ATLANTA - Video sharing sites such as YouTube, Yahoo Video and Google Video have had such a surge in popularity that many financial institutions exploring the advertising opportunities of these sites, according to a new study.
SYNERGISTICS reported its most recent online survey found more than two-thirds (69%) of those who visit these sites respond positively to financial institutions using these sites to convey information about their products.
More than one-third (36%) say it’s OK, but a little unusual because most people go to those sites for entertainment not information. Another one-third (34%) say it’s a useful and effective channel for reaching consumers. One in eight (12%) say it is a waste of time, while less than one-tenth (7%) feel that an institution would be risking its reputation and credibility by placing a video on a site like these, the survey found.
“Online information channels with content that is controlled by users, such as video sharing sites like YouTube, are emerging forces in the marketing mix,” said SYNERGISTICS CEO William H. McCracken. “Providers will need to decide if and how to integrate these new online channels into their marketing strategies. While consumers generally respond positively to providers using video sharing sites for relaying product information, they may need to be cautious about posting content on these sites because of the potential for negative feedback in a very public forum.”
For more info: www.synergisticsresearch.com.(c) 2008 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved.http://www.cujournal.com http://www.sourcemedia.com
