Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
77% of consumers take action after watching a video.
77% of consumers who watch interactive videos from Montage Memory, which sells themed magnets and magnet boards, go on to click a button featured on the side of video to sign up for a newsletter, read the retailer’s blog or share the video on Twitter and Facebook, the retailer says.
Granted, those results come from a relatively small sample size. The retailer posted the first videos to its e-commerce and social media sites 20 days ago and those videos have only been viewed 282 times, says owner Travis Weirich.
Weirich, who makes the videos using web tools from Viewbix, says the value of the vendor’s technology is that it makes it easy for a business to add interactive elements to a video. Most Viewbix videos are arranged with buttons on the right side that lead to features such as links for more information or to sign up for a newsletter, and buttons on the bottom for social sharing. Viewers can click the buttons at any time and the video pauses while they interact with the buttons.
“It’s more than putting a video out there with a start and stop button,” he says. “I’m posting good [content] that people are interested in and that’s what’s really driving conversion rates.” Within a few months of collecting data about customer interactions with the videos, which he says Viewbix provides in a Google Analytics-like report, he says he’s confident he’ll see increased conversions on his site.
“There are a lot of statistics out there about video on your web site or on Facebook increasing your conversion rates,” he says. “But then adding the Viewbix onto that, adding other sources of information, builds customer confidence and they become more familiar with you and your brand.”
To make a Viewbix video, Weirich enters the link for a video he’s uploaded to YouTube into the Viewbix web application. From there he can edit which buttons will appear above the video. Viewbix gives retailers a link so that they can post the videos on their e-commerce sites, blogs, Facebook pages or anywhere else. The entire process, he says, takes less than 30 minutes.
A basic version of the technology is free. The pro tool, which Montage Memory uses because it offers tools to customize the interactive features, costs $19.95 per month or $199.95 per year.