Success With Video in a Soft Economy
With the global financial crisis rearing its ugly head in almost every corner of the industry, the time has come to take an even closer look at the technology publishers have turned to for years as a new means of generating advertising revenue and a more cost-effective way of producing content for readers. Video on a publication Web site -- now more than ever -- is a hot alternative to costly print. That is if you know how to use it.
Charles Weiss, an 18-year vet of the trade publishing business, knows how to best supplement editorial content with solid video. Currently with Nielsen Business Media as associate publisher of Back Stage, Weiss has worked in the past with Reed, CMP and Miller Freeman. He spoke with Publishing Executive Inbox about the value video is bringing and will continue to bring to magazines, especially during the current recession.
Publishing Executive Inbox: What's working for publishers with video at the end of 2008?
Charles Weiss: As with mobile, Web, podcasts, e-newsletters, etc., video is providing users with an additional platform from which to derive industry-related content. Every time an interview, event, etc., that would traditionally be covered editorially is also given a video component, we as publishers are strengthening our relationship with our readers or users, and augmenting the traction and stickiness of their time on the brand's site. In terms of what's working -- the concept of value-added for video sponsorship is similarly effective as it is with print. An example would be that in addition to a 15-second pre-roll, a publisher can package in an anchor banner ad plus a rotating ownership to the picture frame of the video player. This gives the advertiser or sponsor that added advantage of 100 percent share-of-voice, often on the homepage. One more pro -- if the video player has several channels, as most do, you're offering an advertiser the equivalent of exclusivity in conjunction with several sources of content -- i.e., articles -- rather than one. The Back Stage video player for example has six channels.