In its second-largest acquisition, Amazon buys the company for $970 million.
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E-retailers who intelligently select a topic and present it in a compelling or entertaining way can be successful with this kind of application of online video, he adds. “Like anything else, it’s all about execution,” Gorog says. “There are tons and tons of videos on the web. So you have to do something special that piques interest and excites viewers in order to get the viral effect that helps boost brand awareness.”
For e-retailers looking to succeed in the year ahead, they need to be doing “something special” in interweaving channels, enhancing customer service, increasing personalization and adopting new technologies, the CEOs say.
“Innovators always will have a leg up. And they’re the ones doing the things that increase brand power,” Gorog says. “Because competition will only be getting broader and heavier, brand power will be more important than ever. Respected and well-known brands more easily rise above the clutter. If an e-retailer can become one of the top three default brands in a product category, it will succeed and be very difficult to dislodge-assuming it continues to innovate. This is a requirement, not an option.”
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