Standard online video formats....Is it necessary?

I just got back from a business trip to Dallas where I had an opportunity to meet with a number of interactive agencies, in addition to the heads of the interactive divisions for some large brands. It was interesting to hear about the varying types of objectives when using video online. One of the main reasons for the trip was to present Vimation's capabilities for making online video more interactive and engaging. During the course of several days of meetings, we uncovered at least 10-20 different variations in which online video was being used. It was great to see that this singular platform could meet the needs of every client we met with, without ever broaching the subject of needing a "standard format".

I read the following article from Business Week where they were talking about all these high profile companies that have joined "The Pool" to help develop online standards for video. To me this is just another attempt at the software and media giants trying to capitalize on keeping agencies and clients "inside the box", thereby creating new ways for them to retain control of the message and charge you for it. Who says that consumers want to have standards? What made a "30-second spot" so effective?

The reality is that standardization provides the networks and media agencies with a standard for pricing. I think what's really going on here is that these companies realize that the online "pre-roll ad" is not working, and that consumers are not always willing to sit through these ads to get to the content. Secondly, the consumers don't want to pay for anything and they're not willing to provide their information. This has forced online video to be monetized solely through the pre-roll or interstitial ads, or even subscription based content. The winners like You Tube have come out on top only because they had the largest audience. My thought is that if consumers had other means to host their content online, they wouldn't necessarily be posting it on YouTube. This just happens to be the easiest way right now to post your own content and get an audience, while also providing a simple syndication method using their embed tags.

As online video and new technologies continue to evolve over time, consumers are going to become more picky about what they watch and how they choose to engage with their chosen media. Companies will need to become more savvy and steer towards personalization, the ultimate "one to one" conversation. Sure, when online banners first came out on the web, the metrics were great, but no one had seen this before. Then we moved to rich media units from companies like PointRoll and EyeWonder and they introduced things like page takeovers, interstitials, video slide out panels and much more. Even these units and their success are beginning to fade in the eyes of the consumer. People want to engage on their own terms.

Through the use of an online video platform, like the one Vimation offers, brands and agencies can do just that. In the movie "What a Woman Wants" with Mel Gibson, one of my favorite movies about the advertising world, they came up with the tag line for Nike, "No Games. Just Sports." In the same vein, companies should be saying "No Games. Just Engage." Give your customers the choice to engage with your online video, not in a "boxed in" format, but how they choose, and you'll experience a lot more success.

To learn more about what you can do with online video, please post your comments and I will be happy to answer your questions.