Innovid, the world’s leading video marketing platform, yesterday announced the release of its survey report titled, “Where are Brand Marketers Taking Their Video Strategy in 2018?” the survey was conducted over the summer by Brand Innovators and partnership with Innovid and was completed by 140 marketing executives of top brands. The survey asked marketers a few questions including how they perceive their brands’ adoption of the latest video advertising strategies, their beliefs about integrating data, their adoption of KPIs to determine success, and what their plans and expectations are for 2018 regarding using video to connect with their consumes.
According to the survey results, very few marketers thought they used cutting edge technology or innovations when it came to video marketing strategies to appeal to their consumers with only six percent perceiving their brands as innovators in video marketing. However, about 80% of marketers had an optimist marketing visor for the coming year with most stating that they would boost their video advertising to better connect with their audience.
“Innovid partnered with Brand Innovators to conduct this survey hoping get honest feedback from leading companies about their video marketing efforts and expectations for the future,” said Beth-Ann Eason, president, Innovid. “Many marketers seem to be coming down hard on their own video marketing efforts, but it is also clear that there is so much untapped potential and optimism about video marketing and its impact on consumers to be harnessed in the year to come. Innovid’s expertise in partnering with brands to develop video marketing strategies enables them to solve real business problems through data-driven creative campaigns with concrete measurement and results.”
Other key findings from the study include:
- Marketers are being held back by three key hurdles: budget, lack of in-house expertise and prioritization.
- Funding is the gating factor in video advertising volume for the vast majority of marketers, though 79 percent of companies will be increasing their video advertising efforts in 2018.
- Marketers are uninformed about the costs associated with deploying customized video ads. 45 percent of respondents don’t believe that creative can be customized into hundreds of variants for less than $20,000.
- Facebook and YouTube currently dominate the overall video ad spend, while mobile, which currently accounts for a quarter of ad spend, is still somewhat of an afterthought. OTT video platforms currently account for 9 percent of video ad spend and are expected to rise significantly.
