First-of-its-kind study measured the financial impact of user-generated visual content and showed payback in less than one month
NEW YORK — June 7, 2017 — Olapic, an innovator in visual content solutions, today announced the findings of a study that analyzed the financial impact an organization experienced when deploying Olapic’s visual content marketing solution. The May 2017 Total Economic Impact™ (TEI) study commissioned by Olapic and conducted by Forrester Consulting, is a third-party analysis to quantify and validate the impact of user-generated content (UGC) in e-commerce and digital advertising environments. Results show Olapic delivered a 680 percent ROI and a 256 percent (3.6x) improvement in conversion rates with payback in less than one month for one of its retail customers.
To determine Olapic’s total economic impact, Forrester interviewed an existing multichannel specialty retail customer with at least six months of experience using the earned content platform for UGC collection, moderation and distribution.
The customer selected Olapic for its ability to build a scalable collection and permissioning process, function beyond automated image aggregation from social media sites, and tag products and keywords to specific images. These key differentiators have helped the interviewed customer to win, serve and retain customers.
“We had a vision of social and user-generated content, which was supported by the creative director and VP of marketing because it showed authentic audience content, and Olapic allowed us to achieve that vision in scale,” said the director of social media and digital content for the retailer.
The customer identified a number of benefits from the use of Olapic’s earned content solution. Highlights include:
- Cost Savings: content collection, moderation and user permissioning efficiencies resulted in a savings of nearly half a million dollars over three years.
- Conversion Rate Increase: 257 percent improvement on conversions in the ecommerce channel when shoppers interacted with UGC.
- Earned Content Performance: ads featuring UGC resulted in 15 percent more orders while also reducing the cost of acquisition by 11 percent. Thus, the earned content performance was assessed at more than $2.5 million in risk-adjusted value over three years.
“There are instances where UGC has worked so well that there’s now a ‘UGC first’ rule when selecting imagery for social ads,” continued the brand’s director.
“The advent of social commerce and the growing consumer distaste for aggressive marketing tactics has led many brands and advertisers to turn to user-generated content to connect and engage consumers,” said Pau Sabria, co-founder of Olapic. “I believe that the results of this TEI study validate that sentiment, and reinforce the power of Olapic’s platform to influence overall ROI through increased impressions, sales, average order value, click-through rates, total conversions and more. We look forward to continuing on this path of innovation to build consumer trust and inspire action at every touchpoint in the customer journey.”
Listen to our on-demand webinar featuring Forrester senior analyst Ryan Skinner and principal consultant Reggie Lau, talk through the methodology and findings of this research into more detail.
If you are interested in learning about how Olapic may be able to generate similar returns with its visual content platform for your brand, contact us for a platform demo today at www.olapic.com.
Olapic is the leading visual marketing platform for the curation, activation, and analysis of Earned Content. Olapic works with hundreds of global brands to amplify marketing and e-commerce channels with images and videos from real people, creating more personalized and powerful brand experiences. Olapic’s proprietary technology curates consumer photos and videos from a range of social media sites, identifies content that is most influential in driving engagement and conversion, permissions the content at scale, and then activates it across digital and offline channels, providing analytics on revenue, performance, and engagement. An official Facebook Marketing Partner, Instagram Partner, and Pinterest Marketing Developer Partner, Olapic is headquartered in New York City with offices in California, Cordoba, Argentina, the United Kingdom, France, and Germany. For more information on Olapic, visit www.olapic.com. Olapic is a wholly-owned subsidiary of Monotype Imaging Holdings, Inc. (Nasdaq: TYPE).