Every marketer should look at video as a long-term investment: Subrat Kar, Vidooly
Subrat Kar, co-founder and CEO, talked about how Vidooly is going to get more penetration from the market in online video content in 2018
Vidooly is touted as the future of video intelligence. It's where the digital video planning and buying is executed. Talking more about the company, co-founder and CEO, Subrat Kar, discussed how Vidooly is going to get more penetration from the market in online video content this year. He also spoke about their partnership with Mindshare and how 2017 was important for them especially after Mindshare won an Agency of the Year title under the mandate of Vidooly. He shared their plans for their venture Kyve and what the future holds for digital, OTT and TV industry. Excerpts:
Why should brands focus on data and analytics before launching any online video campaign?
We at Vidooly don't belong to a media background, we're from the product background. So, our DNA of the business is product and not content. We serve as a platform for the content developers and video makers to help them meet their revenue targets.
Nowadays, technology is speeding up and so is the growth of digital media. Lots of spends are being made on digital which will touch down the value of television in terms of viewership in return. So digital is now a well watched media platform where millions of people actually look at your creation whether it's in the form of text, video or sound.
If we talk about television, companies like BARC did ratings but as such there was no single transparent mechanism available for digital although there are many tools, for example, Alexa.com, that are present on social platforms to check the working and traffic on websites.
How has your partnership with Mindshare helped you clinch a formidable position in online marketing?
If I talk about the agency ecosystem, Mindshare is one of the premium agencies. Working with Mindshare has actually helped us understand the scenario as to what the market needs today. That helped us a lot in understanding what advertisers actually need, and through this partnership we were able to cater to few accounts who were convinced to spend money on online videos.
The major online shift we see today has a long way to go. Through this partnership we received good access from the network, opportunities to interact with different brands in the market, educate them on how they can spend intelligently on online video using our partnered product called Kyve.
In 2018 we plan to bring more penetration into the market. As lot of content creators are emerging, brands are also identifying different categories.
How important has video content become for marketers today?
Well for any marketer, it's a very important area because through video, you can actually tell the story. But some people are actually in a dilemma about how to spend on it. Today, whenever a marketer spends on digital, you can actually see the numbers and from day one, they start expecting returns, which they later call conversion. In conversion, they calculate sale, purchasing, etc. So if the content of video is good and liked by many, then at the end of the day, it will definitely give you a good sum of conversion. But now that doesn't come within a short span of time as such things take a while to scale up.
Also, different platforms have different altering conversions. For example, YouTube has it on maximum while Facebook and Instagram are yet on the slightly lower side.
So, every marketer should look at video as a long-term investment. Educating the audience and taking them through the entire journey is necessary. For example, as a clothing brand, if you plan about five to six campaigns throughout the year and you come up with new video for each quarter, that video can be used for powerful engagement, education and creation of awareness by targeting the audience differently. If you're telling a story in the right format and with the right strategy, then definitely all your targets will be fulfilled in the end.
What are the some of the best content practices to create sticky and engaging video content?
Well that depends from platform to platform. If I'm creating content for Facebook, then it becomes very important for me to understand the algorithms of Facebook video. For example, on Facebook, a three second video is considered the best whereas on YouTube it is completely different. So that shows that short form content, say of 3-5 seconds, works well on Facebook, while 3-4 minutes, long format video content, works well on YouTube. On Instagram, 15 seconds of content works really well. Now, while creating that content, one has to understand where and how should the story be displayed so as to drive the attention of the audience.
If I talk about television, the content produced for television is different and the duration is comparatively longer than what you consume online. So, the targeted audience on the right platform is the one easy formula, you could say, that drives stickiness for your content.
How is OTT impacting the viewership of television?
It's actually a very tricky question, but to make it simple I want to tell you that in the near future or far, television is not going to go anywhere far away from its place; TV is a legendary medium. Now if we talk about the Indian broadcasters, and it won't be a surprise to anybody, but mostly OTTs are launched by them. You can definitely exclude Netflix and Amazon but the rest of them are launched by the broadcasters themselves.
Now this is done for the distribution of a piece of content at different platforms. Additional point is that the traditional TV content is also being distributed on such platforms. Definitely, five years down the line, viewership of digital will exceed the viewership of TV, but yes TV is not moving out of the frame. If we look two years back when OTT was newly launched, there was no infrastructure. But now, with the launch of Jio, the consumption of content has increased domestically which is also resulting in the increased number of subscriptions. So, OTT will continue growing and TV will definitely keep innovating itself.
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