Have you got your connected video strategy in place yet?
With 58.8 Billion minutes of content consumed in the UK in the month of Jan 2012 alone surely you need a piece of this action? (58.8 Billion minutes is 111,798 years btw)
Here’s one – boxed fresh and how you like it- go on, it’s good for your digital health!
The “How To Play / Where To Play” Happy Meal
With any strategy development it’s good idea to ask yourself two questions:
- How to Play the landscape
- Where to Play in the landscape
So let’s jump in but for sh*ts and giggles we’ll reverse and start with Where to Play.
Just the Facts, Hold the Mayo
Remember some of these stats and drop them in at your next digital strategy meeting. You’ll be the star.
- In the UK 80% of the total Internet audience (34M users) watched 8.4 Billion views worth 58.8 Billion minutes in Jan 2012 [source comScore]
- That’s an average of 247 videos per viewer
- About 29 hours of content per month per viewer
- Thee are more people over the age of 55 than there are between the ages of 35 – 54
- In the last 14 months the UK online viewership has reached saturation with 0% growth (November 2010 = 34.7M UV; June 2011 = 33.7 UV; Jan 2012 = 34M UV) [source comScore]
- However time spent engaging with videos (i.e. watching them!) has continued to increase by 42% [source comScore]
- Although video consumption is up YouTube’s market share measured at November 2010 and January 2012 remains around 46% [source comScore]
- Mobile (including tablet) video consumption is expected to grow (globally) past 690 Billion minutes by 2015 [source PR Web]
- The UK BBC iPlayer tracked 23 Million request via Mobile devices (phone + tablets) in Dec 2011 – 12% of all requests made that monthly [source BBC Press]
A Double Digital McVideo with Secret Sauce
Now you’ve got the above committed to memory have a think about what it all means:
- The UK Internet Audience has long acquired a taste for online/connected video. And it’s appetite is growing.
- So much in fact that the data is strongly suggesting that consumption behaviours are changing and viewers want to watch more and more via online channels.
- Importantly for strategies looking to justify Off-YouTube content placement the numbers again strongly suggest that although still growing in raw views YouTube’s market share has plateaued in the UK
- (that means for the above) that viewers just don’t go to YouTube to consume video!
- With the current average linear TV consumption standing at around 20 -30 hours per week, online video consumption is ADDING 25% to that total.
- Tablets and Connected TVs are starting to see material uptake (the BBC iPlayer tracking +596% and >1000% year on year respectively) as the primary screen for watching connected video.
The Tag Lines You Should Adopt
You might need to sell this to stakeholders and the like so here are some fool proof tag lines backed with real world data! None of that Baffle them with your Bullsh&t business!
- The UK Internet Audience is already consuming video, and lots of it;
- it’s happening increasingly across all screens, just look at the rise of the BBC iPlayer on the iPad! – 600% Year on Year!!!!!;
- your belief that YouTube will just hoover everyone up is misinformed, they have grown yes but have not increased market share since Nov 2010 (according to comScore!);
- the world has moved to rich media as a matter of engaging and building an audience;
- We need to be in it to win it.
Now for the Nutritional information of How to make up your pack
Once that everyone has been Dazzled with your Brilliance it’s time to put a plan in place to get it out there.
At this stage you no doubt will be asked the dreaded TCO and ROI questions! So how much will it cost me and how will I make money off of it?
Neither are easy to answer in one go and depending on your size of organisation and ambition you are probably best to get a consultant / expert in to help work this through (*ahem*!)
However given this is post hooked you in with an offer of a Strategy in a Box here are some off the shelve ways of truisms to remember:
How Much You Pay Will Depend On What Level of Control You Want.
Let’s get one thing out of the way immediately. To create, execute and maintain a connected video initiative will cost you money. There’s no way around it. And nothing comes truly free.
The OVP industry is geared around a value curve where price increases respective to the level of control and features you need. To put it simply: the more you want to do the more it will cost you. However although services might not cost you anything out of your wallet they take value elsewhere (ad revenue, brand exposure etc).
A rough sketch of this with some of the main players here – you should decide how much control you need and then plot yourself on this graph.
You’ll Need Videos
A glimpse of the bleedingly obvious I know but many organisations overlook this fact simply because it is so obvious. Creating videos can be a non trivial task. The sooner you ask yourself where the videos are going to be coming from the better!
Videos can be sourced by 3rd party suppliers, your community, professionals within your organisation, friends, family, anywhere. The trick is understanding this supply chain up front! It can have a material impact on the level and type of service you need to put in place.
Ads Are Not For Everyone – Set That Expectation From the START
Unless you’re YouTube, MSN, Facebook or any of the big players you’re not going to make any real revenues from ad funded videos. Online video advertising works n the simple premise that for every 1000 of views you create you can sell them at a fixed price to advertisers. This is called the CPM. In simple terms you can expect a CPM around £7 net (perhaps lower, perhaps higher). So you need to think about reasons you’re online at all.
The key reason most sites have embraced connected video is for its halo affect on other aspects of their digital strategy. Nike does huge video campaigns to help build its brand awareness and loyalty of customers; Amazon embraces video for product reviews and enhance the buying decision; The NHS has embraced video for it’s broadband messaging potential, being able to tell a rich story in a short time span; the Telegraph has embrace video as a tool to generate stickiness and differentiation from its competitors.
None of the above have approached online video with the sole reason of generating direct ad revenue. Unless you have the potential of creating a 1M views a month or more than you better have another reason to justify the costs.
(NOTE: new pay per view models are starting to emerge that can create ‘content revenue’ however it’s still experimental and you trial at your own risk).
The Audience Has Gotten Out of Their Seat
Once upon a time all you had to do was serve a video through your website and bish bash bosh you’re done. The
problem challenge today is that the Audience has gotten out of its seat is on the move. Loyal fans will still come to your site but you need to do more to go after them and new viewers.
You need to follow them to where the action is: Facebook, Twitter, YouTube all need to feature in a distribution strategy. Mobile, Tablets and Connected TVs all need to feature in a device strategy.
The bottom line is you need to think multi dimensionally – your videos need to be available When, Where and How a viewer wants to consume them. Today’s Viewers are a very sophisticated and fickle bunch. Try to join them and not piss them off.
A final note: the above is a somewhat simplified version of a Connected Video Strategy. It is meant to provoke and urge people to take up Connected Video as part of their digital strategy. Don’t be ashamed to ask and get help from any industry player. Most (if not all) supply knowledge bases via their sites – YouTube even publishes a Content Creator Playbook worth it’s weight in gold so to speak. And consultants like myself will continue to be at your beck and call to help you how and when you need it. After all this is the future.
– Cameron Church