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What You Should Consider Before Jumping on the Online Video Ad Bandwagon
Amanda DeMaio, Media Supervisor
May 9, 2012
There’s no question online video advertising is here to stay. In a recent report from Comscore Video Metrix , Americans watched nearly 37 billion online content videos and viewed more than 8.3 billion video ads in March 2012, a new record for the digital medium. The real question is: what does this mean for your brand? Should you jump on the bandwagon simply because there is an increase in investment of advertising dollars? Before you consider shelling out big bucks, there are a couple items to consider:
What Does Success Mean to You for a Video Campaign?
According to a poll conducted in the 2012 Q1 State of the Video Industry Report from Adapt.TV and Digiday, "Nearly three-quarters (73%) of brands and ad professionals cite brand building as their main objective with online video marketing, up from the 68% who said so a year earlier."
If you are looking to acquire an immediate acquisition, this may not be the right forum for you. Video advertising can be expensive and is often a pre-cursor to something the consumer is more interested in. While you might catch their attention, they likely aren't going to leave the content they were previously watching to make a significant purchase elsewhere.
That is not to say a video campaign is not a successful tactic to drive traffic; CTR’s can average four to seven times more than that of online banner advertisements. But actions don’t always equal conversions. Deciding if your video ad "worked" will be more about measuring brand perception and consideration lift versus sales or lead generation.
Not All Video Ads Are Created Equal
In an ad format where you expect to retain the consumers’ attention for at least 15 seconds, it is important that your message is impactful and resonates with the viewer. Know your audience, communicate a relevant message, and keep creative simple, concise and clean. Consider creative branding alignment with your television advertisements but remember: This does not always mean just repurposing TV ads into an online format. For an online spot, consider soliciting a response online such as directing the viewer to check out your brand’s preferred social media hub for more content.
Create a Cross-Tactic Approach
"Among brands, agencies, publishers, and ad networks surveyed, nearly one-half (49%) say video should be more aligned with TV, whereas 40% say video should be more aligned with online display; 11% are still unsure whether online video represents a new medium entirely."Unfortunately, the question over where online video “belongs” is often more a result of the tug-a-war of offline and online media dollars.
What is more compelling is the impact of utilizing online video ads in conjunction with other mediums to encourage interaction. A recent YouTube/Ipsos study found that brand recall doubles when online video ads runs along a TV ad schedule. Take advantage of the opportunity to reach your consumer across multiple media devices and consider mobilizing your ad video. EMarketer reports that over 25% of mobile phone users are expected to watch video on their device at least once per month this year, and that percentage will jump to over 40% in 2016. Given some of the pricing models, mobile can also be an extremely cost effective vehicle to drive engagement.
And speaking of cost data – Once you’ve decided if video ads are a fit for your brand objectives, you should contact your brand’s media team about the tactical implications for where, when and how to buy!