The following is an excerpt from Magnet Media’s Guide Book whitepaper, “Developing an ROI-Based Digital Video Strategy.”
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Current State of Digital Video
Growing interest and appetite only tells part of the story. The most exciting aspects of web video’s ascent are the buying habits of its consumers, its ability to drive viewers to sponsors’ websites, its positive impact on brand awareness, the opportunity it represents in specialized search engine optimization and the fact that online video is enjoyed and responded to far more than more traditional advertising.
Much of this can be tied to the mechanisms of web video’s delivery. Television places advertisements in front of a wide variety of audiences, but the capacity to target specific audiences is severely limited. Anyone who has spent time watching daytime television on a sick day understands this. The ads that populate The Price is Right’s commercial breaks, for example, tend to be inappropriate for anybody under the age of 65.
The educated guesswork that drove television advertising in the 20th century has been replaced by a precision that is almost surgical by comparison.
Let’s look at the four reasons why digital video has emerged as a powerful marketing tool in greater detail.
I. Buying Habits
A June 2010 ComScore report showed that 96% of people who made e-commerce transactions were also online video viewers. In other words, virtually anyone who spends money online is also watching web video. If you have revenue-driving targets, online video must be part of your marketing and sales management strategies.
II. Driving Traffic
TV Everywhere recently surveyed web users about why they visited the websites of web video sponsors. The top reason was that a sponsor’s ad had run during that show, either as a mid-roll or on the lower third of a screen.
The second most popular reason was the recognition of a product within a program. In other words, branded entertainment, along with its older sibling, product placement, is not just an awareness vehicle. It can also be used effectively as a traffic driver.
III. Video Search Engine Optimization
At this point, regular web page SEO practices are ubiquitous. The market is close to saturated; everybody is aware of its importance, and there are thousands of businesses vying for very small pieces of real estate (i.e. the first page a search engine result page).
By comparison, SEO for web video is still in its infancy. Google, Bing and other major search portals now often dedicate real estate for online video on the first pages of their search results. The right tags, titling and promotions practices make your videos 53 times more likely to come up than those that have not been created with video SEO in mind.
IV. More Appealing Than Television Ads
A recent ComScore survey asked participants to rate several kinds of advertisements based on four key questions: How much did they like it? How relevant was it? How memorable was it? How much fun did they have watching it?
Online video advertising was rated far higher than television advertising in all four cases. In some cases, its ratings were almost twice as high.
This is not an accident. The rich array of data available on web audiences allows companies to identify who they’re speaking to, and tailor their messages accordingly. The days of scattershot, assumption-based television advertising are starting to give way to precise, niche-based web video advertising.
The aforementioned scenario, in which a 30-something suffers through orthopedic bed advertisements during their The Price is Right convalescence, just doesn’t happen when they are watching web video.
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More in the full guide book…
- The 5 Types of Video Recommended for Marketing
- Forming a Strategy: tying it all together for your own video efforts
- Promotion and Distribution
- Tracking ROI and Optimization
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