Webinar “Increasing online conversion by reducing psychological distance”

In today’s crowded online marketplace, we all face the same challenge: how do we attract and convert shoppers?

While increased media spend is an almost guaranteed way of attracting more people to an online platform, getting them to actually buy is a whole different ball game. Many online retail giants aren’t forthcoming with behavioral data, so knowing how visitors think and behave from the time they land on the platform until they check out in these “walled gardens,” is a blind spot for many of us.

Tapping into consumer psychology can be one way to tackle this challenge. Our psychological distance theory can help find ways to drive online conversion.

We believe that by applying this theory to product images you can lower the psychological distance between the consumer and the brand, and drive conversion as a result.

Psychological theory in action – what you’ll learn in this webinar:

Presenter: Paul Janssen, VP Brand Communication

We recently put our theory to the test by teaming up with Qoo10, a leading eCommerce site in Asia, and Singapore’s #1 online shopping destination.  Watch this webinar to see the results of the experiment and learn how you can apply our theory to optimize your eCommerce strategy.

In this webinar, you will:

• Learn how our psychological distance theory can help drive conversion online
• Discover how together with Qoo10, we significantly increased click-through & add-to-basket rates
• Receive tips on how product images can be enriched with sensorial cues to reduce the gap between online shoppers and your brand
• See how realistically replicating eCommerce environments can uncover behavioral data to better inform your digital content strategies

It was very shocking to me that when you start to actually invest in the image quality, there was a huge improvement in sales,” Cho said after seeing the real-world results. “Under the old paradigm we focused on media spend while under the new paradigm, we focus on the thumbnail [product] images to actually increase the outcomes of the ad campaigns. With the same amount of ad spending, we could easily see 2 – 3 times more conversion.”

— Hyunwook Cho, founding member of Qoo10