- Tony Quin
The CMO Council’s latest report shows that the two top priorities for brands in the coming year will be social and online video.
Everyone has been focused on social for a while, of course, and it continues to be a fast-evolving space, but video is rapidly becoming the new challenge for brands–and an opportunity for competitive advantage. Compared to text, video is easier to consume, and, if used in the right context and at the right time, consumers prefer it to other types of messaging.
The value proposition for brands is irresistible:
• Instead of paying a network or TV station to deliver your video, you can make your video “findable” by people who are searching using SEO.
• Many of these videos should live on your Web site, so when you drive people there to see a video, they become the gateway into your entire sales story.
• Videos are also powerful with existing customers for upsell, cross-sell, and retention, and can be triggered with email and even by 1-2-1 sales.
• You can also use paid SEM, buying keywords to drive audience to your videos.
• You can, of course, buy preroll video ads just about anywhere, and use display ads to show or link to your videos
• Videos are also social currency and exactly what people like to share in social networks, so they should become a key component in your social strategy
The list of applications for video includes paid (purchased media) exposure, as well as earned (social/PR) and owned (Web site). But clearly it’s smart to exhaust the opportunities to get free exposure before putting your hand in your pocket.
The challenge is that just putting a video out there doesn’t cut it. To succeed, brands have to make the right videos, tailored for the target audience and context. However, many brands still don’t put the time and money into figuring out what videos they should make, what subjects they should address, what they should say, and how they should say it. And the truth is, video is not right for every situation; often, it is very wrong.
All of those questions can be answered with a good content strategy, which studies the consumer decision journey, the context, competition, and so on. Guessing is really not an option, and only when you have a content strategy to guide you should you move to creative and production.
For example, for one of IQ’s clients we learned that consumers were very uneducated about the buying process. So we researched via organic search to discover the top terms, especially long-tail searches, people used in the buying process. These led to videos designed to address those areas and questions, and which, through good SEO, would attract those searches. Since we know that Google favors videos in natural search results, these videos acted as a lead-generation tool, while, at the same time, filled out the brand story on the Web site and acted as content for marketing automation.
The idea is to make an effective video, but what works? Google considers “good” to be videos that are popular, based on such factors as how much people share your video, as well as how many links connect to it; the more popular, the higher the rank. So the objective is to make videos that your target audience find valuable and want to share. But why is one video more compelling than another? While there’s no simple answer, we do know that there are some general rules for what works, what doesn’t, and how to get it done.
Online, brands need a constant stream of compelling content to stay fresh and relevant to their consumers. The ability, therefore, to quickly create high-quality video on an ongoing basis at a reasonable cost is a key to making video online work. The trouble for many brands and their agencies is that making Web videos is not like making TV commercials. TV spots are produced only a couple of times a year, take months to make, and have very large budgets. They’re just too slow and too expensive for Web video.
As brands turn their focus to delivering fresh, relevant, and compelling online video, they will realize that it’s not as easy as checking a box. That means some will be better than others–some will succeed, while others will fail–but in the end isn’t that what competitive advantage is all about?
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