Video Marketing Question.

It depends on your purpose. Are you trying to get blog traffic or sell the product?

It depends on how you have created your video. If your video is promoting the product itself, you should link towards the sells page. If your video is talking about anything broad, blog link is the right choice.

It really depends. If the product page is high converting, then by all means link directly. Otherwise, link to your blog to pre-sale the leads before sending them to the product page.

What exactly does converting a product mean. I am totally lost. Please explain it to me in simple terms please.

I would try to mix things round a bit.
You don't want links going always to the same pages.

My advise is to try everything. Build a list, do the followups, change offers, etc. If none of that works try and try again. If you just get to the point of where you're sick and tired of it, you can't go wrong moving on and just allowing that traffic to go straight to the sales page.

My story:
I'm dealing with this issue right now. I've got a video series getting around 3,000+ views a day (Close to 1 million views so far). Maybe more. I was getting sales but wanted more so I decided to build a list.

Setup a squeeze page and it gets around 15 to 25 optins per day (just stopped building that list today). I did what I felt was good content; gave them what they wanted over a 4 day span because it's too much information for 1 email.

Even put stories and testimonials inside each email.

Long story short, with a 10 email followup, haven't made 1 sale in weeks; and I'm not even selling anything in the first few emails because I tried to initially and didn't make any sales. I'm at the point now where it's screw that list because I'm not really passionate about that niche. Just driving clicks to the sales page....

There are some niches where people are just so skeptical that you have to really put in a lot to build a relationship with them and due to the nature of the offer (I'm not a woman), I can only go so far. :-(

I would send them to an opt-in page first, and then sell the product after that (a one-time offer page) and then follow-up with them until they buy the product. I've had some success doing this using YouTube videos and including the link to my squeeze page in the description.

Send them to a squeeze page.
Collect their email address and write a 10 email follow up series.
After they opt in you can direct them to the product.
In the email follow ups you can add the link again as well as promote other items.

A link to your blog. At least this way, there's a possibility that you can build a list from your blog, and notify them when you have new content on your site. Offer products/adsense on your site, and both incomes will increase over time.