Collaboration Cast

You Tube was sold to $1.6 billion to Google and a knock off to You Tube, GodTube.com focused on christian videos, grew nearly 1000% percent during its first month to reach 1.6 million unique visitors every month since it’s first release. The online video advertising market was worth $400 million in 2007, according to Borrell Associates, and is expected to grow to $13. billion this year. A recent survey from Jupiter showed that in 2006 60% of advertisers and 79% of agencies where buying video ads for their online budget. This percent of people purchasing video ads and the number of ads they purchase is only expected to grow in 2007.

A recent poll done by Pew Internet & American Life showed that 57 percent of online video users (67% of 18-29 year olds) send video links to others and 75% receive video links. The other very interesting point is that 45% of those consuming videos show some type of response to the video message, 31% check out the companies website because of the video, 28% looked for more information about the material, and 22% searched for more information about the product.

Not only is Online Videos influencing is viewers, but they are also becoming a significant form of entertainment for those people using the internet. A recent study by eMarketer shows that 69% of men and 45% of women who use the internet in the US listen or view internet media streams. There are several things market managers should do to leverage the benefits of online video.

1. Start a Viral Video Campaign

Several companies have created viral videos who have spread through out the internet and have generated a lot of attention for a company. In my previous blog I wrote about Mentos and how Mentos increased their sales by 20% because of the Mentos and coke video. Companies need to find ways to start viral videos that can help them reach the same success Mentos obtained. These videos do not have to cost much, but most importantly need to be creative, innovative, and attention grabbing.

2. Create Your Own Video Library

Companies need to leverage the attention they are already getting and convince people to spend more time on their site and listen to their message. A great way to do this is add a video link to your website, very similar to what people are doing with blogs today. Companies should have their own You Tubes with their messages that consumers can listen to and share with others.

3. Leverage Other Social Networks to Syndicate Your Content

Do not ignore the power of You Tube, Face Book, and My Space. It is important to invest in these networks and create videos that the users of these Networks can consume. A lot of success will be reached by getting the right video to the right community and watching it virally spread. Millions of people are registered in these sites and a great video can see overwhelming success over night.

4. Find Targeted Ways to Place ads on Potential Viral Videos

Besides creating your own video you should also plan on diversifying and investing on ads in other videos that have a similar message to your brands. Find out what is out there, what people have published, and stick your ad on their video. Ride someone elses wave and make it your success.

Hopefully some of these tips help in planning out your next video campaign.