In the last five years, the power and influence of video has skyrocketed. With many marketing channels becoming littered with the same noisy content, entrepreneurs are looking for authentic ways to connect with others. Investor and entrepreneur, Gary Vaynerchuk has been among the leaders in utilizing video content to help build his business and sell products. In 2006, Vaynerchuk created the YouTube channel, “Wine Library” to help create video content to recommend wines to consumers. With an energetic and charismatic personality, Gary grew his Wine Library Channel over the years and utilized the channel to help sales at his father’s brick and mortar shop in New Jersey. Today, Wine Library is just one of the many ways Gary is utilizing the power of video and YouTube to develop his brand.
Over the last five years, YouTube has seen “vlogging” (video blogging) take off. Thanks to creators like Casey Niestat, known for producing several viral videos, tens of thousands of people across the world are picking up their video cameras to film their everyday lives. While considered one of the most popular vloggers and among the first to start, Casey has built his YouTube channel to nearly 10 million subscribers. Casey and other entrepreneur vloggers explain that creating a daily video helps them think creatively and it challenges them to always put themselves on display for others to judge—Sometimes with harsh criticism.
While the number of people vlogging about their daily life is growing rapidly, the popularity of these individuals is taking off. When a video showcases the compelling story an authenticity of an entrepreneur struggling to build a tech startup company, people are fascinated with the storyline and can often times relate to the vlogger on the other side of the country. With the millenial and Gen X generations glued to their cell phones, video content is creating an engaging and loyal following in ways that written text has never seen before.
In hopes of competing with the giant YouTube, Instagram recently released IGTV (Instagram TV). Users on Instagram had always been able to upload 60-second video clips, but with the rollout of IGTV, users can now record videos up to one hour in length. With this new feature, Instagram is expected to mirror that of YouTube by building a monetization options for popular Instagram creators. Instagram recognizes the significant market share that YouTube has, but is hopeful they can start luring over famous YouTubers with shiny new features.