Online Video: Can it save advertising?

MediaPost - online video blogWe are currently in negotiations with a very large global company, inside of which are a very few brave souls trying to bring new media and new thinking into a well-established, well-rated company that moves at a molasses pace like most corporate behemoths. The product in play is online video. My ears and eyes are tuned in to conversations happening about how video “works.” So today’s post has three points made by others, including two from MediaPost (link has expired). I hope this client reads our blog!

*1: Online video is cheaper and longer lasting than traditional advertising methods*
From Bradley Inman, Maximizing Online Video In An Economic Downturn (link has expired)

As the word “recession” proliferates across the media, companies inevitably look to cut spending to stay competitive. However, in their hurry to get financially lean and mean, brands must not forget the importance of having a strong and dynamic online presence beyond a few pay-per-click text ads. One of the best (and cheapest) ways to meaningfully engage with potential and current customers is through online video. With the ubiquitous nature of Internet video, the ad industry has been slowly moving to the Web to meet the demand of a rising audience. According to recent research from comScore, 75% of Internet users watched online video in November 2007.

Knowing where and how to place the video, and capturing that sweet spot of attention? Still priceless.

2 Online video requires authenticity, production quality, and social media savvy to be succesful for business
From Gregory Wilson, In The Digital Age, Failure Will No Longer Be Lucrative (link has expired)

In the non-digital age, we knew that half of all the advertising that ran didn’t work…However, marketing on the Internet calls for a new approach to video – the development of very customized, engaging content that is authentic and relevant to the topics that the user has been searching for. No scripts or actors or clunky amateur videos, but real people telling stories about subjects they are passionate about.

Easier said than done department: finding the right mix of professionalism, authenticity, tech-savvy-ness, and concept execution is the biggest challenge for large companies right now, after they fight all the internal battles against “we’ve never done that” thinking. Once done though, your videos can play forever and ever for no additional fee, and at least for now, you get double ROI if you count the PR buzz you get from hitting a new media home run.

3 The tech gets better and better; you can now measure online advertising unlike anything ever before in traditional media
(Please refer back to point #1)
One of our favorite new companies now is Ooyala, who is offering what they term “user-initiated advertising.” Started by some ex-Googlers, it is a video hosting service that tracks percent of views along with built-in chapter markers and clickable embeds. These features give the content owner best available data tracking and the user maximum control over the viewing experience.

This are just three quick points being made. I’d love to hear what other points you would contribute to the discussion. It takes a village to help companies brave new territory, so your assistance is welcome in more ways than you can imagine.