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Engage via Video
Internet Marketing via Video - The Future of Internet Marketing
via Video
- Engage via Video -
by Jeanne Mayeux
by Jeanne Mayeux
Internet Marketing via Video - The Future of Internet Marketing
by Jeanne Mayeux
“The gatekeepers have lost their power, and content producers have a never-before-seen opportunity to get their voice out and build brand equity. The cost of entry is now zero. Because it’s so cheap to get in, anyone can succeed as long as they’re willing to put in the sweat equity necessary to get themselves out there." (Gary-Vaynerchuk, http://tv.winelibrary.com)
The Internet is like the Wild West when homesteading meant you could take land for free just as long as you developed it. Well, the same goes for the Internet. Those who stake out their territory will be in the best position to profit from it in the future. And online video is part of that territory.
“We look at our Web business as a gold rush and it’s all out there for the taking . And the marketer that’s there first with great solutions and a Web site that’s easy to get in and out of is the one that’s going to win.” Bob Kraut, VP Marketing Communications, Pizza Hut, Inc (AdAge Digital Conference, 4/8/09)
There is no better way to engage an audience than video. Eye tracking studies (Jakob Neilson, useit.com) reveal that Internet users are skimming most Internet text, reading only 20% on an average page yet focus much longer on video.
Statistics reveal that 65% of people are visual learners and 30% of people are auditory learners. (Neil Fleming) So if you do the math, 65 + 30 = 95 then that pretty much covers everyone. Video is the best way to communicate with these types of learners. Here’s a bunch of facts and figures from the Neilsen 2009 Video Census (try not to skim it):
“The audience growth and engagement quotient of online video is forcing marketers to positively re-assess the value of the online experience… Regarding engagement, Nielsen IAG data indicate that the advertising impact of the Internet can add 15 points of lift above TV in terms of brand recall and 18 points of lift in message recall. So, not only is the Internet adding incremental reach to a TV media buy, but it is also creating significant additional effectiveness. Audience numbers for the last five years, video audiences have been growing at meteoric rates, surpassing e-mail audiences… From February 2008 to February 2009, the viewers of online videos grew 10%, the number of streams grew 41%, the streams per user grew 27% and the total minutes engaged with online video grew 71%.” (Nielsen Video Census, 2/2009)
Internet users want to be educated or entertained. They no longer tolerate broad stroke “in your face advertising”. Consumers appreciate companies that get to the point efficiently and clearly. You’re building trust when you delivering a relevant and informative message to exactly who wants to hear it.
“People are seeking out the new and the useful. This is the audience that doesn’t need to be interrupted because they are already listening.” (Seth Godin, Purple Cow)
Internet marketing via Video is the best way to increase user engagement, which leads to increased conversions. "Online video is the number one priority among all online marketing tools for 2010, and that finding directly ties into the high satisfaction levels for video implementation and its return on investment." (Rosenthal, TurnHere.com 2009)
Although lately, the buzz has been all about social media; it’s really online video that is taking over the web right now. Also no one has quite figured out how to monetize social media.
More Facts and Figures for Marketing via Video:
- Online video is the top marketing priority for 2010, edging out both email and search marketing.
- Companies are experimenting across a wide range of video marketing: 57% have created branded video; 40% have used video for product or service demos, and 37% for customer or employee testimonials.
- Branded content is the preferred online video type with the highest use among all video formats, the highest overall satisfaction levels and the highest likelihood of future use.
- The top reasons for video include: branding (60%), exposure on sites like YouTube (54.7%), and viral content (48%).
- Professionally produced content was overwhelmingly favored over user generated.
- 83.5% of respondents are already using online video in their marketing efforts in one form or another.
- 90.7% of respondents are likely or highly likely to use online video in their marketing efforts in the next 12 months
The survey was conducted throughout the third quarter of 2009, and included respondents from Fortune 500 companies, as well as regional brands, PR and traditional agencies. Surveyed companies had annual marketing budgets ranging from $100,000 to $5 million. (TurnHere's report is available here.)
MediaPost.com’s Predictions for Advertising via Video in 2010:
The traditional advertising market will shrink for several years. The projected aggregate advertising spend in 2014 will be smaller than what was spent in 2008. Internet advertising will increase from 8% in 2009 to 22% in 2010. Total media spending (television, radio and print) will decline 14.5% in 2009. Video will migrate to the Internet. Cable and satellite networks are evolutionary dead-ends that cannot hope to match the innovative pace enabled by the Internet. An estimated 10 million Americans watch Internet video on TV monitors via computers. Product promotion will replace product advertising. The Internet will redefine product promotions to fit into a larger context.
Conclusion
Businesses are becoming aware of the value of marketing via Video on the Internet. So, make sure you stake out your marketing territory via Video.
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