Marketing with Streaming Video
Are you using video effectively to communicate messages on your web site? Are your advertisements amusing, entertaining, and educational enough that consumers are compelled to share them? Audio and video can be broadcast by the Internet, cell phones, and personal mobile devices. Harnessing this media can give you a voice and breathe life into your message.
Streaming Video Demographics
* Internet users in the United States watched an average of 39.4 online video streams per month in 2005, delivering more than 44 billion video streams. (1)
* In 2006, the average rose to 67.4 streams per month, delivering more than 86 billion video streams. (1)
* The average length of the video streams decreased from 2.2 minutes in 2005, to 1.5 minutes in 2006. (1)
* 5-10% of the video clips were supported by advertising or purchased. (1)
* By 2011, it is estimated that 71% of the U.S. population will have broadband access. With this, it is predicted that average length of video will increase to 8 minutes or more. This suggested increase is supported by the rapidly rising amount of download-to-own content, a trend that is being lead by iTunes. iTunes customers downloaded 42 million TV shows and 1.3 million movies in 2006, generating $105 million revenue in the US Market alone. (1)
(1) Statistics based on research by the Yankee Group
HBO, Showtime, and Starz Encore control the electronic subscription rights to feature films from the major studies for the next three to eight years. While this creates barriers for other providers to offer feature films, it also creates new opportunity for independent films, user generated content, and an enormous demand for artists and entertainers to provide content. While the battle for feature films rages in the format war between Blu-ray and HD DVD, consumers will have a much wider variety of music, videos, audio books, and entertainment alternatives on the Internet and personal mobile devices.
* 69% of consumers over the age of 35 are watching video online
* 31% of people between ages 18 and 34 are watching video online
* 45% of online viewing occurs in the evening
* 95% of the online viewing experience takes place at home, with only 4% of the online viewing at work, and only 1% at schools or universities
* The most popular content for online video viewing is news clips, movie trailers, music videos, and sports clips
* Consumers between the ages of 18 and 34 watch more user generated content, less news, and more music videos or TV shows
* 62% of people viewing news clips age 35 and older
* 42% of consumers have forwarded video or link to a video by email
* Consumers are 8% more likely to watch a 15 second advertisement than a 30 second ad
In 2006, 20% of consumers surveyed indicated that online video viewing cut into the normal time spent watching TV. By the first half of 2007, this increased to 27%. With writers on strike, television shows cancelled or in reruns, and with the anticipation of content generated as a result of elections in 2008, it is highly likely that viewers will flock to Internet video for bite size news clips and a variety of fresh entertainment on demand. Are you poised for your position in this rush for content and rich media?
Video Advertising Online
Currently there are three prevalent approaches to maximize online advertising opportunities.
(1) Pay for advertising placement with a short 15 to 30 second advertising trailer delivered in conjunction with news clips, sports clips, or other mainstream content. This is akin to commercials on television. It is a way to get a consistent message to the masses, but it lacks precision in providing meaningful content to a motivated audience. This is like offering a glass of water to a crowd in an effort to find out if anyone is thirsty. The cost of entry and return on investment for this strategy are prohibitive.
(2) Video advertisements strategically embedded on your own web site can be very targeted and meaningful, especially if the message includes interesting or relevant information related to the subject on the page. This presumes that the web site has multiple pages with a variety of topics, thereby enabling focused communications. It is reasonable to presume that the consumer searched for the site and is interested in the content, so it is appropriate to offer streaming video that relates to the content on the page.
(3) Viral marketing can be achieved with online video content that is so entertaining or informative that the consumer is compelled to share a link to the video with friends, family, or colleagues by email. When this occurs, your message, advertisement or logo is spread to other potential consumers that you may not have been able to reach by your own direct advertising effort. Make it easy for consumers to send an email with a link back to video hosted on your web site. It is best practice to also list your URL in the advertisement.
Video Training Online
Online video training offers a refreshing approach to provide targeted and topical educational material that can be delivered at the pace and convenience of the viewer. Online video training is an excellent solution to offer content to new employees, create a library of reference materials for existing personnel, and empower continuous skill-based development. Video training is used effectively to communicate information to field personnel, office staff, and students in a virtual classroom.
Video training is also being used for cost avoidance and to enhance customer satisfaction. Imagine taking your top ten customer service related topics and creating short informational video vignettes to entertain your customers. Rather than wait on hold for twelve minutes to speak to a customer service representative over the phone, consumers can watch a one to two minute video with images, audio, and action to demonstrate the most common solutions. Using online video, it is possible to use both audio and video to illustrate or demonstrate important points, and quite often this can be more effective than trying to describe images or activities over the phone. When done properly, such relevant educational videos become a subtle form of positive advertising and brand recognition.
Getting Personal
Streaming video is not just for computers anymore. Online video, news, music, sports, and television shows are already prevalent with cell phones and personal mobile devices. As devices, displays, and connectivity continue to evolve, this form of personal entertainment will continue to gain market-share and mind-share. It is quite likely that the demand for wireless content to personal mobile devices will outpace the demand for broadband by 2015. Understanding demographics, content, and format will be critical for your message to be delivered in the new media.
Your target audience is far more likely watch an interesting video clip forwarded from a friend, than to read unsolicited bulk email, or to proactively search for your advertisements on the Internet. When a consumer does find you, treat them to rich media full of educational or entertaining content. Schedule some time in the next three months to create or revise your marketing communications strategy. Plan to adjust and evolve with streaming video, or watch the next wave pass you by as simple text is quickly relegated to the status of cave drawings.
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Words of Wisdom
"pixel, n.: A mischievous, magical spirit associated with screen
displays. The computer industry has frequently borrowed from
mythology: Witness the sprites in computer graphics, the demons in
artificial intelligence, and the trolls in the marketing
department."
- Jeff Meyer
"Advertising may be described as the science of arresting the
human intelligence long enough to get money from it."
- Stephen Leacock
"The vice-president of an advertising agency is a bit of
executive fungus that forms on a desk that has been exposed to
conference."
- Fred Allen
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About the Author:
John Mehrmann is a freelance writer and President of
Executive Blueprints Inc., an organization devoted to improving
business practices and developing human capital.
www.ExecutiveBlueprints.com provides resource materials for
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