DMS Insights: CPG and Retail Marketing News

Digital Marketing Innovation Inspiration

loading

What Is ROVI?

August 24, 2020 Joelle Beckett

Online shopping has escalated significantly during the pandemic, but the desire for traditional hands-on shopping experiences has not waned. Keen digital marketers have met consumers’ brick-and-mortar shopping desires by developing the next best thing: hi-tech, visual platforms for retailers. These 3-D virtual reality (VR) and augmented reality (AR) shopping platforms use visual commerce to yield a significant Return on Visual Investment (ROVI).

What Is Visual Commerce?

Shutterstock_1712828788 Decorating Apartment: Man Holding Digital Tablet with AR Interior Design Software Chooses 3D Furniture for Home from Online Shop with Shown Prices. Over Shoulder Screen Shot with 3D Render

Visual commerce transforms online shopping into an interactive experience, ideally converting shoppers into customers with engaging visual content. Because shoppers can’t feel and smell items online, the next best option for brands is using sophisticated digital platforms that allow consumers to envision products with AR and VR. The AR and VR technology allows the consumer to view the products they customized digitally from all angles or locations uploaded by the consumer before purchasing. For example, through visual commerce, consumers can pick the sofa they like, immediately choose from different color options and digitally place the sofa in their living room to “test it out.”

With the advancement of visual commerce, more consumers are shopping virtually for big-ticket items such as furniture and cars, in addition to typical online purchases like housewares, clothing and groceries. With this new visual technology, ROI has been expanded to include specifics about returns on visual investment, or “ROVI.”

What Is ROVI?

ROVI is a key metric to measure visual commerce campaign performance, which is gaining popularity because it offers convenience and customization for consumers shopping online. According to Chris Beaudin, Director of Marketing for Visual Commerce Platform Atlatl Software, ROVI has a return of about 10 times the initial investment. ROVI can be measured by clicks on photos, social media engagement, volume and reach, website sessions and online sales conversions. 

Visual influence is powerful, with a study revealing 92.6% of respondents believe visual appearance is the top factor affecting their purchasing decisions. In light of the increased digital shopping demands today, it is essential to invest in the efficiency and experience offered with visual commerce to satisfy tech-savvy consumers and increase consumer reach, which can lead to sales.

What Is The Impact Of ROVI On Digital Marketing?

Through visual commerce, consumers can customize products before purchasing, so they already have a feeling of ownership when the finalized - and personalized - item is shown on the product website immediately. A product rendered with the consumer’s logo or color choice, digitally placed in their workplace or home, transforms it from a possible purchase to a personalized visualization of their ideas. It’s important to keep in mind, people remember 80% of what they see and do, and only 10% of what they hear, so interacting with products virtually with visual content can lead to consumers moving down the shopping funnel quicker. 

“These [interactive virtual shopping experiences] are all subtle emotional ways to connect with your buyer to influence the purchase, which is your goal as a marketer,” said Beaudin. “They own [the customized product] digitally, so naturally they want to own it physically.”  

Are You Looking To Boost Your Consumer Engagement?

Digital Media Solutions® deploys a robust database of consumer intelligence to develop scalable and reliable digital performance marketing campaigns that engage consumers and grow businesses.

Contact DMS

About the Author

An experienced content specialist with a dynamic skill set including news writing, graphic design and social media management, Joelle Beckett has established herself as an effective strategist in the world of digital marketing. At Digital Media Solutions (DMS), Joelle is a Content Manager, creating content for several DMS owned-and-operated websites and providing editorial, creative and technical support to team members. Joelle also researches, writes and edits in-depth articles weekly for DMS Insights, covering digital marketing trends, technology and innovative strategies for growth.

Previous Article
Rappers And Hip-Hop Artists Partner With Brands For Multichannel Marketing Activations
Rappers And Hip-Hop Artists Partner With Brands For Multichannel Marketing Activations

Many hip-hop stars and rappers have appeared in commercials and partnered with brands to promote a wide ran...

Next Article
As Live Sports Return To TV Screens, Digital Marketers Rev Up Campaign Efforts To Reach Fans
As Live Sports Return To TV Screens, Digital Marketers Rev Up Campaign Efforts To Reach Fans

Despite the uncertainty surrounding in-person events during the pandemic, marketers have found unique ways ...

 
× Streams
loading
×