December 30, 2014
Last we heard of the Menlo Park-based Vilynx, they were on the tail end of a $1.9 million funding round to expand their customer base with publishers, universities, and eCommerce. To fulfill that mission, Vilynx today announced that they have launched a video conversion analytics product specifically for eCommerce retailers.
Based on the Vilynx video preview technology, this new conversion analytics solution links desktop and mobile video views with real-time sales conversions. In effect it enables brands to quantify and evaluate precisely what video, and what part of the video, is visually driving a consumer’s purchase.
“Video consumption is a huge part of desktop and mobile eCommerce, and grows larger every day as consumers seek visual product information and reviews prior to purchasing,” says Vilynx CEO and co-founder, Juan Carlos Riveiro. “Our video conversion solution empowers online retailers and brands with real-time business intelligence into consumer interaction within their video content, and allows them to optimize their media strategy to its full revenue potential.”
According to the team, there’s a rising tide of video consumption, and conversely, linked marketing; the introduction of Vilynx’s video conversion solution aligns perfectly with this trend. And about 51.9 percent of marketing professionals worldwide cite video as the type of content with the best ROI.
Aside from the obvious, the benefits for eCommerce retailers are bountiful. They can link video views to consumer purchases, identify specific parts of a video driving purchases, target and segment video previews tailored to specific audiences, and optimize video previews via machine-learning.
There are already a host of retailers using the new platform too. WaterField Designs recently implemented the analytics to further understand their customers’ path to purchase and improve their own conversion rates.
“We use the Vilynx preview technology to keep our customers engaged, and the video conversion analytics to let us know which videos lead to a specific purchase,” says Gary Waterfield, CEO and founder of WaterField Designs. “This lets us focus on creating videos that our customers appreciate, drive conversion, and lower our production costs. We now have a way of quickly measuring the effectiveness of our videos.”
This is a pretty big step for eCommerce retailers, who will now have the ability to run consumer-driven video campaigns to optimize sales and increase their ROI. And the best part of this new feature is that retailers can tap into Vilynx’s solution with only one added line of code.
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