An annual government affairs conference inspired the first streaming video. Many people from the state were unable to attend, so Adams and his team decided to take the video crew on the road and do a "live from the event" broadcast that could stream through the website. The live event proved to be such a success that they've done it for five consecutive years.
Another channel, the Credit Union Compliance Connection, offers 100 different vignettes dealing with compliance issues and has become CUBE TV's most popular channel.
Dave Adams, CEO of the Michigan Credit Union League, says he hopes to be able to sell his organization's videos as a way of driving revenue from ads, among other things.
The site currently has 128 videos available, up from 112 in 2011, and was on track to reach 150 by the end of 2012. Currently, two other credit union leagues, Georgia and Illinois, provide CUBE TV on their websites.
There's been a 200% increase in video views, from just over 8,800 in 2011 to 18,000 in 2012, Adams says. He admits, however, that the videos still need some improvement. "We're still working on the functionality in the streaming quality," he says.
Adams hopes to eventually leverage a national delivery system, which would involve selling the video service to state associations for a nominal fee. These other associations could plug the videos into their websites and potentially be able to share advertising revenue with the state associations in their markets, Adams explains. "If we build a national market within the credit industry we might be able to attract sufficient traffic to become an attractive advertising spot for certain companies as well."
Selling niche products
Jeff McRitchie, vice president of marketing for MyBinding.com of Hillsboro, Ore., jumped into video marketing in early 2011. As an online retailer specializing in binding machines, laminators and the supplies that go with them, McRitchie had a feeling that videos would set him apart from his competition.
"We're not the lowest price in our industry so we have to work to establish ourselves as experts," he says.
A MyBinding.com video posted on YouTube in April 2012.
McRitchie experimented with a number of different strategies before finding a formula that worked. Initially he posted his suppliers' videos with their permission. "It was the easiest way to get video on our channel," says McRitchie.