This past week we aired Episode 71 of Friday Live, Intelivideo’s weekly live stream. For anyone new to Friday Live, during each episode we cover the latest happenings in the VOD space, along with tips and tricks for building a successful SVOD service.
Unable to tune into last week’s episode? Or just looking to catch up on all the top highlights? We’ve got you covered with our Episode 71 recap. Let’s dive in!
Apple’s New Streaming Service Announced
Apple formally announced the release of its new subscription streaming service, Apple TV Plus. Apple has reported to be spending more than $1 billion on its original programming with appearances from big Hollywood stars like Reese Witherspoon, Jennifer Aniston and Steve Carrell. They plan to offer up “family friendly” content, with a variety of genres such as children’s shows, comedy, drama, action, science fiction, thrillers and documentaries. The service is predicted to be a strong competitor with VOD leaders like Netflix and Hulu.
Peloton Sued for $150 Million
Peloton, the trendy stationary bike who offers live at-home classes, is currently being sued. The company features many “Top 20” type songs in the background of their workout videos and they allegedly did not obtain the rights to these songs. Nine different music publishers from the National Music Publisher Association are taking them to court for illegal use of their music and are seeking more than $150 million in debts. Peloton denies the accusations and claims that they did nothing wrong. There are still many details yet to be determined in the case.
How to Fit Video Marketing into Your Acquisition Strategy
Video is a great marketing asset for SVOD businesses looking to acquire new subscribers. When attempting to reach new customers through video, the best way to go about doing so is by splitting up your audience into different buckets. Once categorized, you should move those buckets through a funnel and progress each audience downwards as they become familiar with your brand by responding to different CTAs. A first touch point with a prospect is typically a light step towards the right direction, but they must complete multiple steps to convert to a hot lead/user.
3 Categories of Audiences to Include in Your Video Marketing Funnel:
- Cold: This group is new to your website or brand with little to no familiarity with your company and/or product. In literal terms, this would be someone who is walking down the street and passes your store. They might express interest, or they might not. In the digital sense, this would be someone that sees a social media post of yours, an ad, or stumbles across your site unintentionally.
- Warm: This audience visits your website intentionally, whether that be through a referral source like an article or an email campaign. This group also includes returning customers who knew your brand before but abandoned their purchase or are not quite ready to purchase again.
- Hot: Users belonging to your hot audience category are either existing members that already pay for your service, visit your store(s), or have responded to your marketing touch points (ads, emails, social media, etc.).
It’s important to have a video marketing strategy in place for each unique audience to get them to move from “intrigued” to “I want that!”.
In order to market with video successfully, you will need to produce high-quality and effective content for each audience within your funnel. Don’t just create one promotional video to use for your full funnel! Your audiences are unique and in different frames of mind.
Types of Videos to Create for Each Stage of the Funnel:
- Cold Audience (First Interaction): These are typically promotional videos. Think commercial! They’re quick (15-seconds or less), get the message across and encourage users to click through. Always include a clear CTA by telling them how to complete their next step and move further into the funnel.
- Warm Audience (Second Interaction): Create an informational video. For example, a video calling out the benefits of a product. Warm leads watching this video are already be familiar with your product, so use this opportunity to give them 2-3 more tidbits on why it’s beneficial for their lifestyle. It’s also effective to use customer testimonials to build up your credibility and trust with consumers.
- Hot Audience (Third Interaction and Beyond…): Users in your “Hot Audience” bucket are ready to come into your world and try your product. They’re no longer just exploring but considering purchasing. Provide them with a tour of your service, a customer testimonial and/or an exclusive offer/discount. Change your CTAs from “Learn More” to “Subscribe Now” or “Buy Now”.
Ultimately, all of your videos should blend together in a process and fold in with the rest of your marketing assets. Consider where each step in your strategy leads users to. Be thoughtful when creating your marketing plan! Harness your traffic and make your plan more efficient.
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