Predicts Streaming Will Have 'Gradual' Impact On TV Advertisers Mediapost
- YouTube is Responsible for 37% of All Mobile Internet Traffic Statista