Marketers Take Note: Online Video is on the Rise
By Michelle Richard, Co-Owner Coalesce, Inc.
Originally printed August 27, 2007 in the MarketSmart Column of the Appleton Post-Crescent
One in five Internet-using adults routinely view Web video commercials, and experts predict online video advertising to triple in the next three years alone – making it one of the fastest growing marketing mediums.
This explosive category growth presents tremendous advertising opportunities to connect with an engaged online target audience – and both consumer and business-to-business marketers stand to gain when engaging this trend.
Why Online Video Advertising?: While television viewers are relaxed and passive, Internet users are engaged and ready to take action. This is a key reason why consumer marketers are adding video to the marketing mix: Web site banner clips, stand alone video ads posted on targeted sites and commercials that appear within downloadable movies or television programs are all examples.
These clips typically deliver a strong call-to-action and are effective clutter-busters, so it’s no wonder that research reveals an astounding 40 percent of online video viewers click accompanying links or visit Web sites mentioned in the video ad.
Web site tailored creativity is also key to enlisting visitor follow-through. Advertisers are moving outside-the-box to deliver strong, storytelling and entertaining clips. And their extra efforts are paying off – viewers who like what they see will not only take action, but in the big, ever growing blogoshpere where word-of-mouth is especially powerful, they will spread the word.
A large percentage of current online video advertising viewers are considered “key influencers,” controlling blogs and message boards. With a quick click of their mouse to recommend a video or product, they can point thousands of people to your brand.
For example, a humorous McDonald’s commercial, posted on the YouTube video sharing site, featuring two men rapping about chicken McNuggets caught consumer attention – with the power of the Internet more than 152,000 attentive viewers have already tuned in.
While the fun, interactive style is one benefit of online video – cost is another. Internet video advertising is relatively inexpensive when compared to the cost of producing a traditional TV commercial and securing airtime.
Picturesque Trends: Online video marketing is not only catching direct-to-consumer attention; business-to-business marketers also find tremendous value in utilizing videos on the Web.
B2B companies use online video for everything from driving public relations efforts to supporting internal sales. Product demonstrations, executive speeches, interviews with product managers and excerpts from ad campaigns top the list, with clips ranging in length from 30 seconds to five or 10 minutes.
It’s important to experiment with a variety of topics and video lengths to find a fitting niche.
A small cluster of companies are also turning to online video in a crisis. Picture a corporate Web site as a real-time communication hub for media information during a corporate emergency – or even an innovative new product launch.
Videos of CEO messages with virtual distribution on a global scale ignite conversations – and companies are able to gauge reaction with accompanying message boards and respond accordingly. Expect this trend to grow in the near future.
Staying Ahead of the Video Curve: Given the rapid growth of broadband, look for online videos to become as common as written news articles.
You can also expect highly creative clips to continue blurring the line between entertainment and advertising.
But, there’s no need to jump into this medium head-first. Gradually adding online video into your marketing mix will give you time to dabble in the “where” and “what message” to most effectively reach your target audience – allowing you to observe measurable results and adjust your campaign accordingly.
Shifting a small amount of the marketing budget now will pay off big later, positioning your marketing team well ahead of the steep technology curve ahead.