Trend Alert: How video is dominating the digital ad space24 June, 2020
You can’t escape it – they’re on your Facebook feed, you’re being targeted by them on Instagram, you logon to your doctor’s homepage and there’s another one, and even when you think it’s over, your Netflix show is interrupted by VIDEO! There’s no denying video is everywhere – and it’s here to stay!
Not only do we know this from our own personal habits that users prefer to consume media served in bit sized digestible and aesthetic nuggets, but this notion is also backed by the IAB Video Advertising Spend Report which indicates that digital ad video spend has been increasing by 25% year-over-year since 2017. 1 We’ve been experiencing this trend first-hand from most of our clients who are chomping at the bit forin order to level the playing field on social media channels amongst competitors. We’re here to break down the what, where, when and why should we care about video content?
Everyone’s doing it! But no seriously, everyone is generating. By now we know leveraging videos is just the cost to play these days, so how do you get your brand to stand out from the rest? Our audiences are growing smarter and more versed in media consumption. They no longer want those hard-hitting sales pitches thrown their way - they want cinemographs, unique animations, condensed looping, and user generated content. The best way to is by getting storytellers and brand advocates to do it for you in either quick interview style or even just show real people using your product or benefiting from your services. Essentially, replicating word of mouth marketing by showing real-life usage.
To what can we attribute this significant growth from videos in the? According to the same IAB report:
“The core benefit of advertising with original video content is the ability to serve up custom creative in the form of high-impact branding and prominent placements. Increased targeting options, custom product integrations, and a “less cluttered” ad environment were also factors contributing to the uptrend in original video ad spend.”
Basically, indicating that the landscape for advertising is changing as video content becomes more readily accessible.
Over the Top (OTT) providers are allowing marketers and clients to highly target audience types, using ad insertions andto create customized/personalized ads. Because of the OTT platform, users are unable to skip or X out of these ads, therefore increasing completion rates significantly.
Additionally, the almost ambiguous use of mobile phones to consume media is allowing marketers to tailor video content to be best served at consumers fingertips…literally. With video dominating engagement on social media and as we see consumption rates continue to climb, we are seeing a social media forward approach where videos are recorded vertically in order to be best viewed on social media channels (i.e. IGTV and Instagram stories.)
According to the same report, audiences are consuming digital content at a much higher rate than ever before. By having media readily available with just a tap, consumers are constantly digesting and being served ad videos. Geo-targeting also allows brick and motor companies, or nonprofit fundraising events, to serve up Instagram ads when you’re at their location. So, when you go to post a picture on your Insta story of the fundraising 5k you just completed, it’s no coincidence you will get served a video ad that tugs at your heartstrings asking you to donate to the run’s fundraiser.
Because everyone’s doing it? In order to have a successful and full surround marketing campaign a significant amount of ad dollars must be designated to video advertising. And not only because everyone is doing it, but because it is the best content to accurately tell your story, accomplish your objectives, amplify your brand, target specific audience types, leverage storytelling, reduce sales pitch burn out and significantly increase ROI.
And if that’s not reason enough – we’ve compiled a few of our top performing brands that have successfully leveraged video to bring in new clients and attract qualified employees, all while elevating their brand story.
1. IAB Video Advertising Spend Report. 2019 Digital Content NewFronts. April, 2019. Commissioned Partner, Advertiser Perceptions. Accessed 6/18/2020. https://www.iab.com/wp-content/uploads/2019/04/IAB-Video-Advertising-Spend-Report-Final-2019.pdf