NowDiscover GmbH, a unique content recommendation engine built to bridge the gap between video content and e-commerce/retail, has formally launched into market. Following successful customer trials and rapid team expansion, the platform, which tailors video content into product websites to increase sales, is now accessible to businesses worldwide in Beta. NowDiscover parses product data from any online store before scouring YouTube for videos that are likely to help consumers reach their purchasing decision and automatically integrates these videos directly into e-merchant’s site. The platform has proven to boost sales and saves both e-merchants and consumers time by delivering informative tutorials, branded, unboxing and review videos via a proprietary player at the crucial moment in the shopping journey.
NowDiscover is the only UK start-up to receive initial funding through the Investment Bank Berlin (IBB) and the company is currently seeking additional funding for global expansion and further product development. The company is based in Berlin and was founded by UK entrepreneurs Ashley Harris and Vishal Kawatra, veterans of the video content and marketing technology space along with Co-founder and Professor of Computer Science, Sebastian Bab who has provided guidance around machine learning and AI potential to improve the customer shopping journey. Industry expert analysts anticipate the potential for market growth in this area to be significant. Jill Finger-Gibson, Principal Analyst at Digital Clarity Group, believes: “In a world where Etailors and brands have to compete with the powerhouses like Amazon, this type of technology could provide a real competitive advantage.”
How it works:
Parsing – The platform identifies products on a page and analyses the data feed.
Curation – The platform finds relevant product review, tutorial, branded and unboxing videos from YouTube.
Moderation – Control by the e-merchant over which videos go along side the product.
Integration – NowDiscover classifies the content by type before stitching the product video into the e-merchants page, with a proprietary video player and easy to see labels.
Content – Scoring NowDiscover learns which videos drive the most sales and makes intelligent recommendations.
Commenting on the launch, Co-founder Vishal Kawatra, said: “NowDiscover bridges the gap between content and e-commerce, giving the shopper the video experience they want. The increased amount of video content across online platforms has left consumers wanting richer more immersive experiences before they buy. NowDiscover satiates consumer desire for authentic as well as branded product videos to inform purchase decisions. We deliver the right video, at the right time and place to drive product sales, ultimately accelerating the sales funnel for the e-merchant and improving the customer experience. Forrester research suggest consumers require an average of 11.4 pieces of content before purchasing. We’re only scratching the surface of how to harness this content effectively but with machine learning and more powerful iterations of the platform, we’ll soon be able to provide a tailored menu of content in various forms, video, imagery and text that provides the customer with all the information they could want, without leaving the merchants site.”
Rob Bamforth, Principal Analyst at Quocirca, the business and IT advisory company, also commented on the launch of NowDiscover, predicting the broader use cases for this type of technology. He said: “As video continues to spread across an increasing number of platforms, scenarios and communications channels, the need for intelligent curation and recommendation of content grows. The convergence of live chat and real-time video exchange to improve user experience creates both an opportunity and a challenge for technologists and marketers. This type of video technology is very interesting for enhancing customer shopping experiences but it also paves the way for other guided internet journeys beyond consumer actions, across all online behaviour, from politics to healthcare.”
E-merchants looking to harness the power of video to drive sales can sign up for free to the NowDiscover BETA platform right HERE. Be sure to let us know what you think if you've had chance to use it in the comments below.