Online Video Marketing: Why Video, Why Now?

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In a recent Target Marketing webinar sponsored by Act-On Software, the Online Marketing Deep Dive blog’s Perry Alexander and Gary Hennerberg discussed how businesses can deploy online video for effective direct marketing.

Why Video, Why Now?

online-video-advertising
According to Perry, there are a number of reasons why marketers should be using video today, including advances in technology. Today, a “bigger tube” enables efficient delivery of streaming video online when your consumers want it – not just when it is pushed to them.

Statistics that support the explosive growth of video include:

  • 188 million US Internet users watched 37.7 billion online content videos in August 2012
  • 9.5 billion video ads viewed in August, accounting for 20.1% of all videos viewed
  • 0.4 minutes: the duration of the average video ad (as opposed to a content video. Source: ComScore)
  • 6.7 minutes: duration of the average online content video

According to Perry, the growth in popularity of mobile has also contributed to the increase in consumption of video.

  • Apple’s March 2012 release of iPad 3 resulted in “video watched” increasing 26% (Ooyala Q1 2012 Global Video Index Report)
  • Mobile and tablet shoppers are 3 times more likely to view a video than laptop or desktop users (Invodo)
  • Tablet owners have the highest value per transaction at $125 average sales (Forbes)
  • 53% of tablet users watch a video monthly, with 10% watching daily

And here are even more statistics to support why marketers should consider the use of online video:

  • Consumers who watch product videos are 85% more likely to buy products (Internet Retailer)
  • Video is 53 times more likely to generate a first page Google ranking (Forrester)
  • An online press release with a video will have a 77% increase in views (PRNewswire)

As Perry mentions, video is also very relevant for B2B companies. According to a Forbes Insight Study, 59% of C-Level decision makers prefer online video to reading text because “it helps them make deeper connections with your company and better understand your product/service, team and value propositions.”

 

Components for Success: Offer, List and Creative Strategies 

As Gary explains, in classic direct marketing, the offer contributes to around 40% of the success of a program, the list contributes to around 40%, and creative contributes to 20%. This is a common formula used by direct marketers.

Similarly, in the new online video world, offer, distribution, and creative can be evaluated as components for success. Classic direct marketing offers apply to video, but innovative distribution and creative provide new ways for marketers to make a greater impact with video.

Aspects of video distribution include:

  • Your list/”tribe” – This includes postal and email, as well as followers on social media.
  • Shared media – Similar to “friend-get-a-friend” offers in direct marketing, shared media involves the use of social media share buttons and the concept of encouraging viewers to comment and share on social networks.
  • Owned media – This includes your organization’s website, blog, and online press releases. Owned media can also include integrated campaigns with your organization’s brick and mortar store.
  • Organic discovery – Optimizing videos to be discovered in search involves including keywords and key phrases as part of your file name, titles and description.
  • Earned media – Video views can be earned through trusted connections, so long as your video is designed to appeal to viewers within the target audience.
  • Paid media –Paid media can involve purchasing views and online advertising.
  • Retargeting – Retargeting allows your video to appear on other websites or in front of users who have previously searched a keyword, key phrase or competitor’s brand name.

When it comes to video, creative has the ability to display your brand’s personality. You can select the appropriate style, flow, and pace for your video. According to Perry and Gary, video gives you unique control of the “buy now” button, especially if your video exists on its own landing page.

 

Interested in taking a deeper dive into online video marketing? Make sure to check out the complete Target Marketing webinar, “Online Video Marketing: Offer, List and Creative Strategies That Take You From Good to Great.”

 

Is your organization using online video marketing? What is your biggest challenge? Share with us by leaving a comment below. 

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  • http://www.i-want-to-know-marketing.com Paul Profitt

    Hello Friend,I could not agree with you more about the value of video marketing. As a matter of fact my latest blog post is about the same subject.

    I have no doubt that video marketing will continue to grow for many years to come.