Project description
Automated video production for better marketing
The rapid global growth of e-commerce is a result of the increased use of online video marketing. Videos can make messages up to 85 % more attractive for users, especially when interactive tools enable involvement and activity. The EU-funded Phyron project aims to automate video production using a software as a service (SaaS) model as well as artificial intelligence and machine learning technology. It automatically delivers an exceptional video for each product at a highly competitive price with real-time production, high click-through and conversion rates, deep engagement, great brand impact and more shared content. Scalable for future improvements, it guarantees an increase in customer satisfaction and cost-efficiency for marketing.
Objective
If a picture is worth a thousand words, a product video could very well be worth a thousand sales. Considering that video now appears in 70% of the top 100 search results listings, and that viewers are anywhere from 64-85% more likely to buy after watching a product video – this is one marketing force you can’t afford to ignore.
Much of the global digital marketing spending market’s growth can be attributed to the fact that videos are interactive for users. Since the customer engagement rate of these campaigns is relatively higher than other marketing strategies, they are rapidly being adopted by e-commerce businesses globally to increase their customer bases. It is estimated, that using videos on landing pages dramatically increases conversion rates by a whopping 80% thus maximizing the benefits for customers and buyers.
Phyron is the first global player to have developed an e-commerce video marketing solution to automatically produce tailor made interactive, dynamic content based on each product`s data. The company’s proprietary technology- Phyron is based on software as a service (SaaS) model and uses AI and machine learning technology to collect the available product data, produce a template and automatically deliver the unique video for each product. And all this for a fraction of competitor`s price.
To date, the technology has been validated at three sites which has demonstrated its robustness with positive results. There is a working platform and up to 10 paying customers already. What is missing is an advanced machine learning function and demonstration of the commercial viability of the technology in full-scale e-commerce operations. The aim of this project is to develop a detailed business plan and explore the further markets for global scalability.
Fields of science
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
118 25 STOCKHOLM
Sweden
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.