Online video is hot and made even hotter by the new iPhone video capabilities. So much focus is placed on YouTube because of the number of views it can generate. Video is drastically changing what people view and how they are viewing it. Consumers are moving away from their television sets and spending more time on online video sites to watch their favorite shows and other entertainment. Online video is also still a relative novelty compared to traditional forms of media. Further, and most significantly, reduced ad clutter and the inability to easily skip ads are considerable recall-enhancing factors.
Internet population loves to watch online video. Just four years later, in 2014, it is expected that 77.0% of the US Internet population will watch online video. In other words, 3 out of every 4 people who access the Internet in the US Internet connected TV is going to be a reality. It will dramatically change the ad industry forever.
Advertising.com says 42 percent of consumers have forwarded a video clip to a friend. Advertisers are very excited about online video, which is why the value of sites that tap into the market is so high, according to Ryan Jacob, manager of the Jacob Internet Fund. Jacob, who owns shares of News Corp., said video is "very alluring" to advertisers because it's "easier to monetize" than other forms of advertising.
YouTube and other video sites showed that the main trick to reach millions of users and consumers out there is to make embedding video information as easy as possible. Most of YouTube's views and traffic comes from outside their network from embeds in blogs, news sites and other web sites. YouTube has announced that it is currently redesigning its website in a new format that will feature both premium content and user produced content. Two sources that are familiar with Google's plans for the popular online video sharing site have stated that the site will be doing away with its current navigation scheme which includes tabs for Videos, Channels, and Community. YouTube is already gigantic, so the interest is there. It claims to serve two billion video views per day.
Online video is enjoying a period of rapid growth and the medium is being rapidly embroidered by publishers of all sizes, but as technologies become more mass-market, usability and accessibility become gating factors to adoption. We've seen the interviews to publishers, networks and advertisers from video advertising's inherent complexity first-hand, but we expect broad adoption of VAST 2.0 to lower these barriers and increase the number of publishers monetizing their video content. Online video is big. People now watch online video as much as they do network television.
Marketers are using video on their sites because it is driving better metrics-longer visits and higher conversion rates. In e-commerce, video is driving a double-digit lift in sales and lowering customer service costs. Marketing spend has been funneled into a series of PPC programs in order to drive more and more users to visit a site in the knowledge that a fixed percentage of them will convert into subscribers, users or customers. By shifting some of the focus towards online video, marketers are now able to increase the percentage of conversions without increasing the overall marketing budget.
Reference source :
Video Marketing – The Basics of Making an Online Video
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