What is visual negotiation and how does ROVI demonstrate it?
As we approach the six-month milestone in the new world of digital customer experience, an often overlooked segment is more relevant than ever: visual commerce.
But what is visual negotiation? 3D images? Sell video calls? Visual commerce is more than just a tactic, it learns from proactive marketing departments, adapting to the new normal.
“The transition that people need to make in four years has happened in four months,” said Chris Beaudin, director of marketing for Atlatl Software, a visual trading platform. Now a drastic mental change is needed. Many large companies shake their heads and consider shoulders a priority. Now they have to catch up with them. ‘
Founded in 2013 as a supplier of CPQ software to the manufacturing industry, Atlatl quickly became a visual trading platform after identifying the market gap.
According to Atlatl:
• 93% of human communication is visual;
• People process images 60,000 times faster than other forms of communication; To be
• People remember 80% of what we see.
“Augmented reality and virtual reality have been around for a long time, but they always looked futuristic and were not useful for most companies,” said Beaudin. These companies prefer other marketing tactics, but if COVID were successful, they should have realized that they would have been in a much better position if they had given visual commerce a higher priority.
Visual negotiation definition
So, what is visual trading?
It can be as advanced as using a digital visual platform to sell a car where you can try different colors, interiors, seats, and even digital in your garage to see if it matches the color of your home. Or visual negotiation can be much easier and cheaper, such as determining the correct size, material, and shelf life of the elusive black cocktail for the Saturday meal.
Whether you’re selling cars or party dresses, there are three basic visualization steps to the negotiation process:
• Product display – product display;
• Visual configuration: change the options and;
• Augmented reality: view the product in your garage, living room, or with a matching pair of shoes
These are all subtle emotional ways to reach the buyer to influence the purchase. That’s your goal as a marketer, It’s digitally owned, so it’s clear they want to physically own it.
The buyer’s visual trading experience has shifted from three-dimensional images and generic aerial photos to a tech-savvy general audience, who are generally more interested in what they can’t see than what they can see.
“On the contrary, it is a shame for buyers,”. You want the buyer to choose the item during the selling process, rather than selling it. It makes a big difference. ‘
What is ROVI?
We all know ROI in business, but in the world of visual commerce, Atlatl and his colleagues speak in terms of ‘ROVI’, a return on visual investment. Visual risk business campaigns have significantly lower overheads as visual exhibits and integrated platforms can replace expensive sales and marketing. Also the importance of providing the same visual trading experience to a potential buyer, 24 hours a day, 7 days a week.
But who exactly practices the visual profession in the right way?
We found that B2B companies were more proactive in the space and made the transition much easier, The construction and manufacturing industry has led the way and is now paying off for ROVI and its results.
Beaudin’s ROVI estimate is a return of about ten times the initial investment. According to Atlatl, 85% of consumers are willing to pay more for a better experience once they physically enter or visually identify the item they want.
With all the tax uncertainties facing all industries, now is the time to dive into visual trading, Visual negotiation is synonymous with speed, accuracy, and experience. Initially, it is more difficult to manage, but in the long run, it improves the customer experience and expands its customer base.”