You may try iDealshare VideoGo or Allavsoft to convert MP4 to PowerPoint supported format.
Below is difference between them:
iDealshare VideoGo is just the right MP4 to PowerPoint Converter which can convert all kinds of MP4 to PowerPoint supported WMV, AVI, ASF, MPG, SWF, MP4. Besides converting MP4 to PowerPoint, it also helps to convert any other video formats including MOV, M4V, FLV, F4V, MKV, 3GP, WTV, DVR, MXF, Apple ProRes, RMVB, DV, VOB, MTS, AVCHD, OGV, WebM, and etc to PowerPoint video or audio format. It even supports to convert FLAC, OGG, APE, 3GA, M4A, M4B, QCP, VOC, DTS, RA, AC3, CAF and etc to PowerPoint compatible AIFF, MP3, WMA, WAV, AU.
Step by step guide at
http://www.idealshare.net/video-converter/mp4-in-powerpoint.html
Allavsoft is the most convenient MP4 to PowerPoint converter, the more exciting point is that it can download YouTube and other online videos to PowerPoint or convert local videos to PPT.
Detailed guide at
http://www.allavsoft.com/how-to/insert-mp4-into-powerpoint.html