Day in and day out we toil to provide the best for our clients. Researching, attending various media summits and even picking the brains of our fellow coworkers. When campaigns become stagnant and even decline, we hunt for the next big thing.
In today’s world, we use online video for everything. Whether we want to bake a cake, start a garden, or catch up on a TV show, we look to online video for instruction, amusement, and enlightenment.
Online video spending in the United States increased by 44.5% in 2013 and will continue to increase year over year through 2018, according to a recent report from digital forecaster eMarketer. There are numerous reasons for eMarketer’s prediction. For starters, video has a much greater probability of capturing a user’s attention, proven by their brawny click thru rates. If you want success, it starts at the top of the funnel. This is crucial and not to be overlooked as the numbness to banner ads grows (I know mine has). Furthermore, the scale is here and it’s growing; eMarketer predicts nearly half the world’s population will have internet access by 2018. Further supporting the boom of online video is the rise of mobile complexity. Wireless companies are building faster networks in order to support the demand for streaming video.
“Internet users are content to watch snack-type content at their desks or on the go…” said Paul Verna, a senior analyst at eMarketer.
TV, but better?
TV still holds a dominant presence in the market for its massive reach and effectiveness to drive awareness and message association. Online video growth does not by any means signify a decline in other media channels, rather the pie is growing.
Video ads while providing the visual luxury nearly equivalent to TV, also leverages the technological features of digital media. Advanced targeting provides the ability to create custom channels (cable networks per say). Interactivity enables a user to engage an ad for greater periods of time. Moreover, the click ability enables advertisers to track the user and ultimately drive them down the funnel (cue the retargeting pool).
Viewable ads are becoming the standard
One of the biggest issues in display advertising is the vast number of ads that are poorly displayed, wasted impressions users don’t see. With the Google TrueView product, comes auction based Cost Per View (CPV) pricing. Advertisers are charged only when the viewer watches the first 30 seconds or clicks, whichever comes first. The opt-in nature of TrueView video ads provides a natural targeting element ridding viewers who have already seen your ad or who are not in-market.
Content in Crucial
In view or not, it takes a quality video with a strong and relevant message to capture a user. When it comes to video content, less is typically more, but quality is king. Regardless, both short form and long form videos should be created and utilized. Short form is typically more memorable, but long form will help drive awareness. Highlight the call to action (CTA) and test multiple variations. Video overlay and any companion banners should all include strong CTA’s, especially for direct response campaigns. Point being, users are more likely to trust and remember the information when presented in a well-produced video.
The ROI online video can provide is continuous. The strategy can be seamlessly integrated into existing campaigns. Online video tactics have the ability to complement and amplify other marketing channels. (E.g. reinforce TV campaigns). Possibly the greatest benefit of video is that it is shareable. When people watch something and enjoy it, they’re going to tell other people about it. Online video is becoming a more prevalent and obvious alternative to the much-despised mobile banner ad. We have reached a point where new advertising vehicles have a firm grasp on the industry (for good reason) and are here to stay.