Jumping into Online Video
Filed under: Advertising, Affiliate Marketing, Business Models, Internet Marketing Tactics, Provo Labs Companies, Video
I wrote an article for Connect Magazine’s September issue about skating to where the puck is going, not to where it has been, and I specifically addressed online video. I encourage companies to rush into online video, to take advantage of this new trend, and gain a competitive advantage by being an early adopter.
There are so many ways to take advantage of the low cost of producing and distributing online video: marketing, PR, training, recruiting. The conversion rate of video can be much, much higher than of traditional online text or banner ads.
Yesterday at the Provo Labs open house, one of my friends told me that Current TV — the cable TV channel that plays only user generated content — is now paying producers of video content. Current uses its web site so internet users can vote on the best video segments. Then the company plays the best ones on its cable TV channel. This is a remarkable business model!
A couple months back Revenue Magazine had an excellent article written by its publisher about how affiliates are starting to use online video to increase conversion rates. That is the trend 10Speed Media is trying to lead.
It works! This past week 10Speed Media launched several test campaigns and achieved an overall result that thrilled me. Our team met yesterday and decided how our test campaign results are going to affect our strategy moving forward. The results suggest we should launch more campaigns (I think we have 35 more planned) so that we can determine which industries and merchants to focus on first.
Last week, a MarketingVOX article reported that at OMMA a panel of advertising executives agreed that 15 second online video advertisements are most effective.
Today, a press release reported on a survey of more than 2,000 consumers, which among other things explored the length of video advertisements they are willing to endure based on the size of the screen they are watching: cell phone, iPod, computer, vs. television. Here’s an excerpt.
For the first time consumer receptiveness to advertising by device and screen size was explored. Applicants were asked what the maximum length of an advertisement they