5 Reasons Why Online Video Is Dominating 2012 | Location3 Media

There?s no doubt online video is taking over. Sure, as the new video guy I?m probably a little biased. But you can?t argue the numbers . According to Borrell Associates, online video production will account for more than one-third of all online advertising spending within the next five years.?According to Comscore,?144.1 million viewers watched 14.6 billion videos on YouTube.com (101.2 videos per viewer) in May 2010. And according to me, cat videos rule. So let?s take a look at the 5 Reasons Online Video is Dominating 2012?

1. People are consuming their entertainment online

?I stopped paying for TV before it was cool.?

You?ve seen the studies (study, study, study),?more and more people are starting to get their entertainment online. Part of the reason for this switch is due to the fact that online video now offers the same HD quality that television offers, but with a few more advantages.

• Convenience: Why re-schedule your day to catch the new episode of Desperate Housewives when Hulu will stream it whenever you want.
• Any Device: Online video can be seen on lots of different devices. From an iphone to a computer, people can essentially watch video anytime, anywhere.
• Searchability. Say you want to find a video where Darth?Vader?plays the bagpipes on a unicycle.A few simple keystrokes can take you to any video you want to see.
• Reach: Your video can be seen by literally anyone in the world.

In 2012, If you own a website, you virtually own a TV channel. And the web is broadcasting 24 hours a day, 7 days a week.

2. Attention Spans

?What else is on??

In a competitive marketplace, attention is vital. And the question becomes: are people actually paying attention to videos played on the internet?

ComScore reported that the average viewer watched nearly 22 hours of video in a single month ? most of which are short videos that are aimed to inspire, provoke, or excite. I emphasize short here, because the market is moving more toward catering to the Facebook generation?s goldfish-like attention span.

According to a study by Visible Measures, 20% of online video viewers click away from a video in the first 10 seconds or less. By 30 seconds into an online video up to 33% of viewers have moved on; at 1 minute 44% have left (regardless of the clip?s length) and almost 60% have abandoned by the 2 minute mark.

So for your business, A short concise message means more views, more shares, and more opportunity to reach your target market. When someone comes to me and says, ?I?d like to make a five minute video,? the very first thing I ask is, ?Can we do it in two minutes?? People just don?t have the patience anymore, so you need to get your message across as quickly as possible.

?3. Social Media

?Check out this video that was on my newsfeed today! Its called the Cinnamon Challenge!?

Brands are moving further away from direct advertising, whose metrics that are hard to calculate, and into original video content. This content that is created not to sell but to engage. They tell a story and they create brand loyalty. Especially through their Facebook brand pages. Take Red Bull for example. They targeted consumers in the extreme sports market with more than just generic tweets about ?epic pow days? and ?shredding the gnar.? They post video that would resonate within their target market and leave a lasting impression, with major pass-along value.

Like so many others, I subscribe to Red Bull?s updates because it features the world?s top athletes doing unbelievable things ? From custom-built half pipes to skydives from the stratosphere,?Red Bull continues to put out some of the best action sports footage on the internet. This model has gotten Red Bull more than 27 million Facebook fans and has proved that you don?t have to be on television to market to millions anymore. Hosting the video on social media sites guarantees that Red Bull?s brand message is being delivered to more than 27 million people within their target market. The days of direct consumer advertising is dwindling, and the advent of marketing through storytelling has arrived. This will propel online video even more into the world of serious profit.

4. Quality

There?s a reason your cat video hasn?t gone viral.

First things first ? No one is going to watch your video if the quality is poor. They just won?t. There is too much quality content on the web today for anyone to waste time watching your webcam-recorded video.

Not more than a decade ago, if you wanted to make a high-quality video, it was going to cost you. However, significant technological improvements in the last ten years have made possible to produce quality HD content for a fraction of the cost. While shooting and editing a professional-grade video still takes a great amount of skill and experience, the cost has diminished significantly.

Because video is more inexpensive to produce, there is more opportunity for younger talent to enter the market. Small businesses need little time or money to dabble in the medium, and the payoff can come as free word-of-mouth marketing, website traffic without advertising, and a more meaningful way to engage potential clients.

So while we still have our fair share of poorly shot cat videos on YouTube, there has been a huge influx of high-quality video recently. For your business, this translates into less financial risk to get started and an opportunity to add some fresh thinking and young talent to your team.

5. Delivery/Sharing

Because sharing is caring!

Not long ago, your email inbox was probably being cluttered by dancing babies and the Star Wars kid.?Since then, video has found more convenient platforms than your email inbox for hosting and sharing. ?And if you?re like me, the majority of the videos you watch are ones your friends shared with you.

So naturally, I believe the most important aspect of an online video platform is its share-ability. Pinterest?s new video feature gives users the opportunity to pin videos to their boards. Even more so than Facebook and Twitter, Pinterest has created a sharing experience so simple and effective, it makes the potential for viral sharing even higher.

Niche markets have emerged for nearly every subject you can think of, so whether your video is about the mystery of unicorns (I?d watch it) or SEO ranking factors, chances are there are blogs and sites who want to share it. All it takes is a bit of research and outreach. I?ll also go back to the point I made about quality here. If you want people to share your video and host it on their own sites and blogs, the quality needs to be up to par.

While this is mostly my biased opinion, one thing is for sure. Video is here to stay. The time to think about including it in your marketing plan is now.

PS. Its not all my opinion. Here are some facts to chew on:

? By 2013, 90% of Internet traffic will be video.

? Advanced Internet video (3D and HD) will increase 23-fold between 2009 and 2014.

? By 2014, 3D and HD Internet video will include 46% of Internet video traffic.

? In the same time frame, online video ad spending will swell from $1.97 billion to $5.71 billion.

? Video ads accounted for 12.4% of all videos viewed and 1.2% of all minutes spent watching video online.

? Top video ad networks potentially reach the following proportions of the total U.S. population: Google Display Network at 46.7%, Tremor Media at 46.3% and BrightRoll Video Network at 37.3%.

? In February 2011 there were 3.8 million video ads, which averages about 30.2 ads per viewer and reached 42% of the total U.S. population.

? According to comScore Video Metrix, in February 2011 the total U.S. unique video viewers on the Internet was 169,646 with an average of 816.4 minutes per viewer.

? Google sites had 141,065 total unique viewers, averaging 261.6 minutes per viewer in the month.

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Source: http://www.location3.com/5-reasons-why-online-video-is-dominating-2012/

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