in fact, If your video have good enough content will attract the people's eyes, You can bring more traffic to your website.
good keywords, video responses, quality video, it all helps a great deal, but you might find the competition is either too big, or has some sort of advantage. the "gray" way to go past this is to use a youtube tool, software that adds views to your video thus helps promoting it. YT however has a way of rendering these programs useless, or at least the ones that work using the conventional "bot" ways. Latest breakthrough against this is adding real views through a complex vpn network. squidoo.com/YTPromo for more info
Of course the content. If the video is good people will spread the word naturally. Keywords are important to show up on related searches and related sidebar videos. Also keep an eye on the thumbnail...
I tried building backlinks to my youtube video, it has been a few weeks and no increase in views. But youtube videos can be weird, sometimes they take off right away, sometimes after a month or 2.
I had done the same but its not that much effective for me http://www.youtube.com/watch?v=407c9GUliBo
This is a brilliant thread! I want to thank everyone who contributed their insights and opinions - I am going to put them to work. I would be happy to share my results if someone ends up reminding me in a few days/weeks from this post