The Power of Video on the Digital Platform
Introduction: online video has always been an important way for brands to communicate, target and grow
The need for video in direct business strategies has grown significantly as media owners and business-to-consumer brands are focused on putting video on their website(s), online catalogues and branded You Tube channels. Video streaming quality is now much more consistent, accounting for 30 percent of internet traffic and according to Cisco this is set to rise by 90 percent in 2014. Therefore, using video content that is relevant and evocative for a viewer can become a significant part of any businesses strategy (whether B2B or B2C) and can help to target and improve audience response rates and acquisition campaigns. However, in digital magazines, video that is integrated alongside articles has proven to be successful in increasing subscription conversion rates and advertising revenue. Furthermore, those publishers who are using their apps as channels for commercial video messages (as well as a platform for content distribution) are more likely to build brand recognition and acknowledgement with an audience.
The benefits of using video on the digital platform
Many publishers find that a digital business model which uses a replica of their original print content but also harvests opportunities to add additional video and rich media (picture galleries, audio files etc.) is successful in ensuring digital readers are not disappointed with the “interactive” experience that is often promoted as an alternative to their print editions. In digital publishing, it’s about turning static printed collateral such as flat PDF magazine pages into rich media and *video* enhanced versions for the iPad and other platforms (Android, Kindle Fire etc.) As publishers grapple with a content package that now includes print, digital, online they need to find a content strategy that works effectively on multi-platforms without de-valuing their free web content or alienating their print editions. This is where video can be a functional tool for publishers who want to monetize on the extra content that their digital editions provide, whilst engaging and retaining their audience with additional interactivity.
Easily finding video content to use
Large archives of images or original video content can be a huge asset for publishers who are looking to grow their audience – and their ad revenues. It is important to note that advertisers are turning to digital; especially as part of a package campaign (print, digital, online etc.) as they realize that cross platform shopping experiences can utilize a brand’s influence. However, for those specialist publishers who don’t have their own original video content, there are stacks of specialist video content on YouTube and all videos are copyright free as long as you don’t put it behind a pay-wall (for website purposes). In the same way, most advertisers will have free video content that publishers should include to increase ad click-throughs and e-commerce opportunities for the future.
No such thing as a one-size–fits-all approach
When publishers curate their digital content they should look to their magazine’s brand identity to find out the best approach to the amount of video and rich media they should put in their digital editions. Those publishers with multi-channel content can take full advantage of the possibilities on the digital platform. For example, those publishers with automotive or fashion based publications are bound to have extra video content that they can monetize easily. We only have to look to attitude magazine as an example:
Attitude improved subscription conversion rates and audience retention by choosing a dynamic approach to video
• Video covers help to promote celebrity endorsements and exclusives and set attitude apart from other digital editions and have become much of the unique selling point (USP) to attitude’s apps’ success powered by MagazineCloner’s Custom Build technology.
• Audio and video advertisements illustrate the month’s top film and music recommendations and push users to sample before buying.
A study by Yahoo found that consumers were twice as likely to watch a video when the video was featured next to or as part of an article. Integrating video within your magazine’s digital pages may be an effective way of adding context to direct video messages, thus making them more ‘watchable’ and audience recall rates higher.
• Extra video content from backstage photo shoots & fashion shows can be monetized easily and the ‘exclusive’ factor of content like this gives users a bigger incentive to download the app as it is adding value to the reader by adding additional editorial content for a similar, if not smaller cost.
• Video has proven to add consumer value and a competitive market performance to apps. Advertising and sponsorship revenue will increase if brands feel their marketing messages can be channeled in the most effective way possible, i.e. through video. This is something for publishers to think about in the future when using their app editions to bring an advertiser’s propositions to life.