Rock Your Customers: The Whys' of On-Line Video in "The Experience Economy"

As we begin the New Year, let me ask you a question.

WHAT MAKES YOUR WEBSITE DIFFERENT & MORE COMPELLING THAN YOUR COMPETITION?
We'll get to that but first, though it's only January 9th, I hope your New Year is off to a positive start. It's so easy to get lost in all the negative business news and let disappointments and negative energy rule our thinking. We've just got to keep pushing and I guarantee your day will be better, if you're forging ahead by sharing a laugh or smile with someone.

Ok, time to hit the play button on this REEL which focusses on an area of business that is exploding, On-Line Video, a tool that can help make your website distinctive.

Something Old - Something New

Like many people, the New Year for me brings with it a period of reflection about years past. Oh how things have changed since we started our video production business 24 years ago. The large (back breaking) camera pictured about cost in excess of $12,000, while the smaller one, a Flip Camera, cost less than the taxes paid on the first.    I remember paying over $2400 for a 4 gig hard drive that would playback just 10 minutes of video. Heck, I remember having to use a pay phone every day to call my office when I was in Corporate America, and when the fax machine was the latest and greatest way to communicate information. Who could have imagined then that this thing called FACEBOOK would connect over 500 million people worldwide as we begin 2011.

The primary purpose of this REEL however is not to discuss changes in technology, but rather revisit why video as a tool, is a good investment to consider in your marketing strategy. I'll share some thoughts on video strategy in future REELS.

While technology certainly has driven revolutionary non-stop change, too many businesses, arguably, spend too much time on technology as an entity, and not enough on its impact on people-your customers.    That customer is a drastically changed one, which mandates new business thinking on ways to create value in marketing and communications. It makes sense doesn't it? Tell me what you think.

The big picture of WHY USE VIDEO comes down to one word.

EXPERIENCES

Let's look at the features and benefits of on-line video from through the lens of experiences, something most video production companies and web companies don't address or emphasize enough.

Why EXPERIENCES? Today, consumers value experiences more than ever. The experiences you stage creates distinction & differentiation for you and new value for both your business and your customers. Experiences go much deeper than technology and physical attributes. (Product,Price,Place, Promotion) Let me also note , that this applies as well, to companies with business to business offerings.

Let's begin.
First, a quick top-line definition of a business experience from my friends, Joe Pine & Jim Gilmore, authors of an Internationally recognized book on experiences. "The Experience Economy - Work is Theatre & Every Business a Stage."

"An experience occurs in a business when a company engages customers connecting with them in a personal and memorable way."

If one really takes a minute to think about this definition coined by Pine & Gilmore in 1999, you'll should see the very reason driving the explosion of Social Media as we enter 2011.

I believe that all companies, small or large, regardless of industry would serve themselves well by considering another Pine & Gilmore thought. "The Experience is the Marketing." In other words the best way to generate demand for your goods and services is to have your customers experience that offering in a place (physical or virtual) so engaging that they can't help but pay attention and then pay up.

Secondly, a sneak peak at the stages of any experience as defined by the Doblin Group, an internationally recognized leader in innovation, from Chicago. Ok let's show that with a graphic.
expy stages
... just wanted to provoke some new thinking and introduce a new framework to explore the business case for on-line video. I'll focus on the main 3 stages of experiences, Attracting/During & Extending.

ATTRACTING CUSTOMERS (Pre-Experience)

On-Line Video by its very nature is effective in capturing attention & mind share of customers, in a world of information and marketing overload.

Getting someone's attention is the very first step to attracting people to your business on-line.
Video can help build a foundation of trust & credibility.

On-line video provides SEO (Search Engine Optimization) Benefits

Did you know that YouTube is the number two search engine behind Google? The SEO benefit applies directly to THE ATTRACTING STAGE of an experience.

DURING STAGE-(The Main Experience)

On-line Video can help make your website more Engaging & Memorable-A Better Experience.

Video can help bring your website to life creating a place that customers want to experience over and over. Static text and photos only websites are a dime a dozen and undifferentiated.
Video can create stickiness to your site getting people to spend more time with you. More Time = More Sales
Adding new video content to your site is a great way to keep it fresh, giving customers a reason for a revisits.

On-Line Video like no other marketing tool available, has the power to evoke Emotions from your Customers

Emotions directly account for at least 50% of all buying decisions. The motivation to chose one brand or company over another, when choices are endless is sparked by emotion.
Specific emotions drive value during each experience stage that attract new customers, produce loyal customers and produce customers who will recommend your business.

On-Line Video has the power to give your company a Face, a Personality.

It has the power to humanize your brand, demonstrate your uniqueness in a world of sameness.
People buy from people they know, like & trust.

On-Line Video is a natural fit with digital STORYTELLING

Per above, emotions impact buying decisions. Stories connect with customers on emotional level.
Great stories spark action, transmit values, foster collaboration, communicate who you are, & help lead people.

EXTENDING STAGE (The Post Experience)

Video is an excellent piece of marketing collateral, that people can share with friends or colleagues.

Viral word of mouth marketing is still the most effective from both a cost and results standpoint.

Video is an excellent tool to use as a piece of memorabilia for people to re-live their experience and remember you.

Video can be used after the main experience to demonstrate to customers that they're more than just a transaction.

ON-Line Video engagement is measurable. Here are a few areas.

Number of views
Time spent by each viewer
Customized set of criteria relative to time (days,months, specific ranges of dates ) videos are viewed
Specific drop off points for each on-line video
Unique viewers and where they came from
Referrals by viewers

A WOW graphic giving you another WHY consider On-Line Video
youtubegraphic

To conclude,

Thanks for stopping by. I hope you find the content I provide meaningful and relevant to your business. We continue to explore and think about new ways to provide more value in our communications with you.

We are already working on changes to all video and experience offerings for 2011. If you are already considering On-Line Video drop me an e-mail or call and I will send you a summary of current packages available.

As always, feel free to give me a call should you want to start a conversation on marketing including on-line video or your customer experience. 518-587-6340 bill@storymavericks.com

Best to You & As Always.....Rock Your Customers !

Bill

Comments

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Spledid, insightful post, Mr. Gibeault. The perusal of video production is effective now more than ever, as websites strive to become more interactive. Well-produced videos have a strong potential to attract customers and engage them, and these videos also leave lasting impressions.

My startup business is currently based in Vancouver, BC, and we're still exploring the different channels for marketing and promotion.

Posted by: Bruce Hershey | February 23, 2011 at 01:25 AM

Thanks for visiting Bruce. First best of luck for your start-up business. I wish you well. Connect with me on Twitter or Facebook. I'd like to see what you are up to. Totally agree that on-line video as a marketing tool has exploded. The key as you know is to develop content that is meaningful, relevant, nd true to what the business says it is. Best to ya

Posted by: Bill | February 23, 2011 at 09:03 AM

Thanks, Bill! I never really thought that this is fun as it is challenging. Cheers!

Posted by: Bruce Hershey | February 23, 2011 at 08:24 PM