Live Blogging from Internet Retailer Post # 5

We’ve been delivering KEY TAKEAWAYS from Internet Retailer 2008! (Post # 1, Post #2, Post # 3, and Post#4). This morning’s keynote and first presentations were completely uninspiring and disappointing. We were grateful to have them followed up by good presentations on Video and Social Networking. The speakers for these presentations included Eric Faintreny CEO of Redcats, Sean McDonald Director of Dell, and Heather Dougherty Director of Research from Hitwise.

The KEY TAKEAWAYS we received from these speakers are:

1.) Don’t Discount Myspace! – 95% of MySpace users visit MySpace once per month and although Facebook has been on fire MySpace is still the biggest player in the space. An interesting stat we learned was that 25% of Facebooks traffic comes from MySpace while only 5% of MySpace traffic comes from Facebook.

2.) Capture Early Adopters with Video – Early adopters are the most likely users to engage with Video in the context of eCommerce. This is important to know for manufacturers and retailers as early adopters are the influencers for fast followers and mainstream buyers.

3.) Video Tips – Keep Video relevant to the context of the content it appears with (i.e. don’t show branding videos on product pages or product videos on category pages). Don’t belabor the point with video content; short videos are often the most effective.

4.) Video Examples – For best in class examples of video implementation specifically designed to increase conversion take a look at www.QVC.com or www.MartinAndOsa.com

Stay tuned, more KEY TAKEAWAYS to come LIVE from Internet Retailer!

~Micha via Lenovo x60 @ Internet Retailer in Chicago.

Comments

[Johnny Chan]

VERY impressed by the Martin and Osa website. The ecommerce is well-done, and the video use is strong if sparing.

-johnny