Owned Media: Best Buy Media Network
Compete
Best Buy On, Best Buy’s in-store and online video network had 83,896 unique visitors in April.
That’s up from 2,085 in April 2010.
Traffic peaked during the last 12 months in January at 268,880 unique visitors, during the Consumer Electronics Show.
BestBuyOn.com Traffic
THOUGHT: When I first learned about BestBuyOn.com, I thought the company was being very smart in creating their own video channel. But then it came out that the purpose of the network was to drive advertising revenue…they planned to use the content to sell ads.
Seems a little old skool, but fine; it could work.
Then I read eMarketer’s interview with Bill Anderson is vice president and executive creative director for Best Buy Media Network, who said…
“The business model for Best Buy Media Network isn’t based on video contributing to sales lift and conversion. It’s based upon ad sales.”
Oh-kaayyy, understood. But later he said…
“We are approaching the metrics like a media company, so we’re looking at engagement, duration, time spent, video stops and starts. We are not currently tracking sales conversion as a result of video views.” [Emphasis mine.]
Really? Really?!?
You don’t even want to know, then, huh? You’ve got this huge audience who is interested in the content you sell and you don’t even want to track whether or not your content has an effect on sales?
I guess I understand that Best Buy wants to make a statement about the integrity of the video content itself but it’s not like they can’t have their cake and eat it too, here. Everyone knows Best Buy makes money selling consumer electronics, so the assumption will always be there that their goal is to drive sales, regardless of what you say.
Go with it. The quality video content will stand on its own if it’s valuable content and not merely salesy pitches. And if it’s quality content, it’s likely to drive sales.
So track it!
I confess to being a little baffled. Best Buy has a golden opportunity to figure out what everyone wants to know: What effect does video content have on driving sales?
You’d be crazy not to want to learn that.
SUPER COOL TOOL TUESDAY: Google Advisor, a one-stop-shop for consumers looking for mortgages, credit cards, checking and savings accounts, and certificates of deposit.
Thank you for colors. The world would be rather monochromatic without them.
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