- YouTube has over a billion users — almost one-third of all people on the Internet — and every day people watch hundreds of millions of hours on YouTube and generate billions of views.
- YouTube overall, and even YouTube on mobile alone, reaches more 18-34 and 18-49 year-olds than any cable network in the U.S.
- The number of hours people spend watching videos on YouTube is up 60% y/y, the fastest growth in 2 years.
- The number of people watching YouTube per day is up 40% y/y since March 2014.
- The number of users coming to YouTube who start at the YouTube homepage, similar to the way they might turn on their TV, is up more than 3x y/y.
YouTube presents a perfect video marketing tool to small and medium sized businesses.
YouTube is monatised by advertising, and have adapted their advertising offering in order to make it profitable for the advertiser and video marketer, and interesting for the viewer. TrueView, where the audience gets the opportunity to skip the ad if it does not engage them, or continue to view if it does, seems to be a win win for both marketers and viewers alike. Advertiser only pay after a viewing period of 30 seconds, so it compares well to other forms of internet marketing relative to cost.
What is in it for Small and Medium Enterprises?
YouTube entreats small businesses to “build your business faster by leveraging the sight, sound and motion of video, the most persuasive ad format ever invented. YouTube streams over 4 billion videos a day, and our targeting tools are so precise that you can show your ad to folks around your corner or to anyone around the world”. See YouTube statistics here:
They are impressive, and scary, and tell us that we either get with the video marketing thing, or get left behind.
Why SME’s should embrace YouTube
Advertisers as Content Producers
Advertisers are engaging the audience like never before see:
This demonstrates the power of YouTube advertising, where advertisers are adding value to their ads, making them memorable, almost like mini feature films.This is great for the big advertiser/company who can afford this luxury. for the small and medium enterprise, who need to target their market in a focused manner what use is YouTube to them?
Video : A new horizon
It is suggested that over the next few years we will find 73% of internet content on video. combine that with the expansion of mobile platforms and it is clear that we need to take a fresh look at how we do things. People chose to spend nearly 1 billion minutes watching the top 10 ads on YouTube this year. The key word there is “chose.” Brands are making content that people want to watch, and those people are coming to YouTube to tune in. See most popular ads 2015 here. (http://bit.ly/1A0Du
Cisco in a recent white paper forecast : Decline in non-smartphone use, increase in smartphone use.
Mobile Technology facilitates Video
So it seems as though more and more video content will be consumed, on mobile, and users across all age demographics will need to engage, or be left behind. The same can be said of small and medium businesses.
SME’s are the BabyBoomers of the business world, in danger of excluding themselves from the digital march.
Know your audience!
Given that advertising is moving from a linear viewing model, which is traditional TV viewing, to a less structured and fragmented audience, which is online video content, currently primarily YouTube, though changing, placing their advertising spend is becoming a more considered decision for advertisers and marketers. It can be a gamble. Never was there a better time to know your audience. Many content producers are now individuals, creating niche markets, for a less defined audience. This is a big problem for advertisers, they are unable to gauge video content, brand safe content, age demographics, gender and advertising reach versus cost. As there are 300 million hours of video content available on YouTube, it is easy to see how advertisers and marketers have difficulty deciding where to place their bets.
Brands love to segment consumers, chopping and slicing demographics into thin slivers that define attitudes, behaviours and the like. Interestingly, the principle of creating such segments was founded long before the digital age, and often, the segments themselves are reflective of the industrial era—juxtaposed against our modern, savvy, hyper-connected culture. This can result in a dangerous and counterproductive generalisation among groups of individuals. (GQ magazine)
Age segmentation (U.S) YouTube
This graph clearly indicates the incremental shift to online video content by all age groupings.
Everyone is using YouTube!
(except small businesses)
In the same way that Babyboomers will eventually die out, so too will small and medium business who bury their heads in the sand and refuse to see how video can be used to forward their business hopes and dreams into the future.
Getting to grips with video content
- Everyone has an equal footing on YouTube. Every individual who uploads a video has theoretically the same tools available to them as anyone else.
- Create your own content, create unique content to drive engagement. Humor works well.
- Keep the brand message in the background, just concentrate on content that’s either entertaining, useful or unique.
- Users who respond to your content will naturally gravitate to your brand in other channels and areas of commerce.
- Be consistent in your postings, both in terms of content and timing.
- Get more subscribers. The more subscribers you have, the easier it is to market a video as it’s guaranteed to appear in their newsfeeds. They’ll watch it, they’ll share it and your video will end up in even more places. Your videos will pick up velocity and sharing is the currency of YouTube.
- Actively engage with the comments, personalisation matters, people care about people and want you to succeed.
- Do not exclude any particular demographic, millennials may not need mobility aids, but they may have grandparents who do, and grandparents may not need skateboards, but they may have grandchildren who do!