Study Reveals Online Retail Sites Have More Impact With Video
More than one in three Internet users would find their number one method of product research more impactful if accompanied by video-based product opinions, according to a new study that has the potential to significantly impact the $130 billion e-commerce marketplace. In ground-breaking research commissioned by ExpoTV, Socratic Technologies, a San Francisco-based research firm, found that when compared with their number one preferred method of researching products and services, 36% found VideopinionsSM reviews more influential.
“We knew from day one that video was the future of word-of-mouth,” said Daphne Kwon, CEO of ExpoTV. “Consumer-generated video product reviews combine the best of all worlds by marrying the incredible power of the visual medium to convey vast amounts of information quickly with the authenticity of a word-of-mouth experience. Soon, no product research site will be complete without Videopinions Reviews.”By now it is an accepted industry and research fact that the majority of consumers value user-generated reviews and prefer sites that feature them. But the kind of honesty and true word of mouth that video product reviews provide delivers an increasingly compelling value proposition. The Socratic study shows that seven out of ten surveyed said they found Videopinions reviews an easy source of information to utilize.
“The point of the Socratic research findings isn’t that Videopinions reviews will replace trusted tools currently available to consumers.” said Bill Hildebolt, ExpoTV President. “Rather, it confirms both the very real appetite consumers have for product information and the incredible impact that a rich media interaction with other consumers can have on the research experience. We witness this daily through ExpoTV’s content syndication with Smarter.com and Buy.com.”Research MethodologyThe research was conducted by Socratic Technologies. 300 respondents with broadband connections were asked to select their preferred product research technique. Respondents were then shown a Videopinions product review. More than 1/3 of respondents confirmed that Videopinions enhanced their preferred product research tool.About ExpoTVHome to a fast-growing community of shopping influentials, ExpoTV’s members have contributed more than 60,000 engaging and informative video-based consumer product reviews. These VideopinionsSM reviews demonstrate product benefits from a real-world consumer perspective in an easy-to-understand video format. Covering a broad range of categories including kitchen products, consumer electronics, entertainment and travel, ExpoTV’s video review catalog is the largest in the world. Videopinions are distributed online and TV through ExpoTV’s popular broadband Web site; via partnerships with the world’s largest video portals including Yahoo! Video, AOL Video, Google Video, and YouTube; to leading e-commerce destinations like Smarter.com and Buy.com; and to 25 million digital cable homes, including subscribers to Comcast, Time Warner, and Charter. To experience ExpoTV, visit www.ExpoTV.com.About Socratic Technologies
About Socratic TechnologiesSocratic Technologies, Inc. is a leader in the science of computer-based and interactive research methods since 1994. Headquartered in San Francisco, it is a research-based consultancy that builds proprietary, interactive tools that accelerate and improve research methods for the study of global markets. Socratic Technologies specializes in product research for the business-to-business and consumer products sectors.
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