Online Video Helps Lenovo Drive Traffic, Increase Conversions
PROBLEM: Lenovo, a $21 billion personal technology company and the world's second largest PC vendor, wanted to increase its online conversion rate.
SOLUTION: Partnered with a SaaS online video platform provider.
RESULTS: During a two-month period when product videos were launched for over 1,200 products on its U.S. e-commerce site, Lenovo realized a 2 percent average increase in revenue across all products. Furthermore, 5 percent of the visitors who watched Lenovo's product videos made a purchase, with the website recording an 88 percent video viewing completion rate, an indication of improved online engagement with the brand.
Using video as a marketing tool wasn't a novel idea for Lenovo when it approached SundaySky, an online video platform provider, to inquire about its services. The technology company had already been using video as a marketing tool for its outreach videos and product walkthroughs. Using video as a means to deliver personalized shopping experiences to consumers throughout its vast online product catalog was something entirely different, however.
Lenovo began using SundaySky's SmartVideo technology to engage consumers in real time with personalized information (e.g., personal account details) via video. The fact that the SmartVideo technology is capable of producing videos in real time was particularly attractive to Lenovo, says Lewis Broadnax, executive director, web sales and marketing at Lenovo.
"We're constantly updating our product catalog and SundaySky is able to create new videos for any product or accessory we have within 24 hours."
In addition to the fact that the videos produced by SundaySky's SmartVideo are scalable (there's no limit to the number of videos that can be created), personalized based on prior browsing behavior or purchase history (promotions are then displayed based on that history, geography and/or preference segmentation), and produced in real time (allowing for last-minute price changes, special offers and seasonal deals), they're also measurable. SundaySky's platform gathers and analyzes visitor behavior in real time, ensuring that Lenovo's videos are continually optimized.
"These videos have helped us to improve on our conversion rate, added to the average order value per visit and helped us grow revenue," notes Broadnax, adding that Lenovo will continue working with SundaySky going forward to fully optimize on the video services it offers.
For a company like Lenovo that sells technology products (e.g., laptops, desktops, tablets) and accessories (e.g., printers, scanners, keyboards, cases) online, it only makes sense that a technology platform such as SundaySky's SmartVideo would be the answer to making that experience a better — and more profitable — one.
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