Twitter and Pandora are the two newest sites to introduce video advertising capabilities as a way to attract advertisers.
According to a May 28 Business2Community article, each site has more than 250 million users around the world, and each site is hoping to draw in advertisers that hope to reach these users with video ads.
So far, Twitter, on which 700 videos are shared each minute, has just experimented with the concept of video advertising. When a user types in a hashtag, a pop-up will appear that allows the user to embed a video in his or her tweet. Since tweets featuring video are 38% more likely to be re-tweeted than those without video, according to Business2Community.
In addition to playing video advertisements between songs, Pandora is also investing in its own original video content. According to Business2Community, Pandora saw success with its Toyota Sessions, which was a custom Pandora station with audio and video profiles of emerging artists’ lives and careers.
Many recent surveys and studies have proven online video marketing to be one of the most effective ways for brands to reach consumers. More than 60% of consumers will watch a video that gives them information about a product they plan to purchase for at least two minutes; in addition, consumers who viewed video are 174% more likely to make a purchase than those who didn’t.
Twitter and Pandora’s executives seem to understand that video advertisements boast many benefits, and are taking advantage of these benefits as a result.