Partner Spotlight: EXPO Harnesses Video ROI with Signal

Aug. 22, 2014

 

Measuring Video ROI

User-generated content presents a huge opportunity for brands and retailers. Study after study shows the impact that user-generated product reviews have on consumers:

  • 51% of millennials say consumer opinions found on a company’s website have a greater impact on purchase decisions than recommendations from family and friends. (Source)
  • User-generated videos used in an e-commerce test drove an average of 30% additional revenue (Source: EXPO)
  • Visitors who viewed consumer video had a 66% larger basket size (Source: EXPO)

Major internet retailers like Amazon and Zappos have made user reviews and video a big part of their product pagesand the next step in the evolution of user generated content is video reviews. Its clear how much brands stand to benefit from user-generated videos about their products, if they can only find a way to reliably gather useful, high-quality content.

video ROI metrics

Enter EXPO, a Signal Certified Partner and a leader in cultivating and syndicating user-generated product reviews. The EXPO platform is used by brands to capture and distribute product video across brand sites, YouTube, social media, and beyond. Through EXPO, brands can activate their audiences to share videos featuring objective product reviews, how-to tutorials, and product demonstrations.

EXPO also provides suggestions to its community on how to make compelling video reviews (e.g. review shaving products in the bathroom, not the garage), and offers quality control through its own screening of the videos.

One of Signals clients, a major national retailer, uses the EXPO platform to feature thousands of videos on its e-commerce site. Many of those have been user-generated video reviews syndicated from the EXPO community, and the retailer has made video into a signature part of its e-commerce strategy.

EXPO was eager to provide the retailer and other clients with meaningful performance metrics for the videos. But the company typically can only see metrics that are available through its video player, unless a client allows EXPO to place it tags throughout its site. Concerned with impact of increased page weight on the user experience, the retailer did not want to place additional tags on their site.

Without their tags on the site, EXPO didnt have access to the longitudinal page- and session-level data it needed: What influence did watching the video have on a persons shopping cart? Did a video lengthen the time someone spent on the site? Did it impact loyalty?

By setting up a server-direct integration with Signal, EXPO was able to access much more useful data from the retailers websitewithout negatively affecting site performance.

This enabled custom, video-only reports to be generated combining player and site data, explains EXPO CEO Bill Hildebolt. This data is already allowing video content budgets to be targeted and optimized. What was a black hole before is now a wealth of data we can use to make decisions and show the real impact that video has on conversions.

And Signals data feed lets EXPO run the analytics that they had been itching to dowhile leading to fascinating insights about how consumers interact with video:

  •  A video review on a product page helps conversion, even if a user doesn’t click on it. The still image of a video review alone helps make the sale.
  •  If a shopper watches the video, conversion rates skyrocket. “You’ve won the battle,”says Hildebolt. “Once you interact with a video, you’ve leaned back a little, and you’re educating yourself. Conversion rises 50-60% for video viewers across our client base.”

Using Signal, the retailer and EXPO were able to gain insight into their video ROI. And EXPO gained much more useful metrics, helping it to prove the effectiveness of its product and serve their customers better.