Online retailers are moving quickly to
include video on their websites.
eMarketer reported that in 2010, 33
percent of retailers planned to add
video to their websites within a year.
That makes it a higher priority than
any other site initiative.
In the rush to launch a new e-commerce feature it can be easy
to lose sight of the key objectives, resulting in a disjointed video
presence, lack of metrics and insufficient business impact. The
best way to avoid that is to create a focused video strategy and
ensure that everyone understands it.
The video strategy encompasses everything from goalsetting
and logistics to identifying key decision-makers.
Whether adding video to a website for the first time or augmenting
an existing program, here are five steps for a successful
1. Understand the Scope of the Project
In much the same way a company’s mission statement guides its
overall business practices, your video plan’s vision will inform
all elements of your video strategy.
Before you can dive into the details, you need to envision
the scope of your video plan. Will you produce videos inhouse
or work with a professional video provider? Before
making your decision, consider the advantages and challenges
of both options.
Regardless of which method you choose, a video strategy
session should be the first step you take with your video team.
In this meeting, steps two through five are discussed and documented.
2. Zoom in on the Details
Once you have a vision for the project and resources to make it
a reality, you can hone in on the details. E-commerce professionals
know that adding a new feature entails many aesthetic,
logistical and organizational components.
The video team should document requirements for branding,
talent choices, scripting, audio, filming style and editing in
an initial meeting. This enables the video team to move forward
without having to go back to key decision-makers for feedback
on each component.
Timeline and budget should be agreed upon during the
strategy meeting as well. Setting an initial timeline gives urgency
to the project. And since video can drive increased conversion
as well as engagement and branding benefits, the longer you go
without video, the more revenue you miss out on.
Identifying who will be involved in the project is essential to
ensure effective communication. I’ll explain how to identify key
stakeholders in step four.
3. Set Goals and Discuss Measurement
Setting goals upfront is one of the most vital parts of creating a
video strategy. Without clear goals, there’s a good chance of losing
Understanding how success will be measured and reported
influences your plan. As part of your strategy, decide what metrics
you hope to impact. Depending on your goals, metrics to
track could include view rate, time on site, pages per unique
visitor, conversion rates and more.
Determine what metrics you’ll monitor and set your reporting
plan early in the process of laying out your video strategy.
That way, key decision-makers and the video team will be
clear on the expectations from the outset.
4. Identify Stakeholders
Engage all appropriate parties when creating your strategy. Involve
stakeholders from your e-commerce organization, communications
team and site merchandisers to start.
Here’s a good rule of thumb: if someone is responsible for
the business results you’ll be driving or the brand your videos
will speak on behalf of, they’re probably a stakeholder. Getting
everyone on board early ensures that the program follows the
5. Test and Learn
Remember when adding ratings and reviews to websites was
new? Companies had to test different formats and placements
to obtain the most customer involvement. Through this process,
we’ve learned best practices and better understand consumer
behavior. The same is applicable to video.
A good video strategy is solid, but doesn’t discount the possibility
of revision. If done well in the beginning, changes
should be evolutionary and based on insights from the data that
is collected. After deploying the videos, analyze what works,
get rid of what doesn’t and continue to progress.
Strategy Leads to Success
Adding video to your website is not something done on a whim.
It takes a meticulously planned and expertly executed video strategy.
A good strategy guides the project and encourages new opportunities
for growth. Follow these steps and your video strategy
will provide a clear plan for a successful video program.
About the Author:
Craig Wax is the CEO of Invodo, leading the company’s overall
market strategy, product vision and investor relationships. He
brings a seasoned general management perspective to guide Invodo’s
rapid growth. Craig is a frequent speaker at industry events such as
the National Retail Federation’s Big Show, the Shop.org Summit
and Innovation Workshop, and eTail.