The internet is a crowded space. Every brand has spent the last 10-20 years building a brand to stake their claim online. According to Insivia Tech more video content is uploaded online in 30 days than major U.S. television networks have created in 30 years. And brands aren’t just pumping out video content, we’re consuming it in vast amounts. According to Cisco, by 2021 over a million minutes (17,000 hours, or 708 days) of video content will cross global IP networks - every second.
YouTube has become the largest video content search engine, making it quite literally the Google of video. Every day 1.8 billion registered users watch over 5 billion videos, with 300+ hours of new content uploaded every minute. With this massive amount of content production, how can other video organizations like Vimeo hope to compete with a giant like Youtube? In their recent advertising campaign, Vimeo declared that they don’t plan to compete for YouTube’s audience. Rather, In a quote from the WSJ, Vimeo Chief Executive Anjali Sud said: “Really, we don’t compete with Netflix or YouTube for viewers. We are really instead focused on the people behind the camera,” - the creators.
“Vimeo can help*”
The new advertising campaign plays on this crowded digital space by showing people in crowded and awkward situations, followed with “Vimeo can help.*” The strategy aims to have more content created and posted on the platform rather than trying to get more eyes on the content. Marketers have known for years that video content is effective. The battle has been finding the best place to put it and which platform provided the most value.
What can your business take from this?
When your product or service is competing in a saturated market with market-share giants lurking, perhaps your goal, like Vimeo, shouldn’t be simply to compete for attention or increase the number of impressions - rather, compete for the value you add to your target market. We know there are certain consumables that will remain in demand, and hence these markets are heavily fought over. Taking the time to clearly identify your brand’s value proposition and deeply understanding your target customer will allow you to distinguish yourself from the competition.
If you want to understand more about identifying and crafting a value proposition strategy that is based on an understanding of your customer, you can contact us to learn about how we do exactly that. We utilize a unique and patented methodology to identify, intensify, and clarify your value proposition in a crowded and noisy market.