Advertiser are shifting funding from standard banners and rich media to online video because it’s bringing major benefits to their companies. But they’re still advertising on television making online video a compliment to TV rather than an alternative to it.
A study by Brightroll is showing that at least 85% of the ad agencies said spending was moving from other types of advertising to online video. Moving funds from television, though, wasn’t happening as one might expect, with less than 65% of all agencies doing so. Companies that were pulling funds from TV were doing so in much smaller increments.
Many companies in the survey agreed (91%) that targeting capabilities are an important consideration when buying online video. Behavioral targeting is clearly viewed as beneficial, even though still not a wide spread practice. Only 40% of those responding indicated they would use the practice when leveraging their advertising.
I found it interesting that 96% of those ad agencies responding in Brightroll’s survey saw research as something of value their clients, yet only 35% actually conduct research for them. When asked which area of online video advertising one would to see an increase in research done 29% said performance vs television advertising, followed by 28% saying they would like to see increased research in the “Change in purchase intent or brand lift”. Audience profiling research cam in last with only 4% wanting to see increased research done. Research provides invaluable insight into how well a campaign performs and allows for improved optimization of future campaigns.
Media buyers are predicting that this year online video will see the largest increase in spending with mobile video following closely behind and social media coming in closely in third place this year. Display, search and tv advertising followed with dismal expectations of any kind of increase.
Overall, I think online video is becoming a clear winner in the advertising expenditure race this year and will likely surge further ahead for the foreseeable future. There are many services out there offering top notch technical product and knowledge, so it should be relatively easy to either DIY or have find a qualified professional to help you.
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