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- Pashminu Mansukhani | CEO | Digital Studio
17 / 06 / 2019
The colossal popularity of the Internet has brought forward various forms of advertising, with one of the main tools being video ads. Recent statistics show a steady increase in revenue from videos and video production and distribution. In 2017 alone, the industry has generated estimated revenue of $64.94 billion in the United States.
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The statistics show that over 70% of videos on the web have an average duration of one to three minutes. This is a perfect demonstration of the impact a short and concise video message could have on its target audience. Therefore, making the most of that time is crucial for a successful video.
Another important aspect to consider is content diversity. Making diverse videos can impact a broader portion of the market and attract more customers, thus making video marketing strategies more potent.
The term video advertising includes, above all, online advertisements that occur before, during, and after a video stream. YouTube is a great example of that.
Another common example is sponsored ads included in videos made by various creators. Sponsoring such videos is very effective since ads presented in them are aimed at the specific portion of the market.
The way our brains receive information makes this strategy very effective for marketing purposes. We process images more swiftly than texts, which leave a deeper and longer-lasting impression on individual users.
In addition, videos can offer different types of content such as new product launches, advertising existing products, various facts about brands and their history, and so on.
On top of that, video production for advertising can stir up discussions about products and brands. People sharing opinions and impressions can lead to various positive effects, like removing doubts about certain products and an increase in customer loyalty.
The web has given us access to new forms of advertising in addition to traditional ones. Video ads stand out as one of the best ways to share product information. Here are the major advantages of video marketing:
We can divide all video advertising into linear, non-linear, and companion types. They have specific features that clearly define them.
Linear ads are the most common ad type people come into contact with. They play before, during, or after the video stream consumers are watching.
Non-linear ads run simultaneously with the video. Clicking these ads pauses the video and redirects users to the product website. Companion ads are built into a video player. They offer a persistent visual for a brand during video playback without being too intrusive.
Let’s look at some of the reasons as to why video production so important in advertising.
Social Media is an Integral Component of Video Advertising
The number of people using social networks is constantly rising all over the world, which opens up new marketing opportunities. Social media platforms have opened up space for reaching different, previously untouched parts of the market.
Besides, different platforms offer different ad formats. This allows companies to diversify their video ads, which in turn enables customers to carefully pick and choose which ads they want to devote attention to. This claim is solidified by the fact that Facebook has seen a 50% increase in video views from May to July 2014.
Additionally, there is a greater chance of people remembering a video and due to the possibility of mixing audio with video when creating content. As per Forrester Research, a minute of one video is worth 1.8 million words of text. Furthermore, consumers are likely to remember a video after 30 days, unlike print advertising.
Mobile Video Ad Spending Increases »
Mobile video ad spending has been rapidly growing. Statistics show impressive growth from $720 million in 2013 to $1.5 billion in 2015. Considering there is a high chance that millennial consumers are using videos as an education and information tool, this remains a strong area to invest in.
Like texts, videos also include keywords that help users find it easily. In addition, there are video metrics which can help video clips rank higher than written content.
Some of these metrics include greater user interactions via comments, social media shares, higher subscription rates on platforms like YouTube, and so on. Also, average user engagement increases with average viewing time.
Videos related to consumer’s interests are better received than videos related to their browsing history. With that being said, consumers tend to be repulsed by videos that make them feel like they’re being stalked by companies or brands. Creating videos that are in sync with consumers’ interests is the way to go.
Unlike TV and print ads, which are created for the masses, video ads can be a lot more focused. Multiple versions can be created for greater reach depending on the platform, brand, target audience, and the like.
Video platforms like Instagram, YouTube, Periscope, and such offer different formats demonstrating that there’s a vast market for each video type. Additionally, average viewing times tell a lot about how well a video has been received, which allows easier quality improvements over time.
Videos play a critical role in purchase decisions. Consumers use videos to further inform themselves about a product. Some statistics state that 58% of consumer’s trust companies that produce video content and 83% of consumers want videos to be short, funny, but logical.
Evolving the consumer base and changing attitudes towards our digital world, new technologies and social media platforms are impacting how videos are created and consumed. Therefore, choosing to use video ads and strategies that revolve around them is one of the safest paths you can take for any product that you want to market online.
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