Digital video has become an attractive platform for many marketers to reach an ever increasing online audience. A Business Insider report in August 2014 showed that US online video ad will grow at a 3 year compound rate of 19.5 % annually reaching $5 billion in 2016 from $2.8 billion in 2013. As more and more viewers shift from TV to online consumption, marketers have an opportunity to integrate video into marketing campaigns. Video remains an effective means to grow brand presence and consumer loyalty owing to its rich and compelling way of telling stories. It has the ability to connect with consumers on emotional and practical levels and works well as part of digital and TV channels to reach an even bigger audience. To successfully incorporate video in campaigns however, marketers need to keep the following in mind.
There is a marked difference between TV and online audience. Owing to the immediate nature of web content, the online audience tends to have a short attention span. Multichannel formats and shorter videos therefore work best with this audience. Understanding what content this audience watch and where they watch it is equally important, luckily this data can easily be mined on the web with the help of online tools. With deeper insights, marketers are in a better position to make the most of videos.
Of all digital ads, video ads have the highest click thru rate that averages at 1.84% this is according to a report by Business Insider. To gain the high engagement though, sophisticated algorithms are employed to measure ad impact using among others quartile completion metric. Media buys can then focus on the successful and relevant elements. Another key optimization element is effectively attributing results to specific channels of the multichannel campaign. Marketers therefore need to track and analyze the role of online videos in the purchase funnel more so for high funnel video ads meant for branding as opposed to driving sales.
Of course, video campaign should have measurable objectives and goals just like any other ad campaign. Measurability helps marketers evaluate effectiveness and justify spending, to do this, marketers should ensure they set clear goals including frequency, engagement, exposure and reach.