Late last week, Twitter and the blogosphere were abuzz about Facebook's video strategy--thanks to this TechCrunch article that reported on a leaked Facebook deck. This "not for distribution" deck was purportedly intended to help Facebook's ad tech partners better position the social network as an alternative to traditional TV or YouTube advertising (the company's video ads will officially "go live" this week). At the very least, TechCrunch's assessment started a fervent dialogue surrounding Facebook's long-term plans, and prospects, for video.
What's my take?
The rarest commodity is true love. The next most rare commodity is consumer attention--and Facebook has more of it than any individual TV channel or network. And, video delivers more engagement and consumer value per second than any other content type. Put these together and it is no surprise that Facebook is attacking YouTube and traditional television.
This epic battle for these hyper-valuable ad dollars will be fun to watch, but the real question brands should be asking is not which platform can get them more consumer attention, but what they will do with the consumer attention once they have it. Brands must find their audience on Facebook, and then get them out of Facebook and into their nameyourbrand.com-owned media properties where they enjoy 100 percent share-of-voice and can actually convert viewers into loyal, loving buyers. This perspective--and plan of action--is true for YouTube today and it will be true for Facebook and Twitter tomorrow.
Savvy brands will pit all of the consumer attention platforms (TV, YouTube, Facebook and Twitter) against each other to get more attention for lower prices than ever, plow these savings into their owned media properties and laugh their way to the bank. It's a brand-owned world, and Facebook just lives in it.