You too can you tube: since many of today's bank customers and prospects are already watching online video on websites like YouTube, it's easy for banks to reach this audience by developing and posting their own videos. Here's how to create YouTube messages that add value and resonate with the consumer.

• Author: Farley, Amber

ONLINE VIDEO IS NOTHING MORE THAN A PASSING TREND. Right? Wrong! Online video consumption is not a fad; it is here to stay.

In fact, the online video industry is growing more rapidly than ever. The marketing research company comScore reported that in August 2010, 178.1 million Internet users in the United States watched online video for an average of 14.3 hours a viewer. Google websites, primarily YouTube, ranked at the top, with 146.3 million unique viewers.

According to ClickZ, Internet users between the ages of 18 and 34 now spend almost 25 percent of their video viewing time online. Although 52 percent of total TV time is still represented by live TV, online is the most popular alternative. EMarketer reported that about 85 percent of 18 - to 34-year-olds watch online video at least once a month and Retrevo reported that 23 percent of Web users under the age of 25 actually watch most of their TV online.

If your bank customer is there, shouldn't you be there too?

Why the surge in online video popularity?

Video is an outlet that lets people express themselves differently from other forms of communication. Video typically offers a quick way to share thoughts, advice, music, enduring moments and laughs. Prior to 2005, video footage was typically created by production companies and was used to "push" out content and information to an audience. Video footage was delivered via a specific medium and timeframe to its audience. Typically, ordinary people did not have the resources to create a film or TV show and share it with millions of people, nor were they able to interact with the video footage or watch it at their leisure.

How the times have changed! Due to advancements in technology and social networking software, online video websites like YouTube give Internet users the ability to create, upload and share user-generated videos with an unlimited number of individuals. Online video is a compelling way to spread your message, as long as the right sharing tools are in place. Making your video easily accessible and sharable is part of the formula that increases your chance of it becoming a viral phenomenon (see sidebar).

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What do viewers watch online?

When you think of YouTube, you probably immediately think of comedy or humorous video footage, and rightfully so. According to Pew Research Center Publications, humorous footage is the number one watched format online, followed by news, education, movies/TV shows, music, politics, cartoons, sports and commercials. YouTube is often overlooked as a tool or resource for bank business development. However, it has proven to be a valuable tool for many financial institutions.

How are community banks utilizing YouTube?

Community banks are by definition close to their communities. The...