How many people have seen those video screen kiosks or iPads in airports featuring interesting clips and little commercials and thought, “this would be an ideal medium for live video shopping.”
Until today, no one we knew of.
That’s all changed with the August 24 news that new shoppable video platform Revo Video is partnering with ReachTV to bring the shoppable video concept to the gate area — and other places at an airport near you.
ReachTV is North America’s largest airport television network with more than 2500 screens in 90 commercial and 58 private airports.
Speaking with PYMNTS’ Karen Webster right before the news broke, Revo Video CEO Joel Leonoff conversed about the potential of shoppable video and live stream selling TikTok style without the TikTok, first via the ReachTV pact, then over time to more content distribution networks and brands that want to acquire new customers.
“Our system essentially provides the capability to embed shopping carts and checkout within any video,” he said. “The ability to commerce-enable all [of the ReachTV] content is pretty simple with what we're bringing to the table.”
Through the ReachTV deal, Revo Video will make the airport network’s existing content “immediately shoppable” with what Leonoff called a “five-minute” process to get up and running.
Not to mention, Leonoff said, all of the content just waiting to be produced and made shoppable once brands understand both the ability to make content shoppable and the reach, no pun intended, via the Revo Video/ReachTV collaboration.
If Leonoff’ s name rings a bell, it’s because he has a long and storied history in payments — most recently as founder and CEO of online payments platform Paysafe, which went public in March of 2021.
Shoppable Story Telling
What Leonoff and his team grasped is staring in the face of everyone who stares at their screens every day or wakes up every morning to scroll their Instagram or TikTok feeds looking for content: The power of context and storytelling made video-first.
Revo Video has turned that storytelling into a shoppable moment with a one-click experience that boosts conversion by keeping eyeballs on the content and away from checkout screens. Revo Video’s goal is to eliminate the “six steps to checkout” by giving shoppers a one-click way using any payment method, including international payments, as the point of inspiration.
That way, Leonoff says, everyone wins: the influencer selling the brand, the brand whose product is being sold, the network hosting the video, the consumer who makes a purchase — and of course Revo Video. Revo takes a 5% cut of products sold through its platform.
For their part, brands are increasingly looking beyond social media click generation to recognize the power of influencers who aren’t just out to realize their champagne wishes and caviar dreams by checking into resort hotels, gratis, and taking snapshots of themselves in the infinity pool du jour, he said.
Bored travelers watching the monitors at the Concourse E piano bar in Atlanta or ordering a pizza on a tablet in Newark are natural audience for authentic messages served to consumers ready to click and buy by influencers who are passionate about what they sell.
“The brands get it really quickly,” he said. “They recognize, in my opinion, that working with creators and influencers needs to be part of their mix.”
One-Click Commerce and Inspiration
Joining the chorus of platform visionaries who see all video as shoppable, Leonoff is leveraging consumer affinity for influencers and the search for inspiration, putting in all together with a one-click checkout functionality that uses tokenized credentials to eliminate friction for the shopper at checkout. After their first interaction with the Revo Video platform, shoppers don’t need to sign-in. Device data is used to prove user identity.
Tightly integrated payments, like one-click checkout with payments choice including BNPL in the future, Leonoff said, is one of Revo Video’s biggest differentiators.
“Even in traditional payments, how many people are really doing one-click checkout? Very few,” he remarked.
Leonoff also predicts a “deluge of interest” outside of the shoppable video context when brands see the power of the one-click experience they’ve built.
“They're going to look at their websites and say, ‘maybe you can help us with our website because we'd like one-click checkout on our regular stuff.’”
Today Gate C13, Tomorrow the World
A better checkout solution is only as good as the ability for video to motivate a sale, at scale. That’s where Leonoff’s distribution model comes into play with the importance of the ReachTV partnership.
Calling it a “virtuous circle,” shoppable video content brings more programming to the ReachTV network. More shows to the network mean more eyeballs and more opportunity for brands and influencers to monetize those eyeballs – and an incremental sale.
But it’s just Revo Video’s first stop. Leonoff sees a proliferation of content-driven marketplaces on ReachTV and other networks bringing together brands and influencers and storytelling around specific products. In that world, consumers can shop brands serendipitously within the programming they’re turned into, or find a channel dedicated to their interest.
“The evolution is that we'll be building content-driven marketplaces, beyond specific brands, for wine and alcohol, for jewelry, for health and beauty, etc., where we're bringing brands and influencers and customers together. It's a three-legged stool and we have the ability to marry everyone up together in this ecosystem that just does it all,” he explained.
First Published here
Live shopping may have started in China, but now it’s picking up steam around the world. According to some studies, around half of companies in the US and Europe report incorporating live shopping into their strategies in 2021 or earlier, and livestream platform Bambuser says livestream-shopping viewership is growing by ~38% every quarter in 2022.Brands are using live shopping to increase sales and customer engagement year round, but with the holiday season looming, experts say it’s good timing for those who haven’t yet tested the livestream waters to jump in.Here’s how experts say brands can get started and get the most out of their video content:Keep it simpleDutta Satadip, chief customer officer at CX automation platform ActiveCampaign, said getting started with live shopping is a relatively light lift, even for smaller brands.“Today, the cost of producing a good product demo—which is basically what livestream is—it’s relatively low,” Satadip, who helped launch live-streaming options at Pinterest, told Retail Brew. And it’s a great opportunity for small and medium-sized businesses to bring traffic directly onto their site, he added.Adi Itach, chief marketing officer at live-shopping platform Buywith, said livestreams provide a more effective alternative to social media ads. “This is not a banner on Facebook or Instagram that is chasing after you,” she told Retail Brew. “We’re not fighting on eyeballs; we’re bringing the users to us.”Influencer Rachael Kirkconnell, who has hosted livestreams on Buywith for brands like Charlotte Tilbury and Steve Madden, said her livestream attendees are more engaged than her 867,000 Instagram followers.Viewers are “locked in” for the entire stream, and attendance increased throughout the events, she told Retail Brew. “You just don’t see that, especially if you’re going live on TikTok or Instagram.”Start early, start basic: Yaniv Navot, CMO of marketing-software provider Dynamic Yield, said even brands with small budgets can use livestreams to stand out in a crowded holiday-shopping landscape.Holiday sales aren’t an effective means of differentiation because the holiday shopping season starts earlier and earlier every year, and most companies will have a sale at some point, Navot said. They also don’t foster long-term loyalty, he added.Instead, brands should use livestreams earlier in the year to get their consumers excited about the holiday season. One strategy is scheduling live shopping events that highlight gifts for different people—mom, dad, significant others—he explained. “The trick is not to lead with discounts, but to weave them into an already engaging overall experience.”Satadip advises companies to feature their core products until they have a better understanding of just how successful the events will be. If sales are unexpectedly high, brands likely have enough inventory of the core products to meet demand. And there’s a longer horizon to sell those products in case the first livestream doesn’t meet expectations, he said.Brands should then use personalization tactics like basket expansion or recommendations based on purchase to leverage seasonal products, Satadip said.Work what you’ve gotLiz Ritzcovan, chief revenue officer at text messaging platform Hustle (which recently launched a video component), said brands should use video shopping to rope in their existing audience for the holiday season.“It’s the low-hanging fruit because they are customers that are already connected to you as a brand,” she told Retail Brew. “They know who you are, there’s trust, there’s that connectivity already happening.”And live-shopping campaigns have much faster turnarounds than more traditional options, which makes it a good option for brands finding themselves up against the deadline of the holiday rush, she explained.Reuse and recycle: Joel Leonoff, co-founder and CEO of live-shopping platform Revo Video, said he advises companies to use the video from their livestreams beyond the event itself, but that doesn’t mean they have to redo their strategy for the season.Making clips into shoppable videos is a simple process, Leonoff said. And those clips can be integrated into existing marketing efforts. “So if they’re already considering some type of email campaign, this is just putting it on steroids,” he told Retail Brew.Learn More
Brands are using live shopping to increase sales and customer engagement year round, but with the holiday season looming, experts say it’s good timing for those who haven’t yet tested the livestream waters to jump in.Learn More
Revo Video has turned that storytelling into a shoppable moment with a one-click experience that boosts conversion by keeping eyeballs on the content and away from checkout screens. Revo Video’s goal is to eliminate the “six steps to checkout” by giving shoppers a one-click way using any payment method, including international payments, as the point of inspiration.Learn More
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