We are witnessing a change in the way media is consumed and the way the entire consumer shopping experience has changed. Consumers are finally in control, and they are consuming media when they want, where they want, and how they want. Video sharing sites and social networking sites have emerged as major factors in the culture of communication among Internet users.
Video consumption on the Web is rapidly approaching the tipping point for advertisers as streaming video is becoming increasingly popular among leading consumer website genres such as media and entertainment, news, social networking, footwear and apparel, automobiles, and major search engines, just to name a few.
According to recent research from comScore Media Metrix, Americans viewed more than 11.4 billion videos for a total duration of 558 million hours during July 2008 and YouTube alone drew in 5 Billion U.S. online video views. comScore also states that 75% of the total U.S. Internet audience viewed online video.
As budgets tighten, companies look to cut spending in order to stay competitive. However, companies need to remember the importance of having a strong Internet presence coupled with their print presence. Online video is a very effective and cost efficient Internet strategy.
The multi-family housing apartment industry is tapping into these trends to create a new and innovative way to help property managers attract clients, advertise their community and boost sales for their developments. ForRent.com’s
Community TheaterTM streaming video product is a great advertising solution for property managers and owners. This professionally produced video allows consumers to view features and amenities of apartment communities nationwide. As a complement to the virtual tour, Community Theater will not only give prospective renters a glimpse into a property’s units and amenities, but the surrounding city and community that the property is located in, as well. View our Community Theater product video here.
ForRent.com enables property managers and owners to reach more apartment renters by pushing Community Theater videos to our video syndication network. Our network includes major search engines like GoogleTM and Yahoo!®, social networking sites such as MySpace®, video-sharing sites including YouTubeTM and metacafe and many more that reach hundreds of millions.
Online video raises the bar for multi-family housing professionals and property managers looking to attract potential clients. Professionals who choose to utilize online video to drive traffic to their site, have the opportunity to build their company’s brand awareness as well as raise company perception to their audience.
We can expect many positive changes in the future of online video advertising. According to an eMarketer report, video ad spend is expected to reach $775 million in 2007 from $410 million in 2006 and video online spending by marketers will increase 89% in 2007 over 2006. In addition, 66% of Americans watch online video advertisements and 46% take action on what they’ve seen. If others in the multi-family housing industry take advantage of the many opportunities that this new form of advertising can create, it will prove to be a beneficial investment.