Lowe’s subsidiary boosts conversions with product videos
New York – ATGStores.com, an independent, wholly owned subsidiary of Lowe’s, has increased conversions by 14% with customized product videos from Treepodia. This represents a 5.5 times ROI based on the increase in sales.
ATGStores.com carries a selection of lighting, furniture, hardware, plumbing and home décor. The retailer had created its own “how-to-videos” to help customers with their own projects but wanted to create product videos on a large scale.
Treepodia’s e-commerce video platform includes monitored video hosting, streaming, and a multi-environment video player. Treepodia created 219,000 customized product videos for ATGStores.com within 24 hours based on the company’s existing set of product data. The Dynamic Video Sitemap ensured these videos and the company’s existing “how-to” videos were fully indexed by Google and distributed on YouTube.
“Showing multiple product images is great but it’s not the same as videos which give customers a full sense of the product with its features and benefits,” said Nick Hupka, director of marketing at ATGStores.com. “We wanted to give customers a more complete experience, leading them to have more confidence before buying. When customers are more confident, sales are higher sales and customers are more likely satisfied.”
The company has renewed its contract with Treepodia and is in the process of implementing a new project with retargeted YouTube video pre-rolls.
GameStop buys Geeknet
Fairfax, Va. – The “unnamed strategic bidder” who outbid Hot Topic to purchase Geeknet Inc. has been revealed. GameStop Corp. will acquire all of the outstanding shares of Geeknet’s common stock for $20 per share in cash, or about $140 million.
Geeknet also announced that it has terminated its previously announced merger agreement with Hot Topic Inc. Following discussion with both GameStop and Hot Topic, Geeknet determined that the GameStop transaction represented a superior proposal. Geeknet will pay Hot Topic a termination fee, for which GameStop has agreed to reimburse Geeknet.
“This acquisition creates value to all stakeholders involved,” said Paul Raines, CEO of GameStop. “The addition of Geeknet is an important expansion of our global multichannel platform and we are excited to leverage their product development expertise to broaden our product offering in the fast-growing collectibles category and deepen relationships with our existing customer base.”
The transaction has been approved by the board of directors of both companies. The acquisition is expected to close by the end of GameStop’s second quarter 2015.
“Our board and management team believe this transaction is in the best interest of Geeknet and its stockholders,” said Kathryn McCarthy, CEO of Geeknet. “As a part of GameStop’s family of brands, Geeknet will be well-positioned to achieve our goals of increasing our brand awareness and expanding our product offerings.”
Geeknet stockholders representing approximately 21% of outstanding shares have committed to participate in the tender offer.
The most important metric in e-commerce
Online, as in stores, conversion is king when it comes to driving top line sales, which is why digital marketing services firm eClerx has developed a conversion rate optimization (CRO) solution that addresses online retailers’ most pressing problem.
At the Internet Retailer show in Chicago, eClerx unveiledits CRO solution to help marketers capture the true value of on-site traffic – turning visitors into customers and driving incremental, profitable sales. eClerx’s CRO solution helps leading Fortune 500 companies address the common challenges of why and when customers are abandoning a website, and enables higher on-site conversions using an effective, sustainable and scalable approach.
“Now is the time for retailers to implement a CRO solution for the upcoming holiday season,” said Don Nelson, head of Commerce & Content, associate principal, eClerx. “By focusing on search behavior, our CRO solution delivers a better experience while driving more sales by helping consumers quickly find what they are looking for.”
Converting visitors into high-value customers remains a challenge for some of the world’s most prominent retailers, with an average conversion rate of only 2-3.5 percent. In fact, 38 percent of client-side marketers and agency professionals believe their company has little to no control over conversion rates (Econsultancy, 2014 Conversion Rate Optimization Report).
Yet with the growing ubiquity of search, marketers can now directly improve conversion performance and raise topline revenue with eClerx’s proven SEO methods. eClerx’s CRO solution is proving to increase conversions by up to 100 percent, decrease bounce rates by 23 percent and increase site traffic by 10 percent.
Using a holistic process of consulting, optimization and management, eClerx’s approach improves four core drivers of site clickthrough rates and SEO ranking – search, relevancy, credibility and usability. Year-to-date results have driven over $20 million in incremental sales, showing especially strong return for retail clients.
“Being able to draw upon eClerx’s platform and eCommerce environment experience has enabled us to optimize our approach, increasing confidence in the success of our site re-platforming program,” said Graham Drew, Digital Business Change, Walgreens Boots Alliance. “I commend and compliment eClerx for their knowledge, commitment and abilities.”
eClerx helps companies optimize core and critical business operations and solve complex data challenges across industries. With this new CRO solution, customers can receive:
• Improved Traffic Quality & Website Relevance – enhancing site navigation, content quality, and keyword-to-page mapping.
• Improved Content Engagement – developing clear and visible calls to action, quality of site search results, and improving content effectiveness.
• Improved Conversion Rate – driving incremental revenue and profit, mitigating risk, and building credibility.
• Achieved incremental sales growth – the solution improves top and bottom line results, providing a continuous and optimized clickthrough rate while optimizing SEO to reduce spend.
CRO is a cornerstone to the eClerx Retail Solution, but also applies to marketers across industries seeking improved website performance and conversion – from financial services and technology to travel and leisure, telecommunications, software, and industrial manufacturing.