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Luxury Brands and Online Video Go Together Like Wine and Cheese

July 3, 2012
By Priya Alexander

These days, shopping online is a no brainer. It's convenient, efficient and often times cheaper.

But while it's easy to pull the trigger on a razor subscription or new gadgets, it's hard to plop down $3,600 on something as subjective as a Louis Vuitton bag without seeing the real deal first. When it comes to luxury goods, consumers don't just want a photo, they want to get up close and personal. 
 
That's where online video comes into the picture. After all, luxury brands and online video go together like wine and cheese. Jim Disco, president and chief revenue officer of SundaySky, wrote on Luxury Daily about how today's high-end brands can leverage video technology to create a personalized experience and drive sales. By engaging their fans, brands have a better chance of "converting a browser into a buyer in the luxury market" -- no small feat.
 
To satisfy consumer demands, these videos should show close ups, shots from various angles and if appropriate product demonstrations. But videos aren't just to persuade consumers to jump the gun, Disco says. With targeted online video ads, brands can engage new consumers to avoid buyer's remorse and minimize returns. This is all the more effective with Nielsen’s finding that an increasing number of consumers trust online ads. But the work doesn’t stop there. “[S]mart videos know which customers are repeatedly bringing business to the brand,” Disco writes. “The videos for those visitors can include incentives, such as, ‘you’ve earned special rewards.’”
 
Selling luxury goods on the Web comes with its set of challenges. But using online video to create a personalized experience can drive higher conversions, revenues and customer satisfaction. 
 
Priya Alexander is Solutions Marketing Manager at Ooyala, VideoMind's parent company. 
Posted in Online Video News
Tags luxury, brands, online video, online video ads, video monetization
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