Singlegrain.com : 60% visitors will watch video over reading text

videomarketing

Reproducing a post. Original here. http://singlegrain.com/just-stats-science-video-engagement/

In 2013, ReelSEO released their Video Marketing Survey and Business Trends Report, which incorporated feedback from over 600 marketing respondents. They discovered the following:

  • 93% of marketers are using video in their campaigns

  • 84% are using video for website marketing

  • 60% are using video for email marketing

  • 70% are optimizing video for search engines

  • 70% will increase spend on video

  • 82% confirmed that video had a positive impact on their business

Clearly, video marketing works. Or at least marketers think it works. But where are they getting their numbers from, and what makes them feel so confident?

As it turns out, there is a whole lot of data that explains the year-over-year increase in video marketing. Video engagement is analyzed religiously by industry sites like ReelSEO and Wistia, and big players like YouTube aren’t exactly shy about sharing. Visible Measures produced an excellent overview video on the state of online video that takes some of the more salient data points and throws them together, but we really should be paying more attention to the details.

What Does Video Engagement Look Like?

Before we talk about video marketing, though, we need to talk about video engagement.

One oft-quoted statistic is that viewer engagement has to happen within the first 10 seconds of watching a video. This little nugget of wisdom has been corroborated by the National Center for Biotechnology Information, which reports that the average attention span in 2013 was 9 seconds, one second less than the attention span of a goldfish.

Quite frankly, this factoid isn’t helpful. Videos run the gamut from 6-second Vines to 10-minute vlogs. This is what we really want to know: where does engagement begin and where does it end?

Fortunately, Wistia weighed in back in 2012 with this helpful video analytics chart, which was synthesized from years of video analytics:

As you can see, the longer a video drags on, the lower its retention, which is expected. Yet videos under 1 minute enjoy 80% viewer retention up to the 30-second mark, while videos 2-3 minutes in length still enjoy 60% retention. 5-10 minute videos (which is just about the cutoff for video marketing purposes) still see over 50% viewer retention halfway through.

In other words, humans are still smarter than goldfish, and your viewers base how much of your video they watch on how long they think it will take them to get the gist of it. This means that you don’t have to overload your production queue with Vines, Instagram videos, and 30-second shorts.

In other words, 100% viewer retention is not the goal. Neither is virality. The goal is engagement from your target viewer.

Except this still doesn’t really answer one important question: How effective is video marketing?

The Who and What of Video Marketing

Diode Digital found that video promotion is 600% more effective than print and direct mail combined. They also found that, before reading any text, 60% of site visitors will watch a video if available.

Viewers remember videos better, too. Online Publishers Association observed way back in 2007 that 80% of viewers recall a video ad they have seen in the past 30 days. 26% of viewers then look for more info about the product, 22% visit the product site, 15% visit the brand site, and 12% make the purchase.

Business execs prefer watching video, too. Specifically, 59% of senior executives prefer video over text (WeCapture), 75% of executives watch videos while working (Forbes), and 65% navigate over to a site after viewing a related YouTube video.

None of this is really surprising when you take into account that one minute of video is worth 1.8 million words (Forrester Research). Content marketing is the art of doing more with less, and there’s no question that video does this superbly.

But where, exactly, do we market videos to get our target viewers engaged?

Video can be used in lots of places, and proficient video marketing comes from an understanding of which channels work for your brand and target audience. Much of the supporting data has focused on video on websites, social media/YouTube, mobile, and in emails.

Branded Website

The first and most obvious place to incorporate video is your website. The home page, landing pages, blog posts, etc., any page is fair game for video enhancement, and the data proves it.

Landing pages with video lead to 800% more conversion (FunnelScience). In fact, 88% of visitors stay longer on a site with prominent video displayed (MistMedia). Those that stay longer spend an average of 120 seconds more on a retail site and are 64% more likely to purchase after viewing a single product video (comScore).

52% of shoppers confess that watching product videos makes them more confident in making a purchase (Invodo). 40% of shoppers will even visit a store online or in-person after watching a video (Google). Online Publishers Association backs this up with a similar finding that 46% of surveyed shoppers would be more likely to seek out additional information about a product after seeing an online video.

The bottom line? Retail sites with video increase conversion by 30% (L2 Specialty Retail Report), and that was back in 2010.

But the love doesn’t just stay at the top of the sales funnel. Even blog posts, traditionally used for bottom-of-the-funnel content marketing and loyalty, enjoy increased viewership with a simple spritzing of video. Moz found that incorporating video into a blog post attracts three times as many inbound links compared to blog posts without video.

According to Simply Measured, video is shared 1200% more times than links and text combined. Diode Digital also discovered that 60% of viewers will watch video before reading any site text, and will share their experience when presented with a “share this video” button. Even more encouraging, Invodoreports that 92% of mobile video viewers share video.

These stats should be enough for most brands to start including videos in their social media updates, but many have been slow on the uptake. In fact, only 700 tweets a minute include YouTube video and only 120 tweets a minute include Vines, but over 9,100 tweets are sent every second (Twitter)!

Obviously, video is useful for social media engagement, yet the number of videos being shared on social media is significantly lower than you’d expect. Back in 2011, while 71% of companies were on Facebook and 59% were on Twitter, only 33% were on YouTube (UMass Dartmouth). The numbers tell the story: video marketing still hasn’t been as readily adopted as other forms of content marketing.

In order to really get an idea of how video could be leveraged to increase a brand’s social media presence, YouTube statistics are in order. ReelSEO’s YouTube Statistics 2012 shed’s light on the massive video search engine’s reach by pointing out that 500 years’ worth of YouTube video are watched on Facebook every day. It’s no surprise that YouTube is the world’s second biggest search engine after Google, or that YouTube accounts for 28% of all Google searches.

500 years’ worth of video a day translates into 3042 hours worth of video watched simultaneously across the world each second. According to YouTube, more than 1 billion viewers watch its videos each month, clocking over 6 billion hours. One hour of video is uploaded to YouTube each second, 100 hours are uploaded each minute, and get this: more video is uploaded to YouTube in one month than the 3 major US networks have created in the past 60 years.

YouTube’s Vice President of Global Content, Robert Kyncl, famously claimed that video will soon be 90% of all Internet traffic. No one’s going to argue with him on that one.

Surprisingly, over 80% of YouTube traffic actually comes from outside the US, pointing to a huge global viewership many businesses haven’t even begun to tap. Also surprising is the fact that mobile views make up more than 25 percent of YouTube’s global watch time, which turns our attention to yet another video marketing channel.

Many laptop and desktop viewers only stick with video for 2 minutes or less, while mobile users are more patient. iPhone users watch 2.4 minutes on average, Androids users give 3 minutes of their time, Symbian users 4 minutes, and iPad users 5 minutes (Visible Measures). Translated into percentages, mobile and tablet shoppers are 300% as likely to view a video as laptop/desktop users (Invodo).

This could just be because of the difference in venues: online video is about 50% of all mobile traffic (Bytemobile Mobile Analytics Report), and is predicted to become 75% of all mobile data traffic by 2016 (Cisco). So, it makes sense that mobile viewers would be more accustomed to using their mobile devices to watch video. It would certainly explain why, as mentioned earlier, 92% of mobile viewers share videos.

The reign of mobile video doesn’t look like it’s going to end anytime soon, either. This makes mobile-ready websites and landing pages an absolute must. And you know what else mobile devices are good for? Checking emails.

A great case study in product positioning and branding (reproduced from Ben M Bartlett’s blog)

buckleys

Reproducing a very engaging post here. Ben M. Bartlett is an analyst, strategic planner and coach who specializes in business, marketing and high performance strategy

For the original post, please visit http://benmbartlett.com/a-great-case-study-in-product-positioning-and-branding/

I want to share with you a case study concerning one of the best product positioning and branding strategies you’ll ever come across.

It helped a Canadian company enjoy rapid growth, made its President a famous celebrity, and turned a serious product “flaw” into a huge selling point.

I’m a passionate user of the “flawed” product, even though I have an annoying love/hate relationship with it.  Why?  Let me explain.

Down here in New Zealand we’re just getting into winter and as is customary at this time of the year, we’ve armed ourselves to fight off the nasty coughs and colds.

When it comes to the sale of cough and cold remedies, supermarkets and pharmacies do a roaring trade during winter. And we’re spoilt for choice too.

You got night-time remedies, day-time remedies, cough mixtures for kids, cough mixtures for adults…you got pills, lotions, rubs…with pretty much all these products backed by the latest and greatest in medical science and supplied to us by multi-national pharmaceutical companies.

As for me, I prefer to use a 90 year old natural cough remedy made by Buckley’s.

Buckley’s? In case you’ve never heard of it, Buckley’s is a Canadian company that manufactures cough and cold remedies. Its flagship product is its natural cough remedy, which was developed by the company’s founder, W.K Buckley, way back in 1919.

Let me tell you.  This product works wonders and I have been faithfully using it for over six years.

Now even though the product is fantastic, you actually have to summon some serious courage just to shove it down your throat. The reason?  To put it bluntly, Buckley’s looks like semen, smells like gasoline and tastes like burnt oil.

Yes, the Buckley’s taste is horrendously bad.  But it works. And it’s this combination of bad taste with powerful product efficacy that led to the development of one of the best product positioning strategies you’ll ever come across.

In the mid 80s the people at Buckley’s took what is considered one of the products worst attributes – its taste – and combined it with the fact that the product does a great job.

That lead to the creation of the now famous Buckley’s tagline which is, “Buckley’s. It tastes awful.  And it works.”

Buckley’s then took this tagline and combined with a series of marketing campaigns built around its product’s best and worst attributes.

Here are some examples of ad headlines built around the “tastes bad” theme.

People swear by it.  And at it.

Our largest bottle is 200 ml.  Anything more would be cruel.

Feared by more people than ever before.

I’m dedicated to ensuring every new batch of Buckley’s tastes as bad as the last.

How bad does it taste?  That depends.  How bad is your cough?

Your cough won’t know what hit it.  Neither will you.

Four of the most dreaded words in the English language: “Get out the Buckley’s!”

I still remember the day when I first heard, “Buckleys. It tastes awful.  And it works” on the radio. Actually, it was this tagline that made me drive down to the supermarket to try the product out.

And after trying the product for the first time, I knew the marketing wasn’t a lie.  The product tasted awful…and it worked.

Some key points.

1.  Your business and brand strategy must be based around a strong competitive position.  In the case of Buckley’s, their position is that the products work, but they do taste awful.  What Buckley’s owners did was take a perceived negative and turn it into a positive.

2. A great tagline can do wonders for a business.  You can even build, like Buckley’s have done, an entire branding theme around a great tagline.

http://yourstory.com/2015/01/my-product-does-not-exist-how-do-i-sell-it/#

case study 1-pic

Reproducing here, my column for yourstory.com

http://yourstory.com/2015/01/my-product-does-not-exist-how-do-i-sell-it/#

Last month, we talked about the various kinds of startup entrepreneurs and their approach to business. We will now examine, via case studies, the most common mistakes that start-up entrepreneurs make. Here’s the first one:

Problem:  Selling to the wrong customer

This client, hereafter referred to as Plasma had an offering in the healthcare space.

As a part of his extensive, hungry travels, Plasma’s founder, Raj, had chanced upon a technology in Scandinavia that offered a full body scan. This was commonly used as a predictive tool- information about the patient on certain conditions that may cause future problems.

Raj was aware, that a full body scan cannot be used as a substitute for standard medical checkups. It was at best a complement to a regular ‘health check-up’, to provide the doctor with a better, more complete picture of your overall health.

1. Plasma approached radiology clinics with a view to sell these machines. Most radiology clinics, are themselves run by aggressive entrepreneurs. They were clear that if a machine was available, they could buy it too.

2. Plasma then proposed to develop a protocol around the scan machines, with the help of experienced doctors and provide the machine and the protocol to hospitals as an additional service. Hospitals refused on the grounds that patients would not opt for it.

3. Raj then opened its own clinics, called “Plasma” with specialized protocols around the machine. Raj felt that his “cardiac scoring” product was a winner- he could be able to tell someone that they had a cardiac risk 10 years down the line. They advertised, called themselves “your personal health predictor” targeted the HNI, ands spoke about predicting predisposition for cardiac scoring (presence of calcium in the artery) and lung screening for cancer. There were takers. But they needed more to be able to break even on the 10 machines installed in 10 different locations.

Raj realized that unless he hit the hammer on numbers, there would only be a trickle of elite interested patients, who would be interested. A validation of this was that clinics located in upmarket residential localities had more patients. Yet, for his 10 clinics to break even, he needed better footfalls, tie-ups etc.

“There is no product that does what mine can do, said Raj, Other imaging techniques in the market cannot do what my machine can do, and are not as safe as my machine is”- pitch after pitch, healthcare professionals heard Raj out and politely told him “we will get back to you”

Approach

Raj had a good product. He was trying hard to figure out which customer really needed his product.

While there were “communities” of people engaged in active self-monitoring, and these were the first adopters of the product, the word-of mouth proliferation of the idea was taking time.  He needed a way to find more such communities.

Raj’s machines had cutting edge technology. Their radiation levels were much lower than other machines in the market. His accurate cardiac scoring had started making waves. He was prescribing healthier lifestyles.

He needed to find a hook for someone who gave him 10000 patients at one shot. Or so he thought.

Raj explored the full range of services that the scan machines offered. He had suppressed some functionalities of the machine, in order to find a focused way to market it. That way, he had to train fewer people to operate the machine.

His low dose x-ray scanning could detect musculoskeletal, endocrine, and prostate and ovarian disease as well as tumors, aneurysms, osteoporosis, hernias, and kidney and gall stones. Was he underselling his product?

Insight

What was the one category of business who would benefit most from knowing how pre-disposed an individual was to cardiac and cancer, and other very expensive treatments? Will this category demand a steady stream of scans, as opposed to sporadic needs?

Solution

Plasma needed repositioning.

Plasma’s tagline was “your personal health predictor”

Three years into existence, and with negative responses from a 63 hospitals and doctors and radiology clinics, Plasma branded itself anew as a tool for “health risk assessment”.

Plasma was able to approach insurance companies. Insurance company managers had targets of their own, “we are bleeding. We have been told to bring down claim ratio to 30% of present levels in the next two years. The problem is, we don’t have the tools to calculate risk accurately.”

While the rest of the world was looking as “plasma” as a cost, here was a sector that was looking at Plasma as a “benefit”. In all businesses, this is almost always the tipping point.

The insurance company gave Raj a list of the top 10 expenses they incur in claims. Plasma realized that its scan could add value on predicting all of them. This, in conjunction with a basic test like the blood test, could change the way insurance companies calculated the premium they would charge.

Plasma had finally found a “market need” that it could solve. With three big insurance companies under its belt, Plasma was able to bring clients into its clinics.  This further spread the word on its safe technology and protocols, and gave rise to fresh communities who were interested in self-monitoring.

Summation: A state called the “thinking trap” can be our most basic flaw

Raj was basing his assumptions on various thinking traps, the most basic one being “all or nothing”. If it’s a healthcare product, then obviously hospitals and clinics would have the need for it. Better still, patients directly. The interdependence of various industries today is well-known. The solution may lie in an ancillary or affiliate industry, that we have not given thought to at all.

If you want to shoot, shoot! Don’t talk.

good bad ugly

If you want to shoot, shoot! Don’t talk.

This line in the cult western classic, “the good, the bad and the ugly” encourages you to do what you need to do in the moment- “position your brand and service” sharply, as opposed to “talking about it”

What is the current market problem? Does your product or service solve the problem? Have you managed to make your customer see it?

In the 1990s, “fair and lovely” was a product that would “make you look better and get a better husband.”

Today, with changing times, “fair and lovely” is a product used by many women, “to feel better about themselves (self-confidence).”

From wanting a “better husband” to “wanting a better life, where family and career were both important” Fair and Lovely has positioned and re-positioned itself to be relevant.

While some of these could have been “their own realizations”, some were prompted by aggressive competition that communicated better. Learning from the customer, and learning why the customer is responding to competition, is always a good thing in business.

Positioning your product or service is “precision communicating”. Such precision communication requires homework. Truckloads of it! Such as-

  1. Observing customers when they interact with your product/service.
  1. What were they seeking, to the exception of all else?
  1. Out of the 10 attributes present in your product/service, were there some they didn’t even notice? What is the dead cost of those features?
  1. If there is an existing product in the category, is it doing better or worse than you and why?
  1. What are the established prejudices in your industry that you have to be aware of? Have you done something about it?
  1. Is your pricing compatible with the customer you feel is your TG?
  1. Is there another way to fulfil the same need, without paying the price you’re asking for?
  1. Do you learn from the customers who’ve accidentally discovered what they like about

your product?

  1. Are you using this learning to help more customers discover your product?
  1. Is your business about scale or about service? Volume or specialization? Do you need to be available at more accessible points or with more enhanced service proposition in fewer locations?

Put pen to paper and ask yourself these questions.

Positioning can be developed consciously, but oftentimes develops through trial and error and the natural evolution of a business. Understanding your business’ positioning is vital, and is the baseline for strong marketing strategies and execution, and in the end will determine the success or failure of your business.

Whether you are a small corporation or large, your product talks to your customer. Guiding this conversation is the key. The words and creative concepts you use, create an image in the mind of the consumer, which is pre-coloured by 4 billion years of evolution. Make sure you contribute to creating the right image.

@yourstory.com – The lion will kill and the rabbit will eat carrots: how different entrepreneurs market their enterprise

scit entrepreneur model

My many seniors working on evolution ‘know’ that we are still evolving- evolution is a continuum. A hundred years from now, people may write about “folks who used to listen to music on radio” just as we write about folks who used to travel in carriages.

We are definitely more connected today. We have accelerators, incubators, support programs, skype, youtube and whatsapp. So, have entrepreneurs become more successful today?

Sadly, no. Failure rates on entrepreneurship, in percentage terms are pretty much the same, as they were five decades ago. Over any timeframe, about 48% of businesses survive beyond the fifth year regardless of recession.

Cliché will tell you that entrepreneurship is a state of life where you choose to not have a cheque deposited in your name on a certain date of the month. Within this cliche’ is a vast breadth of people with varying occupations and money-making models, across four entrepreneurial DNAs. Let’s call it the SCIT matrix- based on what motivates them to be entrepreneurs in the first place.

The structural entrepreneur is highly scalable- they build businesses very fast, sell the company, move on and start a very different venture and so on. They areprogrammed to be appealing to good employees, good capital, and tend to see the skeletal X-ray of their business structure so clearly, that success seems pre-destined. They are all about numbers, scale and serially entrepreneurial.

The Cashout entrepreneur as the name suggests is highly impatient. They do not want to create lasting structures or vast footprints. They are into deal-making, entry, exits- typically real estate stocks etc;

The industry entrepreneur specializes in a certain kind of sector and is extremely risk averse. A doctor may build up a hospital or a lawyer may set up a huge practice. But they measure success not in terms of structures created, but their own influence and tend to be content within that.

The tripper entrepreneur is typically someone who never thought he would be an entrepreneur in the first place. They just hit upon something very accidentally. Its never about the money- they want to create impact, lasting value and typically end up creating billion dollar businesses.

THE SWOT

The structural entrepreneur builds scale, but could lack in providing service, value to society and quick numbers.

The cash-out entrepreneur will churn numbers, but will lack scale, service and value to society.

The industry entrepreneur will offer service but lack scale, quick numbers and impact

The tripper may be ignorant of service, scale and numbers till someone comes along to make sense of all of that.

MARKETING YOUR ENTERPRISE

The idea to begin with entrepreneurial segregation is simple- there is no one type of entrepreneur, nor is there any one type of approach to communication.

Yet, the entrepreneurs desire to communicate to his customers can be shaped into the classic cause-effect scientific patterns. It can be programmed to stimulus- response mode and generate the required result.

But such precision communication requires homework. Truckloads of it! Such as-

1.      Observing customers when they interact with your product/service.

2.      What were they seeking, to the exception of all else?

3.      Of the 10 attributes present in your product/service, were there some they didn’t even notice? What is the dead cost of those features?

4.      If there is an existing product in the category, is it doing better or worse than you and why?

5.      Is your pricing compatible with the customer you feel is your TG?

6.      Is there another way to fulfill the same need, without paying the price you’re asking for?

7.      Do you learn from the customers who’ve accidentally discovered what they like about your product?

8.      Are you using this learning to help more customers discover your product?

So while each entrepreneur has a set of motivators and force of habits- The lion will kill and the rabbit will eat carrots- they have to make themselves aware of a new set of attributes to be able to win the go-to-market game.

Through some exciting case studies, we will discover how entrepreneurs, across all SCIT categories, repositioned themselves to succeed.

Daniel Amen: Brain Capability, Evolution and a Question

brain

The homo sapien brain was extremely capable. So much so that it managed to be the only surviving species. As we evaluate various aspects of what could have led to us developing language, here’s a look at how powerful the brain really is. How capable it would ve been of shaping the course of history- and how capable we are, as a species, of actually improving life expectancy, finding new inhabitable worlds and complex global structures that do not exist today.

Not in my words- In Dr.Daniel Amen’s words.

Your brain is involved in everything you do.

Your brain is the organ of your personality, character, and intelligence and is heavily involved in making you who you are.

Your brain controls everything you do, feel, and think. When you look in the mirror, you can thank your brain for what you see. Your brain controls whether you hit the gym or sit at the computer to check your Facebook page. If you feel the need to light up a cigarette or drink a couple cups of java, that’s also your brain’s doing.ACTION STEP Remember that your brain is involved in everything you do, every
decision you make, every bite of food you take, every cigarette you smoke, every worrisome thought you have, every workout you skip, every alcoholic beverage you drink, and more.
Daniel G. Amen, Change Your Brain, Change Your Body: Use Your Brain to Get and Keep the Body You Have Always Wanted

“Having a sense of purpose, as well as connections to past and future generations, allows us to reach beyond ourselves to affirm that our lives matter. Without a spiritual connection, many people experience an overriding sense of despair. Morality, values, and a spiritual connection to others and the universe are critical for many people to feel a sense of wholeness and connection, and a reason to get up in the morning and to take good care of themselves.”
Daniel G. Amen, Unleash the Power of the Female Brain: Supercharging yours for better health, energy, mood, focus and sex

So here’s the Question!

Where can you take the human race, if you have full control over your brain? Just look back at how far we have come. The mobile phone in your hand – could’ve been part of a magic show in the 1970s. Whats the magic show of 2040 going to be? Be alive, be alert to the possibilities of your mind.

Positioning is more returns for less headache!

Positioning is about setting yourself apart from the rest- in "usage" terms.
Positioning is about setting yourself apart from the rest- in “usage” terms.
The focus of this blog is to connect the dots- from how we evolved as a species- acquired language and how we use it to communicate today.

Positioning is the pinnacle of all communication- like the six-pack abs of body constitution. Everyone would love to have it- but its not easy to achieve and maintain.

Positioning is more returns for less headache!

In our “overcommunicated universe”, no brand or person or institution, has the luxury of being indecisive- hence the need for a sharp positioning (the process of identifying an appropriate market niche for a product, service or brand and getting it established it in that market)

When most entrepreneurs/organisations/marketers hear the word “positioning,” they think “very big brands.”

They lament that they cannot lose some of their customers, because ‘positioning’ makes it look as though they’re interested in only a ‘certain kind’ of customer.

Nothing could be farther from the truth, and it’s actually quite the opposite.

It is true that bigger brands have a little more ‘room for error’ than smaller businesses- but if any business should write a brand positioning, it is the small business or an entrepreneur or an organisation that’s looking to strengthen its position in the marketplace. It doesn’t cost a dime to write one, and it could save hours of time and enormous resources.

For one simple reason: focus.

Positioning is more returns for less headache!

Focus is a companies’ best friend, and a well-crafted brand positioning can bring greater focus than ever before. Simply put pen to paper and add some clarity to your activities- and share this with your agency-

You have to decide-

a. who is the most profitable target customer (80% revenue)

b. who is the definitive business to compete with (parallel offerings)

c. what you can best bring to the marketplace (what your customers come to you for?)

d. how to connect emotionally (what do your customers feel when they interact with you- relief from pain? Break from hunger? Time saved? Convenience? In safe hands? Protected?)

Once you know what ‘value’ to bring to mind, its very easy for you to figure out everything else. In the short term, it may appear that you’re losing customers- in the long term, you will be spending far lesser money- by targeting your communication- to people who ‘have use for it.’

Your positioning is a gift of prioritization that no other document can give you.

Your brand-positioning statement can give you the clarity you need to move your business forward. And yes, always remember that positioning is not about being “stuck”. Within your core positioning, you evolve to be consistent with a changing world.