Case Study Description of Creating Online Videos That Engage Viewers
The Holy Grail of modern online marketing is video content that "goes viral,"meaning that it captures an enormous number of views and leads audiences to share, comment or click that they "like"a video. Various experts have ventured theories about what kind of content makes for a hit. The advice varies widely and is even contradictory. Depending on the expert, success is thought more likely if a video is humorous, shocking, dramatic, topical, warm, arousing, angry, scary, socially beneficial, cute, violent, sexy, uplifting, intriguing, quirky, interesting, authoritative, tear-jerking, educational, controversial or baby- and animal-filled. One of the reasons for the various views is that researchers have often looked at only popular videos and did not compare the popular clips with the content almost no one saw. To see if they could clarify some of the contradictions, the authors examined a mix of popular and unpopular videos, then systematically coded and empirically tested the effect of each element on some relatively objective and observational measures of viewer engagement. The authors assigned a team of research assistants to watch 750 videos and to independently score each on a range of attributes. Did the video feature babies, attempt to be funny or use sexually suggestive content? How would watching the video make the typical viewer feel? They collected information on dozens of different video elements and correlated these with three measures of engagement: the number of times people left comments on the video, the overall "liking"index for each video (calculated by subtracting the number of "dislikes"from "likes") and the number of views. The authors' key finding? Emotionally surprising videos generated liking and views more than any kind of specific content element they studied. The authors also looked at novel and incongruous content and found that both were associated with feelings of surprise, which increased views and liking. To get viewers' attention by surprising them, marketers have two good choices: Show viewers something they have never seen before, or show them two things they are familiar with but in an original, juxtaposed way. This is an MIT Sloan Management Review article.
Authors :: Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouz
Swot Analysis of "Creating Online Videos That Engage Viewers" written by Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouz includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Videos Video facing as an external strategic factors. Some of the topics covered in Creating Online Videos That Engage Viewers case study are - Strategic Management Strategies, and Sales & Marketing.
Some of the macro environment factors that can be used to understand the Creating Online Videos That Engage Viewers casestudy better are - – increasing energy prices, increasing household debt because of falling income levels, central banks are concerned over increasing inflation, talent flight as more people leaving formal jobs, increasing commodity prices, digital marketing is dominated by two big players Facebook and Google, technology disruption,
cloud computing is disrupting traditional business models, increasing transportation and logistics costs, etc
Introduction to SWOT Analysis of Creating Online Videos That Engage Viewers
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Creating Online Videos That Engage Viewers case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Videos Video, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Videos Video operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Creating Online Videos That Engage Viewers can be done for the following purposes –
1. Strategic planning using facts provided in Creating Online Videos That Engage Viewers case study
2. Improving business portfolio management of Videos Video
3. Assessing feasibility of the new initiative in Sales & Marketing field.
4. Making a Sales & Marketing topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Videos Video
Strengths Creating Online Videos That Engage Viewers | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Videos Video in Creating Online Videos That Engage Viewers Harvard Business Review case study are -
Successful track record of launching new products
– Videos Video has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Videos Video has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Innovation driven organization
– Videos Video is one of the most innovative firm in sector. Manager in Creating Online Videos That Engage Viewers Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Organizational Resilience of Videos Video
– The covid-19 pandemic has put organizational resilience at the centre of everthing that Videos Video does. Organizational resilience comprises - Financial Resilience, Operational Resilience, Technological Resilience, Organizational Resilience, Business Model Resilience, and Reputation Resilience.
Learning organization
- Videos Video is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Videos Video is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Creating Online Videos That Engage Viewers Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Cross disciplinary teams
– Horizontal connected teams at the Videos Video are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Analytics focus
– Videos Video is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouz can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
High switching costs
– The high switching costs that Videos Video has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Strong track record of project management
– Videos Video is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Sustainable margins compare to other players in Sales & Marketing industry
– Creating Online Videos That Engage Viewers firm has clearly differentiated products in the market place. This has enabled Videos Video to fetch slight price premium compare to the competitors in the Sales & Marketing industry. The sustainable margins have also helped Videos Video to invest into research and development (R&D) and innovation.
Training and development
– Videos Video has one of the best training and development program in the industry. The effectiveness of the training programs can be measured in Creating Online Videos That Engage Viewers Harvard Business Review case study by analyzing – employees retention, in-house promotion, loyalty, new venture initiation, lack of conflict, and high level of both employees and customer engagement.
Highly skilled collaborators
– Videos Video has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Creating Online Videos That Engage Viewers HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Ability to recruit top talent
– Videos Video is one of the leading recruiters in the industry. Managers in the Creating Online Videos That Engage Viewers are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Weaknesses Creating Online Videos That Engage Viewers | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Creating Online Videos That Engage Viewers are -
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Creating Online Videos That Engage Viewers, in the dynamic environment Videos Video has struggled to respond to the nimble upstart competition. Videos Video has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Aligning sales with marketing
– It come across in the case study Creating Online Videos That Engage Viewers that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case Creating Online Videos That Engage Viewers can leverage the sales team experience to cultivate customer relationships as Videos Video is planning to shift buying processes online.
Slow to strategic competitive environment developments
– As Creating Online Videos That Engage Viewers HBR case study mentions - Videos Video takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Videos Video supply chain. Even after few cautionary changes mentioned in the HBR case study - Creating Online Videos That Engage Viewers, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Videos Video vulnerable to further global disruptions in South East Asia.
Interest costs
– Compare to the competition, Videos Video has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Low market penetration in new markets
– Outside its home market of Videos Video, firm in the HBR case study Creating Online Videos That Engage Viewers needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Videos Video is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Creating Online Videos That Engage Viewers can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
High bargaining power of channel partners
– Because of the regulatory requirements, Dante Pirouz, Allison Johnson, Matthew Thomson, Raymond Pirouz suggests that, Videos Video is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
High operating costs
– Compare to the competitors, firm in the HBR case study Creating Online Videos That Engage Viewers has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Videos Video 's lucrative customers.
Compensation and incentives
– The revenue per employee as mentioned in the HBR case study Creating Online Videos That Engage Viewers, is just above the industry average. Videos Video needs to redesign the compensation structure and incentives to increase the revenue per employees. Some of the steps that it can take are – hiring more specialists on project basis, etc.
Slow decision making process
– As mentioned earlier in the report, Videos Video has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Videos Video even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Opportunities Creating Online Videos That Engage Viewers | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Creating Online Videos That Engage Viewers are -
Learning at scale
– Online learning technologies has now opened space for Videos Video to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Low interest rates
– Even though inflation is raising its head in most developed economies, Videos Video can still utilize the low interest rates to borrow money for capital investment. Secondly it can also use the increase of government spending in infrastructure projects to get new business.
Creating value in data economy
– The success of analytics program of Videos Video has opened avenues for new revenue streams for the organization in the industry. This can help Videos Video to build a more holistic ecosystem as suggested in the Creating Online Videos That Engage Viewers case study. Videos Video can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Videos Video to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Videos Video to hire the very best people irrespective of their geographical location.
Manufacturing automation
– Videos Video can use the latest technology developments to improve its manufacturing and designing process in Sales & Marketing segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Increase in government spending
– As the United States and other governments are increasing social spending and infrastructure spending to build economies post Covid-19, Videos Video can use these opportunities to build new business models that can help the communities that Videos Video operates in. Secondly it can use opportunities from government spending in Sales & Marketing sector.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Sales & Marketing industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Videos Video can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Videos Video can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Videos Video is facing challenges because of the dominance of functional experts in the organization. Creating Online Videos That Engage Viewers case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Lowering marketing communication costs
– 5G expansion will open new opportunities for Videos Video in the field of marketing communication. It will bring down the cost of doing business, provide technology platform to build new products in the Sales & Marketing segment, and it will provide faster access to the consumers.
Using analytics as competitive advantage
– Videos Video has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Creating Online Videos That Engage Viewers - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Videos Video to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Videos Video can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Sales & Marketing industry, but it has also influenced the consumer preferences. Videos Video can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Leveraging digital technologies
– Videos Video can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Threats Creating Online Videos That Engage Viewers External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Creating Online Videos That Engage Viewers are -
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Videos Video business can come under increasing regulations regarding data privacy, data security, etc.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Videos Video in the Sales & Marketing sector and impact the bottomline of the organization.
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Creating Online Videos That Engage Viewers, Videos Video may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Sales & Marketing .
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Videos Video can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Creating Online Videos That Engage Viewers .
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Stagnating economy with rate increase
– Videos Video can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Videos Video needs to understand the core reasons impacting the Sales & Marketing industry. This will help it in building a better workplace.
High dependence on third party suppliers
– Videos Video high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Videos Video in the Sales & Marketing industry. The Sales & Marketing industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Increasing wage structure of Videos Video
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Videos Video.
Environmental challenges
– Videos Video needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. Videos Video can take advantage of this fund but it will also bring new competitors in the Sales & Marketing industry.
Regulatory challenges
– Videos Video needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Sales & Marketing industry regulations.
Weighted SWOT Analysis of Creating Online Videos That Engage Viewers Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Creating Online Videos That Engage Viewers needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study Creating Online Videos That Engage Viewers is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study Creating Online Videos That Engage Viewers is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Creating Online Videos That Engage Viewers is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Videos Video needs to make to build a sustainable competitive advantage.
