Sales & Marketing Management - July/August 2008 - (Page 26)

TRAINING TECHNOLOGY INCENTIVES TRAVEL/MEETINGS Rich media, richer results Set your brand apart—then sit back and watch sales soar consumers are more likely to stay, browse and then purchase at retail Web sites offering comprehensive product marketing information and educational product content in the form of rich media. Seeking to create a complete shopping and research experience, retailers use the aforementioned rich media—a term encompassing interactive videos, online demos and other informational tools—to deliver product information and differentiate online products. This is precisely why many online retailers now focus on providing rich online educational content in addition to product-specific interactive information. Consumers embrace rich media Rich media marketing serves to increase the actual time spent on a given Web site, as well as overall shopper satisfaction, and it looks to be paying off. A WebCollage survey conducted during 2007 indicated that 71% of respondents would more likely visit and purchase a product from the physical store of a retailer whose Web site they had used for research purposes. What’s more, 91% of the respondents acknowledged it was “important” or “very important” for retailers to provide complete product information to allow them to research products online. But for many online shoppers, the experience comes up short. Some 44% of the surveyed respondents determined retail Web sites did not have the most complete information on manufacturers’ products, and 33% considered retail product content to be out-of-date. The survey reinforces results from WebCollage testing—completed across millions of consumers on retail Web sites—which found that when consumers access manufacturers’ rich media on retail Web sites, conversions increase by more than 80%. Online shoppers require complete, compelling and interactive product marketing content during their online research and shopping processes. Providing consumers with a superior end-user experience, while they conduct product research and shop online, ensures heightened product knowledge and a compelling experience. An Eyeblaster survey indicated consumers who used rich media while conducting online research had a 35% increase in expansion duration (the time a consumer chooses to spend www.salesandmarketing.com www.salesandmarketingmanagement.com T 26 SALES &MARKETING MANAGEMENT istock photo; composite illustration by Beth Meyers he Internet has utterly transformed the way consumers conduct product research. As the world’s technological sophistication grows, so does consumer demand for a more robust online experience. Today, online shopping is no longer just about the convenience of click-and-buy at home. Consumers now want greater product interaction, greater product detail and a greater sense of the online experience—all before they ever make a decision to buy. How do manufacturers and online retailers keep up with consumer habits? They have to find innovative ways to drive sales. They need to employ strategies that provide a complete shopping experience with ways and means that justify the ends. In short, they must find a way to “talk” to the consumer and keep him interested in the conversation. Consumers conduct product research at every point throughout the purchase cycle. No matter what stage of it they’re at, they’re relying on the Internet for information more than any other medium. And yes, this includes word-of-mouth, in-store cues and traditional advertisements. In fact, studies indicate that JULY/AUGUST 2008 http://www.salesandmarketingmanagement.com

Table of Contents Feed for the Digital Edition of Sales & Marketing Management - July/August 2008

Sales & Marketing Management - July/August 2008 Contents Editor's Letter Brian Tracy University Smart Sales Sales Strategy Smart Marketing Marketing Strategy Smart Management Management Strategy The Mother Lode of All Market Data Returns Embracing the Future Training Technology Incentives/Motivation Don't Become a Target Abroad Book Excerpt On the Road The Way I See It

Sales & Marketing Management - July/August 2008

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