Video is the #1 consumed media online. Have you fully embraced a video strategy, or does video feel outside your current staffing capabilities? We checked in with niche publisher Tim Hermes on how to best develop a solid video strategy that generates revenue.
NMHQ: Why should niche publishers have a video strategy? Can you give us some real-world examples of how it can increase readership and revenue?
Tim: “In order to surround the market, a niche publisher must leverage all media – online, e-newsletter, print, events, social, etc. Video is a key element as it’s metrics are astounding in terms of increasing time-on-site engagement and brand recognition and prestige. And it can be monetized better – – and easier, than one would think.
Time on site for a web homepage with video increases by 100% over non-video. Time-on-site increases mean more engagement for everything a publisher does, whether it’s content view, increased page views, jumps to a download or a sponsor link, video accelerates that movement. And video has a certain prestige in the market. A well-produced video can make a brand look bigger than it is.
Of course video can be shared. Especially on your sponsor’s site! And video is becoming easier. You can leverage Google Chats (free) Facebook Livestreaming (free) and several great online video production and talent houses. Regardless, the question is always…”where do I start?”
NMHQ: Which leads to our next question—If a publisher hasn’t really embraced video yet, what are some key guidelines to get them rolling?
Tim: “There are two considerations and one “must” – assets and deliverable format are considerations, and the must is a clearly defined deliverable so the client knows not only what they are getting as a sponsor, but also what they need to provide. Video is more complicated than other media.
- Analyze Assets: These can be production capability, budget, media power (how strong is your brand – editorial, circ, industry face and prestige?) editorial/publishing personnel and their on-camera ability, and access to online assets such as stock images, pro talent, voice over talent. An overlooked factor is internal marketing power. Can your marketing team help get sponsored opportunities sold? What is YOUR brand’s best asset?
- Formats: Formats follow assets. For example if you have a superb editor who is a known industry brand, you can leverage that editor in different types of formats (like executive interviews.)
Identify the truly best style of video to start with that matches your best asset. A scattergun plan usually doesn’t work. Some options are:
- Weekly updates from an editor’s desk
- Google Chats/Hangouts
- Video Show Dailies
- Booth tours
- Livestreamed events
- Executive interviews
- Vertical video user’s guides
Use your best assets. Many brands have a superb editor who is the “face of the brand.” If they are comfortable in front of the camera and erudite and “present” well, you have a huge asset you can leverage. There are other opportunities using professional talent.
3. The Imperative: “Boxing” and Consistency
Crystal-clear deliverables must be explained to the sponsor prior to any effort to monetize a product. I call this “boxing.” The sponsoring company must know:
- The style of the video.
- The type of sponsorship (title card? Pre-roll? Post-roll? Interview?) and where it appears
- Who receives the video or where it is placed.
- Number of sponsors
- They should be able to see a sample if possible.
- What exact assets they need to provide. How many images? Script? Script length? Person for an interview? Tiem for that interview?
- If possible each asset should have consistent branding so when a user sees any style of video clip from the brand, they know it immediately.”
NMHQ: Your session at the Niche Digital Conference also covers how to promote video with video. What new promotion trends do you see on the horizon?
Tim: “I see three trends that are happening right now:
- Taking the time to create a superbly-produced promotion video for the sponsorship you are creating.
- Using “video reminders” from the individual reps, and training them to create a polished video using an app like Replay or Camu.
- Integrating the distribution of a promotion video into a CRM.”
Editor’s note: Tim will be leading the session, “Monetizing Video: From A-Z and Back Again” at the Niche Digital Conference in Denver, Sept. 19-21.
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More about Tim: Tim Hermes is the Principal of Hermes Media & Research and a busy b2b publishing consultant. He recently launched VerticalFeed, a vertical video newsfeed service for associations. He’d call himself an idea guy and tends to write business plans on napkins. And he loves the power of the play-button.
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Niche Media has created super niched-out events specifically for magazine publishers for over 12 years. Next up? The Niche Digital Conference in Denver, Sept. 19-21. We’ve helped pave the way for the era of boutique events that connect specific audiences and provide great educational, friendly and super-fun environments! Plus, Carl Landau – Niche Media’s Grand Poobah – is launching the all new Super Niche Event, March 27-29, 2017. Check it out!
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