The Internet Marketing Driver: Glenn Gabe's goal is to help marketers build powerful and measurable web marketing strategies.

Tuesday, August 08, 2006

How RICH is Rich Media?


{This is the first post in a series of posts that I will be writing on Rich Media and its impact on conversion, sales, and revenue. Check back each week for another post!}


For those of you new to my blog, I have been developing Rich Media-based solutions for 11 years ...starting when CD-Roms were a hotter topic than anything Internet-based! Yes, I feel old even though I'm only 34! When presenting my work to potential clients, I always get the reaction, "Wow, your solutions look robust, but how are they affecting conversion, sales, and revenue??" Great question and one I thought I would begin to address in this post.

Let's take a step back for a second, I developed Heighten Marketing Technology™ in 2003, a video-based e-Marketing platform that enables you to provide flash video solutions that incorporate real-time reporting, connection detection, and forward to a friend functionality. Heighten is a great solution that has been used extensively by my clients for selling their products and services online. Why do I bring this up? Well, Heighten has given me incredible data when it comes to Rich Media and its impact on performance.

In the industry, everyone is finally on board with using web video...it took a few years, but we finally have critical mass. With all of the web video you see online, how much of it is actually helping companies earn money??

So, does Rich Media actually help increase conversion, sales, and revenue? I believe the answer lies in the application of Rich Media... For example, showcasing a product using short video segments based on each feature is much different than providing a service demo using narration, which is also different than marketing a high priced item in an online auction using streaming video. You need Rich Media Brainpower that understands the business at hand, understands the power and limitations of each technology, and bases your core marketing strategy on real experience. How many of us have seen (or tried to see) a video-based website that wouldn't load, or only loaded 20 seconds of a clip only to gasp for breath?? Which brings me to my first formula and it's a doozy:

# of visitors who cannot view your website * average sale price = $0.

Pretty simple, huh? Now go tell your CEO that this is what happened when you hired a few college grads to develop your latest campaign! ;-) The Rich Media answer lies in how you apply it in your online marketing campaigns. Each solution is different... each business is different... and you need to build strategies that are flexible, use the power of Rich Media correctly, and that always tie back to the end goal...conversion, sales, and revenue!

Next week I will delve deeper into this subject so please check back. Now go and visit youtube.com to watch an eight year old spilling spaghetti on his kid sister's head! :-)

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2 Comments:

  • At 9:00 AM, Anonymous Joe R. said…

    Glenn,

    I couldn't agree more with you. I've also seen clients want to run with video ads without a full understanding of the technology and how it will tie back to their goals.

    Do you have a recommendation on how to reel the conversation back in and focus on the basics first?

     
  • At 2:35 PM, Blogger Glenn Gabe said…

    Joe,

    That's the hardest part...the client gets really excited, but you have to be the person that reels everyone back in (after you just got everyone excited...)

    Having a formal process in place for building campaigns is the best way to get everyone back on track. Map out as much as you can about the campaign goals, the types of customers that your client has, and then develop a rich media strategy for achieving those goals.

    Glenn

     

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