To maximize revenue from video delivery, operators must carefully consider every user interaction, from browsing to purchasing. Relying solely on a subscription-based model or advertising is insufficient. To boost income, operators need to offer valuable services and streamline the purchasing process.
Let’s examine the potential obstacles viewers might face when making a purchase:
#1 Fragmented Purchasing Process
Viewers often experience a cumbersome process, navigating through multiple screens and pages to complete each purchase. This disjointed experience can lead to frustration and abandonment, as each new selection requires starting the process anew, increasing the likelihood of losing interest or patience.
Picture this: a user finds a subscription they are interested in, only to be redirected to another page to finish their selection. Then, if they wish to explore additional content add-ons, it’s back to square one, navigating through yet another series of screens. Imagine the viewer’s frustration having to repeat this process every time they want to make a purchase.
#2 Missed Cross-Selling Opportunities
In the absence of a unified purchasing interface, opportunities to present related products or services during the transaction process are limited. This often results in missed revenue from potential add-ons or upgrades that customers are unaware of during their purchasing journey.
#3 Limited User Engagement
A complex or unintuitive purchasing process can deter viewers from completing transactions, leading to lower conversion rates and diminished user interaction with the platform. This friction can discourage engagement and affect overall satisfaction and loyalty.
#4 Lack of Insights
Without a centralized system to track user interactions and purchases, OTT operators have limited visibility into the preferences and behaviors of their audience. This makes it challenging to optimize marketing efforts and tailor offerings to meet user demands effectively.
Introducing the Shopping Cart as the Solution to Ensure a Frictionless Purchase Experience
As operators ourselves, we’ve gone through the obstacles described above and created the Shopping Cart solution to bypass them. We receive first-hand consumer insights into their needs and empower operators with a solution to meet them. Our Shopping Cart module is designed to streamline the purchasing process and enhance the user experience along the way.
Shopping Cart
Our Shopping Cart module provides:
#1 Increased Revenue Opportunities
The Shopping Cart enables operators to upsell and cross-sell additional products or services, increasing revenue through impulse purchases and add-on sales. It allows operators to showcase complementary products or services to users during the checkout process. Additionally, the shoppable video software highlights limited-time promotions, discounts, or bundle deals, encouraging impulse purchases.
#2 Improved User Experience
By providing a seamless and intuitive shopping experience, the Shopping Cart enhances user satisfaction and loyalty, encouraging repeat purchases and engagement with the platform.
Users can add items to their cart easily and proceed to checkout with minimal friction, creating a more positive and enjoyable shopping experience.
#3 Enhanced Analytics and Insights
Shopping Cart data provides valuable insights into user behavior, preferences, and purchase patterns, allowing operators to optimize their marketing strategies, pricing models, and product offerings. Integrated with Nora Middleware analytics and Google Analytics, the Shopping Cart enables operators to track every step users take. Monitoring item selection, form completion, device usage, and other parameters helps operators understand the purchasing process and enhance offerings based on first-hand data.
Operators can identify trending titles or subscriptions that resonate with their audience by leveraging analytics data. This allows them to tailor their offerings to better align with user preferences, increasing engagement and satisfaction.
Nora 3.0 Shopping Cart Module
With the Shopping Cart module in Nora 3.0, operators gain access to a powerful tool that enhances user experience and boosts revenue potential within their video streaming platforms. The Shopping Cart enables seamless and intuitive shopping experiences, allowing users to easily browse, select, and purchase content. It minimizes friction and enhances user satisfaction, ultimately driving higher conversion rates and increasing revenue.
Shopping Cart
Find out more information about Nora 3.0.
Download the Nora 3.0 spec sheet.
