A recent survey conducted by the International Advertising Bureau (IAB), an advertising business organization reveals that a vast majority of brand marketers and advertising agency executives anticipate digital video advertising to become as important for their businesses as television advertising within the next three to five years. The survey also reported that a huge chunk of increased Internet spending will be diverted from television budgets to digital video programming. The survey was conducted by the research firm Advertiser Perceptions with 297 buy-side executives as participants. Aimed at tracking advertisers’ attitude toward the evolving medium of digital video, it concluded that video content marketing is becoming the preferred option among businesses.
The IAB press release outlines the major findings of the survey:
- Around 65% of surveyed advertisers expect they will spend more money on digital video advertising in the next year than in 2013. Two-thirds of respondents said they will help pay for digital video increases by diverting funds from television advertising
- Around 48% of respondents feel increased digital video spending will be backed in part by the expansion in ad budgets
- The survey found expectations are especially high for original digital video content. The surveyed executives said they have decided to spend 48% of their internet video budget on ‘made for digital’ video programming in 2014, which is up from 44% in 2012. Around 75% of advertisers expect that original digital video programming will become as important as TV programming within the next three to five years
There are many reasons why marketing via video has become a popular strategy in the online marketing landscape. An online video can satisfy the information and entertainment needs of consumers much more quickly than text. When it comes to consumer reach, it is very difficult to compare videos with other medium. It is estimated that YouTube receives more than one billion unique visitors each month. A CISCO survey shows that consumer internet video traffic will be 69% of all consumer internet traffic by 2017, up from 57 percent in 2012.
The success stories of international brands fortify the importance of videos in improving branding and revenues. Coca-Cola generated several YouTube viral campaigns featuring real world customers including ‘Share a Coke’ and ‘Coca-Cola Happiness Machine’, and received millions of YouTube views around the world, which is a great example of improving brand reputation via YouTube marketing Volkswagen’s recent campaign comprising three of its videos received 155 million views. It is not that only big business that can excel with video content marketing. Small ventures can also make the most out of this strategy as production costs have declined significantly in recent years and not much technical know-how is needed to know how to use video. Several applications like Twitter’s Vine with its six-second maximum clip length have made it easier for small businesses to enter the video marketing arena even with a limited budget.
Industry experts offer the following tips to help you succeed with video content marketing.
- Consider the audience you are trying to reach and produce videos relevant to their needs. You would be wasting your time if you are not using the most appropriate means for sharing your message
- Instead of investing your entire budget into a single high-production video, create three to five videos at the same time as a part of a related series. Generate more diverse video content to entice more subscribers. Integrate the video into your web content
- Create interactive and engaging content so that consumers will spend more time with your video and share it with their friends, family and acquaintances
- Use social media to promote your video content and ensure that you use multiple social networking channels. Make sure your videos work across multiple platforms such as smartphones, tablets and desktops.