Video is being talked about a great deal but there does seem to be a little misunderstanding between what video marketing is and what video advertising is. The two often get mixed up or put together.
They are two very different animals.
Video advertising is simply about creating awareness of a brand, product or service and ending in a call to action. It usually has a very short life span as the costs of promoting the video are usually quite high, paying for space and time. It relies on the old models of broadcasting to the widest possible area and hoping that something will stick. Invariably it does as the eyeballs it reaches usually number between the 100,000s and the millions. But the response is statistically low.
Why? Because it is interrupting the audience to point at something they might not want, like or need and screaming ‘BUY ME’. The majority of the audience aren’t interested. Aren’t bothered. Aren’t even paying attention, pressing the fast forward on their set top box or the mute button while they make a cup of tea.
A small number of people want what is being sold, leading to Joe Wanamaker to comment: “I know that half of my advertising budget is wasted, but I’m not sure which half”
The Old Spice Guy advert from Old Spice is a perfect example. It isn’t providing any value other than to create brand awareness, primarily through humour. I think the advert is pure genius but it does have some weak points. It is simply an advert (a hugely successful one both on and offline due to the humour):
- Nobody watches the video and takes something useful away from it (Other than a smile and some catchphrases
- It’s lifecycle is limited
Video marketing is the opposite of video advertising. It provides information that is valuable and relevant to the audience, rather than interrupting it is designed to be found when the audience need it. Video marketing in this way ensures that the content is highly targeted, phrased around a question or a problem that the video answers or provides a solution, usually attached to some specific product or service. By appearing online, where most of us go to research problems and solutions, the video is already targeted and will find its audience An additional advantage with video marketing is that it has a much longer lifecycle than the advert as the problem or question never really goes away.
Polycell has a host of videos on both its website and its You Tube channel all specifically addressing problems that it has products for. The audience learns the solution and also digests the brand at the same time. This form of brand awareness will typically be stronger than the advert because the solution and the brand are connected, the audience hasn’t been interrupted and best of all if the solution is relevant, valuable and useful it is more likely to be shared.
Remember Joe Wanamaker’s quote? By using video marketing in this way it is possible to draw down data around common problems, popular products as well as demographic information. It also allows the analysis down to the click of what works and what doesn’t.
Both video marketing and video advertising have their uses and places in a businesses strategy but neither can substitute for the other.