A while back I wrote a guest post for Mark Robertson at ReelSEO providing some insight into what to look for when searching for an online video platform. The piece was based loosely off of an interview Mark and I did at the Online Video Platform Summit back in November. Here’s the video interview which covers three basic ideas when considering an OVP:
The ultimate Case Study for online video; Zappos.com believes in video in a big way according to Rico Nasol, Senior Manager on their Content Team. Rico was interviewed at the recent Streaming Media West show where he divulged plans to build out mass amounts of original content in 2010 as well as why video is so important to Zappos.
As you know, Zappos was acquired by Amazon earlier this year for a whopping $840M, which is not surprising based on the fact that they (Zappos) did a whopping $1.2B in sales last year. Rico attributes a good percentage of this success to online video stating that products with accompanying video sell better than those with static images alone. Here are a few key facts from the interview:
• 6%-30% increase in conversions when SKU has video
• Zappos has 45 full time employees working on video
• They have 5 dedicated studios (in Las Vegas and Kentucky)
• They currently have 8,000 videos, producing 60-100 new videos per day, and want to produce another 50,000 in 2010
These are amazing statistics further proving that online video is for everyone with a web presence. Whether you’re an online marketing manager, a publisher, or an ecommerce business, video can and does enhance your business by extending your brand, engaging your customers, and increasing revenue.
So, what are you waiting for? Find the OVP that best suits your business needs NOW!
The inaugural OVPSummit went well in conjunction with StreamingMedia West which supposedly had record breaking attendance this year. Overall, there was not a huge turnout for the OVPS portion of the show with only 47 registrants and 90-ish OVPS + SMW registrants. The bulk of the floor was occupied by OVP booths and the attendee list was mostly the same. It was basically an inside industry event which had its benefits for me as I was able to meet many of the people running the platforms which make up the VidCompare database. It was a pleasure to speak with everyone and to hear their resounding support of VidCompare.com.
A personal highlight of the show was sitting on the opening panel, Defining Online Video Platforms, with Ron from Kaltura, Alex from Delve Networks, and Bismarck from Ooyala. Following are the questions which were asked of us and my responses:
1. In 50 words or less, define what an online video platform is.
- An OVP is typically a SaaS based business offering top to bottom video solutions including ingestion, encoding, storage, management, analytics, syndication, and playback of video.
2. What are the main functions and features customers should be looking for when evaluating online video platforms?
- It’s important to know your use case for online video prior to getting started with your search. Identifying the purpose of your video effort be it a start-up marketer looking to extend brand reach and increase time spent on site, a large media publisher looking for content management, syndication, and distribution, or a SMB looking for an internal training solution with multiple log-ins, and administrative rights. Once you’ve identified your needs you can look for a provider who can accommodate the top 4-5 features that address your goals.
3. What about as we look down the road two or three years? What sort of features will online video platforms be offering then that aren’t available now?
- 2 – 3 years is a long way out but I think by then TV everywhere will be adequately addressed as well as the movement towards TV and OV oneness therefore OVPs will need to provide more holistic solutions to further blur the lines between them. I think OVPs will grow beyond partnerships and meld with the CDNs, search and discovery players, and the ad networks. I don’t think it’s going to be a features race but rather a movement towards ubiquity and completeness.
4. Does it make sense for some organizations to simply use free players like YouTube? And at the other end of the spectrum, does it make sense for some businesses to build their own platform? What factors go into the decision to build your own, use a free service, or invest in the kind of online video platforms that are being shown here at the summit?
- Well, we’re attending the OV-P-Summit, not the OV-DIY-Summit so I think the argument is in favor of the Platform today. Online video, for the most part, is a strategic purchase made typically by a marketing manager with light technical skills and little to no engineering resources at their disposal. That said, the top-to-bottom solutions that an OVP can provide are invaluable to the VP of marketing with a tight budget. YouTube does not address B2B needs completely and is therefore not an option in my opinion other than to test the video waters and to get your feet wet. Today marketers need to expose their brand in new and far-reaching ways with built-in viral and social tools, they need to drive traffic to their site, not someone else’s, and they need to know exactly what their content is doing and how it’s performing at any given moment.
5. We’ve got an entire session devoted to monetization tomorrow, but what are the most effective ways for business to monetize their video? Should most organizations even be looking at video as something to be monetized directly?
- We’re still in our infancy as an industry especially when it comes to monetizing video with very few standards, and not enough premium content to turn a profit. CNN can demand $75 CPMs but not many others can do the same without a million streams a minute. Businesses should look to their already high value web pages and rather than monetizing video directly, monetize pages with video turning 3.2 second bounces into 2.3 minute clicks to Leaderboards, skyscrapers and high-value site sponsorships.
I’m looking forward to next year’s event, Eric and Larry did a fantastic job organizing and managing OVPSummit and I’m sure learned a lot to add to next year. According to Joel, SM Publisher, SMW will be in LA next year so I guess we’ll be traveling next go around.
I’ll soon have video of the opening panel which I will post shortly along with an interview by Mark Robertson of ReelSEO.
I’m happy to introduce VidCompare, a new web service that is designed to be your business decision tool for searching and comparing online video platforms. It should be said upfront with full disclosure that VidCompare is the brainchild of Kris Drey, VP of prodcut marketing at Fliqz, an Emeryville, California-based online video platform (OVP). So why would an OVP executive launch a company that compares other OVPs, isn’t that a conflict of interest? I asked Kris that very question in a featured interview about why he launched VidCompare, how will the site will work and what’s the overall goal of VidCompare. Kris believes that the current methodology of searching for an OVP through Google is broken and that the industry needed a better way for consumers to find the right services and platform for their online video products.
VidCompare at its core is a marketplace for educating users, driving high quality leads and a community of online video platforms. While the site is based on search and discovery — with the goal to promote the network layer stack that has the most direct contact with the content creators of the millions of video web sites, which by 2013 will account for over 91% of global consumer traffic according to Cisco — VidCompare brings together the OVP market into a community and every company that’s included in VidCompare’s growing database will be given private access to update and promote their profiles.
OVPs are becoming more focused on a wide array of capabilities from content management, encoding, advertising, syndication and monetization. But for the customer who may be new to online video it can be confusing to decide what components they need and what’s the added value that OVPs bring.
As the market further expands and more choices become available, education will be key for online media consumers to make strategic buying decisions. VidCompare can help with the necessary tools to search, compare and make an educated purchase.
About the author
Larry Kless is President and Founder of Online Video Publishing [dot] com a new media resource firm for sharing strategies and best practices for online video publishers. Larry is a 20 year veteran of the enterprise video space and award-winning producer of corporate and educational videos. His background is in fine arts and he’s a long-time member of Canyon Cinema, Inc. and Filmmakers’ Coop. He writes a personal blog and is a contributor on Vator News and ReelSEO focusing on streaming media, online video, startups, gadgets, social media, advertising and marketing, videoconferencing and collaboration. He recently was named a 2009 Streaming Media All-Star by StreamingMedia.com, an annual team of the most innovative, influential, and important players in the online video arena and also Co-Chair of the Online Video Platform Summit, a featured event the 2009 Streaming Media West Conference and Exhibition.
I start my day like many others who enjoy and occasionally write about Online Video, reading. There are a select few writers I read every day who in my opinion cover the space best, this post is dedicated to them. Why? Because they educate readers like you and me from their vast experience in and knowledge of the online video world.
Larry Kless runs KlessBlog and has been covering online video trends, online video platforms, and the industry in general for many years. He’s a well respected activist in our space and this year was nominated a Streaming Media All-Star by the good folks at StreamingMedia.com. My favorite aspect of Larry’s blog is his engaging video interviews and his thorough approach.
Ryan Lawler, senior editor of Contentinople acts fast, getting the word out about online video platform news toot sweet. I can always count on Ryan to get the facts straight and often ahead of the pack.
Mark Robertson, founder of ReelSEO has been running the site for years as a side business but has recently left his day job behind to pursue his dreams of covering the space full-time. Mark’s blog covers the highly interesting topic of video SEO and optimization as well as general news in OV.
Day Rayburn, one of the first to dedicate himself completely to online video has been deeply entrenched in the space for longer than I can remember. Dan’s got his finger on every intricate detail in OV, especially the CDN side with his blog BusinessOfVideo.com. He is also Executive Vice President of StreamingMedia.com, and is very active in the space via conferences (Online Video Platform Summit, StreamingMedia East, StreamingMedia West, and others). And don’t bother contradicting him, he’ll talk you out of it.
Pete Wylie, editor of FierceOnlineVideo. I’ve been a fan of the Fierce web sites and newsletters since I was at CNET almost 5 years ago. Pete’s blog is a newer addition to the network and my personal favorite. What I like about Pete is his straightforward approach and no nonsense attitude. He digs in and tells it like it is, the straight dope.
Will Richmond is founder and editor of VideoNuze, an informative and well-rounded news and analysis blog covering several different aspects of the OV space. Will knows the space well and everyone in it, often drumming up key players for engaging podcasts, and webinars. I also like his “4 Items Worth Noting” weekly roundup.
Kudos to you guys, thanks for educating us.
LLOV! (long live online video)
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