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Stepping Into the Video Era
Our industry is constantly changing to keep up with, engage, persuade and satisfy the consumer. In order to stay ahead of the game, it is absolutely imperative to stay on top of the latest consumer trends.
Video Web sites are garnering more and more attention, and the popularity of video Web sites will only continue to grow from these early stages of development as more people realize how to monetize it. The innovative advertisers would do well to respond and create inventive ways to incorporate online videos.
The Growth of Online Video and Its Effects
According to Chris Gokiert, COO of the interactive agency, Web design and development firm Critical Mass, the popularity of online videos is largely due to the growing application of broadband. As a result, video streaming is faster and more accessible, extending an advertiser's reach to more consumers. AOL's Advertising.com surveyed consumers over the age of 18 and found 66% view streaming videos at least once a week, the most popular content being news and entertainment. Specifically for affiliate marketing, video ads translated to a range of four to seven times the click through rate of static visuals in 2006 alone (eMarketer). The same survey by Advertising.com found online ads were preferred over television commercials because of their shorter length. End play rates for 15 second ads were 20% higher than the traditional 30 second spots. Moreover, unlike television online video appeals to consumers because it allows them to actively search for information on the products they desire. Online ads are still in the early stages of development, and consumer demand will ultimately shape the format. But research clearly indicates a growing trend. By 2010, eMarketer predicts 10% of funding for Internet advertising will be devoted to video ads. Advertisers must take advantage of online videos and optimize their appeal and functionality in order to stay connected to their consumers.
Videos are the New Blogs
When blogs first exploded on the Web 2.0 scene, they wore many hats including merchant, marketing vehicle, consumer research venue and PR tool. Video offers a more explicit and efficient method for all these roles. By supplying more information in a brief amount of time, general consumer appeal can be engaged quicker than in text form. Branding can be done in a far more accurate manner when a visual image is conveyed. This allows for the personality and a clearer voice of the corporation and industry to shine through. Products can be demonstrated simultaneously while various features are highlighted with audio narrative, increasing visibility.
Like a blog, videos can be used to encourage consumer feedback. Additionally, videos combine a blog's ability to be measured with the emotional impact of television, as noted by David Jacobs, SVP of publisher services for Advertising.com. This produces statistics on ROI and gives advertisers a calculation of how effective each of their ads are. When consumers are given the opportunity to respond through video, their comments can help advertisers to better relate to their consumers.
A study conducted by Forrester Research Inc. found that user-generated video reviews provide a forum for effective communication between the consumer and advertiser regarding product and brand perceptions. Included in their study titled "Five Ways Social Computing Can Boost eBusiness" was a case study of General Motors Corp. They had invited consumers to create an online video ad for the gas guzzling Chevy Tahoe truck. The overwhelmingly negative response was fueled by environmentally conscious consumers, and the customer-generated video was circulated all over the Web. Rather than being fazed by the negative feedback, GM saw this as a venue for market demand. Due to this direct input from the consumer, GM is currently pursuing development on greener vehicles with better gas mileage. To avoid the online damage control GM experienced, make sure to have someone from your company monitor the postings as the thread administrator. It is of utmost importance that adequate staffing is allocated to control the potentially negative press. If allowing original content from your clients poses too great of a risk, other alternatives are available.
Incorporating Video Content into Your Affiliate Marketing Program
Online videos are a great way to captivate consumers while providing information about your product. There are multiple ways to include online video ads in your affiliate marketing program. The most obvious solution to introducing video content is to utilize videos already hosted on a Web site. Simply have links placed at the beginning or end of the shorts and watch your traffic increase. The most persuasive method to utilize online video ads would be to create your own content. Creating your own video ads allows a far more creative medium to portray your brand, and more importantly it gives you control over the content of the video. And who better to provide insightful information about your products? This can be anything from a homemade film hosted on Qoof.com to a professionally made video created with Microsoft adLab's Video Hyperlink. This interactive tool incorporates even more information into online videos. As the ad plays, a green arrow will intermittently appear in the bottom right corner. When prompted by the icon, the consumer simply clicks on a product featured in the video to find out more information. Links can also be placed within the ad to conveniently take the viewer to the appropriate page in order to purchase the product online. Retailer Kohls.com is the first to employ this technology. Click here to view an example of Video Hyperlink.
Is Your Company Ready for Video Ads?
The shift from text ads to video has already begun. Is your company prepared to make the transition? Are your publishers ready? If you have an account management team, ask them to reach out to publishers for feedback, or you can reach out to publishers directly via the CJ Account Manager - most publishers include their contact information on their Publisher Detail Page. Gauge any possible hindrances or concerns they may have concerning video ads and offer tips to help solve their problems. Some savvy publishers have already prepared for this change. Advertising.com reports there has been an 80% increase in publishers who support some variety of video ad formats since last year. According to the same survey, a mixed campaign encompassing both text and video is becoming increasingly popular. Adding video content to your affiliate program could attract publishers and increase your traffic. Consumers show a positive reaction to the introduction of video content; in particular those that help build social networks. Travelervideo.com allows clients to upload vacation photos or videos and write their own travel logs. This created customer retention due to personal investment in the Web site, reports comScore research. The frequency of visits and specialized communities available on social networks is a great targeting opportunity not yet available on search engines that can be capitalized with the addition of video hosting.
Advertisers must incorporate the latest trends in order to satisfy and remain engaged to the consumer. The appeal of online video will only increase from here; begin to integrate video within your affiliate marketing program today. Remember, the more accommodating you are to consumers, the easier it will be to allure clients and increase your reach.
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