What is online video platform? To elaborate, an online video platform is a service which allows the consumer to upload, alter, store and replay video content using the Internet.
The advertising industry is at its peak to offer and meet the demand of the customers. Thus, they can choose from a wide-variety of choices, it helps companies to evaluate their consumers’ activities.
Furthermore, consumers want to use videos in terms for researching, amusement and getting informed of the latest brands. Considerably the brands can now easily reach the users using the cross-channel video advertising.
It establishes a foundation for the consumer to cater the brand distributed by several digital media and related devices. Advertising used to be précised, focused and suitable as most consumers presume about it. Most consumers don’t look at videos that don’t interest them.
The content of video advertising can motivate and can suffice the demand of the consumers.
Thus, makes the brand to educate and divert the attention of the consumer, which establishes the compelling platform for transformation, when it is properly directed thru the consumer behavioral array.
To expand the brand consciousness and portability, brands can carry content rich videos along usual channels.
For the previous years, the use of online videos was wide spreading very fast as the days gone by. Innovation in the Internet and trends were occurring continuously among television networks and Web proprietors that deal online video content.
Nowadays watching and sharing videos using the internet were seemingly contagious.
Almost everyone goes to online video platforms instead of watching television. Thus, the mere fact that the switching among audiences to view the online video platform will greatly affect the television networks as well as limiting the chances in generating more revenues.
On the other hand, viewing and sharing without permission is allowed in online video platforms. Because of this fact, it is hard to apprehend whether the online video platform can threaten the television industry.
But still, it is up to the consumers whether the traditional way or the innovative way. Consumers prefer to choose online platforms instead of television, in terms of the content, technology and cost-efficient attributes.
Here are some advantages of using an online video platform:
Qualified advantage
To explain further, the conversion to the latest form of media technology, diffusion of innovations theory can be of great help. This states that consumers are encouraged because of modernization over different platforms.
These features are relevant aspects that contribute to the conversion of the modernize technology.
Content
It is undoubtedly obvious that the triumph of any form of media relays on the contents itself. For example, T.V.s replaced radios because of its reasonable content and features.
Using an online media can be of great advantage because websites have a large capacity to store unlimited content. Online video platform content must have these two aspects the content selection and the complete content quality.
Technology
Modern technology comes with several innovations which enable the consumer to divert into this latest scheme. Constant Updating of the content on the online video platform is one of the distinctive benefits when using the new form of medium compared to the obsolete one.
It can also suggest several search resources as well as a consumer can interact with it.
Along with the advantages are several disadvantages, despite the essential features. A good example to these, are the usage of online media and the mobile device. The use of the mobile devices to transmit the content offer chances to think of another form of technological features of online media.
The use of mobile can agitate the technological qualities like disrupt of the mobile device, the quality of transmission and the speed of transmitting data. Consequently, a recent study said that good internet connection is hard to find and there are high costs.
Cost
Cost-efficiency is important. Cost should be reasonable enough for the consumer to decide which of the medium or system they would accept. Internet and video as online video platforms contribute to the economic profits and encourages the consumer to use these platforms.
Cost-efficiency is important when choosing a platform. Expenses for the service provider are transaction costs. Perceived price, known as the subjective view of the actual price of the product.
Consumers thought that everything they view online was free, but there are some that require charges for opening their site. On the other hand, the non-pecuniary cost referred to the time consumed in looking for a product. Pricing between the two mediums can help the consumer to which one they should choose.
But several consumers find online videos to offer more reasonable cost than the television apparent cost advantage from viewing online.
Furthermore, search costs define the performance of the consumer and market structures. It includes the cost of the time spent in searching, as well as the costs for computers, magazines contribution etc.
Online platform enables the consumer to easily search for their desired product thus lessening the search cost. Therefore, the transaction cost greatly affects the consumer’s’ view with regards to the online video platform.
As a result, these are determinants that online video platforms are better than T.V. ads. Technology, content and cost-related features will affect the behavior of the consumer in choosing their desired platform for online video.