The year is 1996: Primeau Productions purchases its first computer. A custom built PC with one GB of storage space. Our consultant advised us that this would be plenty of storage space to build our database with. This is when I was introduced to the Internet.
You might say I was a late bloomer, and resisted electronic communication. My former assistant would print out my emails that I received and I would hand write the response on the back of the page. She, in turn, would reply to them via email using my notes. Our chief engineer at the time introduced me to the World Wide Web. One night after work, a time I chose because I did not want to “take away” from my business day working with audio and video (which was the company’s bread and butter), I finally agreed to him showing me around the Internet. He showed me virtual tours, music videos and the basics of how to use a web browser. Little did I realize that over the next ten years, Internet video would transform and reinvent our business.
Today Internet video statistics are staggering. 72 hours of video are uploaded to YouTube every minute, and over three billion hours of video are watched each month on YouTube. A study in December of 2011 shows that 182 million US Internet users watched online video content for an average of 23.2 hours per viewer. Even with such data in existence, not every website features video.
More people watch video on the Internet than through cable and satellite television combined. We have arrived at the video revolution, the tipping point in the evolution of video.
How do I know?
1. Professional video has a low cost to produce compared to ten years ago. The average marketing video in 1996 cost $25,000.00 to produce. That same video, with higher quality graphics and 3D effects, costs less than $10,000.00.
2. Online shoppers have come to expect video with product descriptions. In fact, according to Forrester Research in April of 2010, one online retailer provided the information that consumers who watched a product video were 85% more likely to buy the product as opposed to those who did not watch. Another online retailer in April of 2011 released a study that found shoppers were 144% more likely to add an item to their shopping cart that they had watched a product video.
3. Internet users have come to expect video on websites. In a recent poll, conducted by Primeau Productions, websites that feature video enjoyed a 30% increase in average visit duration. People spend more time on your website when you include video.
4. The high speed connectivity of the Internet has made it easy for millions of web users to view Internet video programming worldwide, 24/7.
5. Video storage has become affordable and convenient. With the implementation of high definition video, interfacing a computer to your home television system is common today, yet was unheard of ten years ago. There are people today who have all of their favorite tv shows and movies downloaded to a computer hard drive. They can watch their favorite programming without the Internet, but they would not have access to purchasing these programs without use of the Internet.
The Internet has made all types of movies, TV shows and series available for purchase and downloadable from several website communities such as iTunes and Amazon.
6. The Internet has become host to dozens of on demand video companies, like Netflix and Hulu. Xbox and PlayStation with their wireless Internet interface have made it easy for video aficionados to have access to such media as YouTube and ESPN right from the family’s entertainment center, 24/7.
So what happens now that we have hit the tipping point? It has become apparent that the world of video will never settle down and be status quo. I believe the next progression in the evolution of video will include the following:
- More and more people will share their favorite videos with friends and family. Viral videos will surpass the value and popularity of reality TV shows. I feel this is because they tend to be shorter; viewers can watch “more” video in less time. Plus, they are easy to share. A viral video viewer can easily share the video with their friends and family.
- I believe people who create video to share advice will get more business for their niche than the companies that do not create video. Primeau Productions has already experienced an increase in analytics from its Internet video marketing clients who have implemented professionally produced video to their websites.
For example, one of our clients, Blue Caribbean in Puerto Aventuras, Mexico enjoyed a 50% increase in business twelve months after implementing video into their website. In fact, we taught the owners how to record professional high-definition video using a Sanyo Xacti camera, saving them thousands of dollars in video recording fees. They recorded the video, sent us the SD card and we edited their videos in our Rochester Hills studio.
- Businesses that do not use video on their websites will eventually become obsolete, as Internet buyers are becoming trained to look for video when they visit a website. Businesses that do not have video to demonstrate their goods and services will eventually be passed over due to a lack of interest by the Internet shopper.
- More people will generate their own video networks and channels and continuously create and produce video programming that will be created for a specific audience or niche. These micro-networks will double in numbers each year over the next ten years for both population and viewer-ship.
- More independent film-makers will create more independent movies using high-definition video. Feature films, documentaries and short movies will grow in number and popularity because of the easy access to equipment and editing systems.
- More people will study creativity. Money will be made in video by the professional video production companies who are more creative and already have a creative process in place. Creativity separates the novices from the experts and video production will become more and more important.
- More and more people will record, download and watch more video from the Internet. More businesses will use viral video to market and promote their products and services because a viral video is virtually free. No media purchasing time is required, like with television commercials, once the video has been created. The potential number of viewers over time is astonishing. Your market, which is comprised of your friends, fans and followers, has the potential of helping your video get millions of views through the use of social media.
- Video will continue to reduce our international borders. Even video that is created in another language is shared globally, because those videos are visually creative and inspiring even with the language barrier.
- Storage will be affordable and available at extremely low cost. Video users will not only digitally store their video library on hard drives, they will also begin to use cloud storage so their video library is backed up, as well as accessible, anywhere in the world, 24/7.
So now is the time to begin developing your Internet video presence. There is no better way to sell goods and services, create interest, communicate a message or process, make someone smile, entertain or even educate then through video. Design your video marketing strategy by jotting down ideas and discover your creative process. Purchase a high definition video camera and learn how to capture content at a moment’s notice. Identify a professional video production company that can help guide your video production process and produce, publish and promote your intellectual property across all available platforms on the Internet.
Today, in 2012, we own eight computers with over 10,000 GBs of hard drive space; a far cry from the original 1 GB of space in 1996.