Get Ahead of the Online Video Wave

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tube_smallADOTAS – The online video industry has big expectations to meet in the next few years. Take, for example, a report Cisco recently released that expects Internet video to account for 91 percent of all consumer Internet traffic by 2014. In addition, eMarketer forecasts revenue from mobile video services to double in the next few years — from $548 million this year to $1.34 billion in 2014. These numbers can seem daunting when compared with the projected growth of other online or offline content models.

This tidal change is already providing marketers with the opportunity for deeper engagement, broader reach and stronger customer relationships. And, if agencies and advertisers get ahead of the wave now, they’ll be light-years ahead of their competitors when online video reaches its full potential. But agencies will be left behind if they don’t start tapping into new opportunities now to get ahead of the video curve.

Now’s the time to create engaging brand campaigns that resonate with consumers and break through the noise. Here are five of the best ways marketers are currently using online video.

Lifestyle Product Placement: Just as product placement has existed in movies and TV for years, online video is ripe with similar opportunities. When advertisers present information in context, they enable viewers to enjoy truly immersive experiences with content and foster longer viewing times. Examples: A|X TV and Swatch.TV

Interactivity and Engagement: Simply put, no standard television can replicate the power of online video’s interactivity to create dynamic video experiences for deep viewer engagement – essential for building community around a brand. Examples: Monster Energy Drink and NRDC

Participation and Social Virality: Creating participatory ad campaigns across websites and social networks is one of the best ways to establish lasting bonds with consumers. Advertisers should enable fans to breathe new life into products and implement memorable ad campaigns using Moderated UGC. Get personal with authentic, first-person accounts about your brand. Examples: HomeAway, Marmite and Simon & Schuster

Contests: Everyone loves healthy competition. Video can be used to drive online contests that create buzz and drive viral fan participation while also building on a brand promise or campaign theme. Example: Oprah

Differentiation & Extended Reach: Today’s viewers expect the ability to access content across websites, social networks and mobile devices. To differentiate from the competition, innovative agencies need to deliver content to new devices such as the iPhone or iPad to take advantage of the new touch-driven experiences they enable. Examples: MTV and VH1

What can agencies do now to quickly establish digital video experiences that allow them to connect with their audience wherever, whenever? Here are five suggestions:

1) For engaging video experiences on your website, look for player templates that offer a wide range of configuration and branding options, plus support interactivity such as multimedia chat, comments, ratings, and moderated UGC.

2) To quickly establish mobile video apps, find configuration frameworks that allow you to focus on great user experiences, as opposed to media optimization, complex communication protocols or the need to build server-side components

3) For adding engaging video experiences to existing mobile applications, look for a solution that offers an SDK that takes care of optimize application performance via binary communications APIs.

4) To connect with the vibrant Facebook community and leverage its full revenue potential, establish a viral video implementation that enables in-line video playback as well as a branded canvas page with a player that supports ads and engagement functionality.

5) With the huge success and continued growth of the iPhone, iPod Touch, and iPad, make sure you supporting mobile browsing not only for Flash-enabled smartphones, but also for HTML5-based video that can be played on Apple iOS devices.

According to eMarketer, 28% of consumers visited an advertised brand or product’s website after viewing a high engagement video. We know it works and as long as there are technology advancements and demand from consumers for more video, the potential for video will continue to grow.

These are just a few ways our customers have seen success so far. What are some interesting examples you’ve seen for how brands are using video?

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