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Enough clients ask about this to make it worth a post so, here is some info from Jason Glickman from a recent article in Video Insider Media Post:
If you believe the forecasters, 2010 will be the year of the long-awaited inflection point when TV budgets begin to shift to online video in a meaningful way. In 2009, advertisers were projected to spend $699 million on online video ads, an increase of 32% from the previous year, "outpacing growth rates for most other emerging media platforms," according to a forecast from Brian Wieser, Global Director of Forecasting for Magna. Jack Myers went further saying that online video advertising would increase by 115% to $968 million in 2009 and is forecasting it to be the fastest growing segment of the media industry through 2012, when it is expected to hit nearly $5 billion.
Some might call these forecasts bullish, but given the trends we are seeing at our company, such as significantly larger average campaign sizes, increases in video consumption, and creative/delivery standards becoming more widely adopted, we share this view.
With the right standards, processes, and tools in place, online video advertising can be highly efficient and effective, while providing more accountability than any other media platform.
However, we caution clients that the process is not as simple as "build it and they will come"
We hear over and over again, "we put a video on You Tube and it doesn't seem to have done anything." Well there are so many considerations these people seem unaware of. You wouldn't sink your promotional dollars into a broadcast campaign without clearly identifying your objectives and target market would you? Then there is the technical aspect, codecs etc. that all greatly affect the quality of the viewers experience. It's kind of like building a new brick and mortar store and then not putting a sign outside. Is it any wonder no one knows you are there?If you’re looking to craft a viral video, consider meeting at least one of these characteristics: identifiability, spontaneity, genuineness, humor, information, creativity, and inspiration. Ideally, if you cover ground on at least two of these traits, your video might have a good chance of success. To be sure, though, solicit help from a creative company that understands your marketing objectives before going ahead and blindly publishing a video. Remember, the content and quality is the public face of your company. You don't want to look like an amateur!
Some might call these forecasts bullish, but given the trends we are seeing at our company, such as significantly larger average campaign sizes, increases in video consumption, and creative/delivery standards becoming more widely adopted, we share this view.
With the right standards, processes, and tools in place, online video advertising can be highly efficient and effective, while providing more accountability than any other media platform.
However, we caution clients that the process is not as simple as "build it and they will come"
We hear over and over again, "we put a video on You Tube and it doesn't seem to have done anything." Well there are so many considerations these people seem unaware of. You wouldn't sink your promotional dollars into a broadcast campaign without clearly identifying your objectives and target market would you? Then there is the technical aspect, codecs etc. that all greatly affect the quality of the viewers experience. It's kind of like building a new brick and mortar store and then not putting a sign outside. Is it any wonder no one knows you are there?If you’re looking to craft a viral video, consider meeting at least one of these characteristics: identifiability, spontaneity, genuineness, humor, information, creativity, and inspiration. Ideally, if you cover ground on at least two of these traits, your video might have a good chance of success. To be sure, though, solicit help from a creative company that understands your marketing objectives before going ahead and blindly publishing a video. Remember, the content and quality is the public face of your company. You don't want to look like an amateur!
The bottom line is that the numbers don't Lie, You Tube has over 1 billion views a day. You are overlooking a huge cost effective opportunity by not utilizing online video. But, remember, do it right or it could hurt your public perception more than help!
Also, stay aware of cross promotion and campaign integration, these are some of the other critical components of online marketing success.
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