Dive summary:
- Social video has an army of fans, and for good reason the industry is set to hit $10 billion by 2015, but to achieve success in this relatively new medium these five myths must be understood. [see full list at iMedia Connection]
- One common mistakes is believing the only way needed to distributed a video is across Facebook and Twitter; the biggest problem with that is that Facebook and Twitter fans are likely already converted and budget should be allocated to reaching new audiences.
- Pre-roll video and social video are not created equal; viewers who watched the same clip as a social video versus a pre-roll saw an uplift of 28 percent in their likelihood to purchase.
From the article:
"You only need to look at the most popular viral videos produced by brands to see how social video success can have a big impact on a company's financial results. Nike's 'Write The Future' (the 19th most shared ad of all time) resulted in a reported 7 percent global sales increase when it launched in 2010, while Volkswagen's 'The Force' (the most shared ad of all time) saw sales of the new Passat increase by 116 percent."