There is a bona-fide requirement for content creators to obtain the technical capability and tools to link video displayed products and associated data to e-commerce and social media sites. For instance, if you are watching an episode of White Collar and you eye ball the suit Neal Caffrey is wearing you may desire to identify the brand and where it can be purchased. Choices for the consumer could include pausing the video to display the product data and e-commerce link or waiting to view the product data at the video’s post roll. Also, the capability to record consumer product ‘Likes’, publish product comments to Facebook and announce video viewer product sales during or at video conclusion would definitely be marketing pluses for retailers.
Recent market intelligence reveals that growing consumer lifestyle video demand is a prime force driving brands and retailers to adopt new and creative ways to monetize online video activities. As retailers get serious in accepting video as a strategic medium to reach targeted consumers, they will need to fully identify with and appreciate the key technologies to support this valuable revenue impacting approach. Topical Nielsen study reveals that streaming video is now the second most popular and common online activity, trailing only social networking. Video web viewing is up over 20% while mobile video viewing is in excess of 200%.
A successful monetization approach represents a mosaic framework supporting an array of customized and fully integrated technical components. Some examples include:
- Online videos made clickable with select objects (products, locations, and other items) annotated with associated data, creative graphics and links to external sites.
- Online annotated videos embedded within other annotated videos to further highlight targeted consumer lifestyle interests via projects, locations, interviews etc.
- Video player with two viewing displays incorporating (Display 1) annotated video and (Display 2) another annotated video, and / or a combination of slides, data, creative animation, graphics and links to external sites. In this approach, both displays would be synced improving the richness, visual and cognitive experience for the viewer.
- Online web and mobile sites designed and developed with imaginative and integrated visual effects including use of creative animation and graphics, annotated videos and links to external sites and/or live events.
Over the years, consumers have adopted clever techniques to steer clear of viewing TV commercials and web displayed adware! Will people also avoid viewing annotated videos because of their subtle commercial implants? The jury is still out on the reaction of the population to the pros and cons of people investing scarce time in viewing annotated videos. However, what is known is that consumers will characteristically search for and view ads they favor and are associated with their lifestyle and purchase patterns. Also, it is believed, that ads that don’t resonate, entertain, engage or lack relevancy will be avoided at all cost! People by and large will choose ads that they want to watch and hopefully will include annotated videos.
Co-Authored by Jose Pinto and Kevin O’Sullivan