If you're new to Video ads, you may not be familiar with such terms as BT and contextual targeting, sponsor cards, five-second bumpers, end cards, telescoping and more.
The online video ad market hit $225 million in 2005 and is expected to reach $385 million in 2006, $640 million in 2007 and $1.5 billion by 2009 (eMarketer). Other projections range as high as $2.5 billion in 2010.
The streaming video ad has come a long way, firmly solidifying its position on the advertising team. There is no doubt that as broadband penetration multiplies and both video technology and ad serving technology advance, most major advertisers will want to use this branding strategy because of its ability to engage viewers.
Online Video Ads Work!
From research and other studies (Klipmart's Research) here are some highlights:
- Online video ads are up to four times more impactful than other online formats, with the majority of viewers watching over 70 percent of the content provided.
- Viewers are over five times more engaged with video content with which they can interact.
- Online video is the second most favored ad format, only modestly surpassed by sponsored links.
- But most impressively, when comparing the same ad units run on TV and online, the online ads beat TV ads in boosting brand awareness and purchase intent.
The implications, impact, and importance of online interactive advertising are extremely exciting and impressive for business.
The community of online video watchers is growing. ComScore reported that the number of consumers viewing videos online increased 18 percent between October 2005 and March 2006. The early adopters who watch are very engaged with the advertising they encounter, especially when it is relevant to their needs.
The Online Publishers Association study conducted in February 2006, surveyed a representative U.S. population sample of 1,241 Internet users aged 12 to 64 and reported the following:
- 40 percent clicked a link or visited a web site mentioned in the video ad
- 34 percent went to the advertiser's web site
- 15 percent requested product information
- 14 percent visited the store to check out a product
- 10 percent forwarded the ad to a friend or family member
- 8 percent made a purchase
Average viewing time spent with a video ad was 21 seconds
The above findings show the power of video ads to engage viewers.
Mirror mirror on the wall...
How do I make the best video ad of all?
Unlike the mirror in the story of Sleeping Beauty, my mirror didn't answer me.
So let me share with you what I look for while I am building a video ad.
1. It still delivers a compelling message even with the sound off
2. Made the brand central to the creative (clear and straightforward)
3. Offers links to additional information online
4. Makes use of the companion display ad while playing
5. It fits with existing offline ad campaigns
The best video ads are interactive and should be contextually and behaviorally relevant.
How is selling online video different from selling other kinds of interactive units?
I find that online video ads bring significant layers of richness and complexity to the final product with which the consumer or audience ultimately engages. Although a standard online ad will almost always have some interactivity associated with it. The additional enriching elements of sound and motion plus the strong emotional connection people make with video in general make for a much more complex sell. Online video sales requires a higher understanding of both the traditional reach/frequency, and emotional impact model of TV/video advertising, plus the internet's direct response, engagement and measurability components.
For example, a simple banner ad promoting the Super
Bowl that provides the ability to click to the stadiums'
website or buy a ticket is a fairly simple sales
process. However, take the same banner, fill it
with the Super Bowls' emotionally charged, fast-paced
video trailer, make it expandable to a big picture
or full screen unit, AND combine that with some
creative interactivity like original video, SMS,
merchandising or other even more imaginative elements,
and a much more evolved and customized sales process
applies. The more creative your advertiser and agency
partners become, the more exciting and challenging
the sales process for online consumers becomes.
I'm going to go find me a new mirror...
Hope that helps happy marketing.
