The slogan on the wall at the entrance to Vendaria’s Pioneer Square headquarters pretty much says it all: “Moving Pictures…Moving Products”.
This latest player in streaming media solutions for e-commerce is finally out of stealth mode and ready to make an impact on the online consumer experience as early as this holiday shopping season.
According to Vendaria President & CEO Scott Ferris, Vendaria’s services allow manufacturers and e-retailers to solve one of the most significant problems surrounding online shopping – the inability for consumers to see the size, scope and unique features of the product they wish to buy. So instead of presenting consumers with a flat digital image, Vendaria’s platform allows for a 60 seconds product demonstration video clip. “It is all about harnessing the power of video to compel consumers to make a purchasing decision,” says Ferris”.
The company has been in formation already for more than a year, quietly developing and testing its product to meet the needs of its three constituencies: The manufacturer, e-tailer and end-user consumer. “We decided to get it right vs. get it out,” says Ferris.
Vendaria’s platform features some of the latest detection technology for media browser connection. It automatically detects consumers’ media player, browser version and modem speed so consumers do not have to download new software to watch the product demonstrations. For the manufacturer and e-tailer, the platform
provides real-time ROI analytics, accessing in real-time such info as how many people watch the video and how many are carting.
One of the initial product categories the company is focusing on is toys. That explains why visitors to the company’s offices are likely to run into everything from the latest K-Nex products to My Talking Truck Buddy.
Housewares and consumer electronics are also categories the company is targeting.
As regard K-Nex, an example of a Vendaria video can be seen at: http://www.knex.com/catalog/frameset.html. Just click on “CyberKnex”.
In addition to K-Nex, Vendaria has already inked partnerships with companies such as eToys and ZainyBrainy.
So what is the profit model? Vendaria charges a fee for the video production. The company has in-house digital video equipment and also has formed partnerships with studios throughout the U.S. and the world. It also generates revenue from “Clip Views”.
And why does Ferris believe that companies will be willing to go forward with the production costs. “Just as manufacturers use 3-7% of their revenue for MDF (Merchandise Demonstration Funds) in the brick and mortar arena, it is only makes sense that they will do the same as the shopping experience goes online,” says Ferris.