So your board of directors has appointed you to implement the company's new online video advertising department.
No wonder, according to an October 2008 survey, online video advertising revenue is expected to accelerate even faster than previously predicted. With growth expected to be 89 percent in 2009 it's no surprise every media company is rushing to get a piece of the pie.
But don't panic. There are simple ways to break down the process into manageable steps. Most professional media companies can successfully transform their businesses to generate profitable new revenue streams.
The first challenge for a new broadband video business is to take a large library of video assets and make them readily available online. Your going to find success requires far more than just putting your video online. Creating an online video business platform that is sustainable over time- that's where the real challenge is. Unlike traditional TV environments, media companies must now manage a growing number of "channels" which as of yet there's no scalable comparison.
Now that it's time to scale, consider these important planning guidelines:
First, While some experimentation is natural, don't guess. It's possible to waste valuable time and resources by encoding files for online delivery with small or non-existent audiences. Instead, try evaluating your library in advance to determine what programming is best suited to online viewing for your target audience.
Second, Be aware that traditional web publishing tools were not designed for video. Look to maturing, purpose-built broadband video publishing systems to shorten the learning curve and efficiently launch your business.
Third, Engage your advertisers. Professional media companies have spent decades building relationships with advertisers. Don't underestimate the importance of that trust. Ask advertisers what type of video inventory they want to participate in, and gear your channels accordingly. You might be surprised at how well that matches up to your audience's needs.
Fourth, Plan, but don't stagnate. The right publishing tools will include comprehensive business analytic capabilities that let you monitor and manage your business in near-real time. The best part of internet TV is the ability to make mistakes, learn from them and improve quickly.
Please feel free to contact me today for any of your marketing needs Office: 386-951-5179 Call: 407-687-8323
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