Monthly Archives: June 2008

Who Watches Online Video?

I recently read two sets of interesting statistics about online video. They show not only the phenomenal growth in video, and the potential for any type of business, but the the second set of data says something you may not have expected. Here’s the first set, assembled by comScore, a specialist in digital data

  • US Internet users viewed 11.5 billion videos online during the
    month of March 2008, a 13% net gain over February 2008 and over 64%
    gain over 12 months ago.
  • 139 Million U.S. Internet users watched an average of 83 videos
    per viewer in March 2008.
  • 73.7% of the total U.S. Internet Audience viewed video online
    during the month of March.
  • 84.8 million viewers watched 4.3 billion videos on YouTube, alone!

Are you taking advantage of this growth? Or are you being left behind as the crowd rushes passed?

Stop and think a minute about the implications of the explosion in online video. First, yes, there are a lot of silly things on You Tube, and a lot of music videos and TV clips that have nothing to do with business. But the implication of the video revolution is huge. People no longer expect static pages on the web. Even the most casual user looks for video and audio content.

73.7% of the total U.S. Internet Audience viewed video online during the month of March.

3 out of 4 people know that video can be viewed on the web because they have already seen it. And once they see it, they want to see more. Can you offer your readers, buyers, and clients what they want? If you don’t – will they keep coming back to your site or will they go somewhere else?

The second set of data, called Video’s Short Shelf Life, is from Tube Mogul. The take away:

…Significantly, 50% of all views occur in the first two weeks, peaking at day three, which constitutes 11% of all views…

Conclusions

On average, videos are time-sensitive. Trends pointed out elsewhere, such as “evergreen” (non-time sensitive) content always fetching views or videos randomly “going viral,” seem more of a rarity than an underlying trend in the data.

However, since we only projected out to one year, we effectively capped a long tail that over time might add up to a significant percentage of overall views. Even in our one-year forecast, it is interesting that after 154 days, a typical video still has 25% of its annual views left–hardly a “flash in a pan,” although the long tail is declining in potency over time as the function approaches the x axis.

What does that mean for the independent seller? First, don’t jump to the obvious conclusion that video only has a 3 day window. That’s not true – viewers keep watching. There is a long tail. We don’t know lot about the marketing behind the videos Tube Mogul studied, but I would say this:

If you promote your video in a newsletter or blog post – have all your products and services ready before the video is published. Your readers/buyers/clients are most likely to watch the video in its first few days after release – that is, when they first hear about it. If your call to action leaves them hanging, because your PayPal button doesn’t work or your listing doesn’t go live until next week – you may not get a second chance.

Sony Vegas 8 Pro for Only $130

One of the many advantages of subscribing to Bill Myers’ web site, Bill Myers Online, (aside from Bill’s constant help and insight) is Bill’s willingness to find and share bargains on the best hardware and software for product producers. For instance, he recently pointed to a one day sale for the Canon HV30 at Newegg that could have saved you $300.00.

Bill doesn’t post dodgy, gray market software or hardware sales. If he recommends a deal, it is always a legitimate offer from a reputable dealer. So it’s money in the bank.

Now he’s found an incredible buy on Sony Vegas Pro 8 at B&H Photo.

If you use full motion video at all – whether it’s from a high end HD camcorder or a Flip Video – you know that taking the movie is only the start. The secret to good looking videos is the editing. And Sony Vegas is one of the very best editing programs around.

Generally, I recommend Sony Vegas Movie Studio+DVD 8 Platinum Edition It does 99.9% of everything you’ll ever need to do at a fraction of the cost of Vegas Pro 8 . But if you want to use third party plug-ins and special effects, you’ll eventually want Vegas Pro. The full edition usually costs $500.00 (less to upgrade).

B&H Photo has a special edition of Vegas 8 Pro that does not include DVD Architect – and it is only $130.00

Why would you forgo DVD Architect? Well, if you never intend to burn your movies to DVD, you won’t need DVD Architect. This might be the case for anyone producing exclusively for online use. Or perhaps you already have an older version of Vegas or (any version of) Vegas Movie Studio. DVD Architect is essentially the same, whether you are using Vegas 6, Vegas Pro 8 or Movie Studio. At a savings of almost $500.00 – why worry about DVD Architect? If you need it later, you can always buy Movie Studio.

Bottom line: if you want to experiment with special effects, this is a terrific deal.

New Version of SnagIt from TechSmith

SnagIt v9 from TechSmith has been released to generally rave reviews.

However, if you are already a happy SnagIt user, I’d recommend you try before you buy, even though TechSmith is offering a generous upgrade price to early adopters. I upgraded immediately (to save $5.00), and I must admit, I’m mildly unhappy that I did. Now that I’ve used SnagIt 9 for a week or so, I’m not sure I’d recommend it.

The general screen capture features haven’t changed much. In fact, aside from a Vista style make-over, the screen capture interface looks just like version 8. The big changes are all in the SnagIt Editor.

The first thing you’ll notice is the Office 2007 style ribbon. Whether you love the ribbon or hate it – you’d better get used to it. It’s everywhere from SnagIt to MindManager.

Usually, I’m a ribbon fan – but I pretty much hate it so far in SnagIt. Instead of making my workflow faster and more intuitive, it is slowing me down. I don’t use SnagIt as an image editor – for that, I turn to Adobe Photoshop Elements. What I want from SnagIt is a fast, easy way to take screen grabs and then insert them into my documents. So far, I’m sorry to say, with the new SnagIt 9, that isn’t happening. Instead I’m experiencing crashes, lost stamps (I had a huge collection of stamps in SnagIt 8), and the need to hunt through weirdly grouped tabs to find things that used to be right at my fingertips.

We’ll probably never go back to the old interface, but I hope TechSmith finds a way to make transitions between versions less jarring in the future.

Podcast with Savvy Seller is Available Online

My interview with Marlene Givens, the Savvy Seller, is available now. That was fun – Thanks, Marlene! To listen, just click the button below.

We discussed creating information products – how easy it really is and some of the fears that hold people back. And the original of the name Ghost Leg was revealed! The interview is about 15 minutes long.

I’ll Be on Marlene’s Podcast Tomorrow

The Savvy Seller – Marlene Gavens – is hosting a new podcast series for online entrepreneurs. Each podcast is only 5-15 minutes long and packed with tips. I’ll be on tomorrow talking about developing Information Products.

Come and listen to the podcast

If you can’t make it live – it will be recorded and available for on demand listening at The Savvy Seller’s site or on iTunes.

See you there!