By Simon Palan
Gone are the days when Australian web users had to wait minutes for a video to load.
Big delays and heavy cost blowouts are a defining feature of the National Broadband Network. The continuing NBN rollout has come under wide-spread criticism, but despite its short comings and bad press, it is helping to trigger a boom in online corporate video content.
The latest NBN data shows more than one million Australian homes and businesses are able to connect to the NBN and nearly 500,000 have actually done so. On top of the NBN rollout, continual upgrades by telcos and improvements in device technology are lifting internet speeds in Australia, albeit slowly.
Gone are the days when Australian web users had to wait minutes for a video to load. We can now easily watch video content while on the move on our mobile phones. These improvements are leading growing numbers of small and medium size businesses to harness the power of online video.
From professional services and government departments to retail and hospitality, businesses of all types are producing their own video marketing content and hosting it on their websites, social media and email. A recent report by Cisco shows video is projected to make up 81 per cent of internet traffic by 2019. The video explosion is also fuelled by the arrival of subscription streaming TV and movie services like Netflix.
Web video allows businesses to tell their story and connect with their customers in a visual and highly engaging way. Business owners say video is an excellent way to introduce themselves to potential clients and also to show how their products and services work. For many time-poor consumers, reading words on a page is simply not an option. According to Forrester research, watching a one-minute video has the impact of reading 1.8 million words. It’s perhaps no surprise then that consumers who view online product videos are 85 per cent more likely to make a purchase.
Rapid technology advances have seen video production costs fall markedly over the last decade, without any impact on quality. Equipment is more mobile and in some cases easier to use, meaning high-quality videos can be produced cost-effectively and quickly.
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