2016 is shaping up to be the year for video advertising. While serious forays into video advertising surfaced at least three years ago, the medium didn’t hit full stride until 2015 and is rapidly gaining ground in digital circles. The following four tips and insights will help advertisers supercharge their video marketing strategies and reach the right user in the most effective ways.
While video advertising for desktop remains important, mobile use is driving the a large proportion of video advertising. According to an article in eMarketer, video advertising is set to double by 2019, and the majority of this video consumption will take place on mobile. It has been estimated that mobile video will account for 75% of total mobile data traffic by 2020.
Mobile video viewing has already surpassed desktop, so advertisers serious about seeing strong video advertising ROI need to optimise campaigns to mobile devices. Mobile video receives a higher level of engagement than desktop due to its screen size, and is well designed for remarketing capabilities. In addition to this, Facebook, which has been making a serious dent in YouTube’s video advertising lead, favours video over text for mobile users in its latest algorithm tweak.
Cover All Bases: Cross-Channel Advertising
Video is ideal for cross-channel advertising throughout the entire consumer path-to-purchase. 90% of users say that seeing a video about a product is helpful in the decision making process. Channels such as Facebook, Instagram, and YouTube, can be used by advertisers to promote video content, and reach potential customers during the various stages of the sales funnel, from brand awareness to purchase.
Mobile, in combination with paid social activity such as Facebook and YouTube, has shown high levels of engagement, and higher intent to purchase. According to Invisia, after watching a video online, 64% of viewers are more likely to buy a product online. Adding call-to-actions or overlays to your video will help you leverage this information to your advantage.
Targeting: Paid Social is Video Gold
The top video advertising platforms offer excellent targeting capabilities, including retargeting and look-a-likes, and with tracking pixels, they can easily pinpoint conversions.
Facebook and Instagram, when paired together can have a greater impact on consumers, and increase campaign success rates. Facebook and Instagram offer the same targeting capabilities, allowing advertisers to easily target leads and deliver videos to move viewers further down the purchase funnel. Advertisers can use Facebook’s advanced targeting, first and third party data, DMPs, and custom audiences, to create successful video campaigns.
Other Video Advertising Solutions: Alternative Ad-Formats
There are several interesting alternatives to social media and traditional video advertising channels, for instance immersive in-article videos. Videos are played when a consumers is reading a relevant online newspaper article, and is delivered on top of the content as the reader scrolls through.
Immersive in-article video has become popular over the past year with advertisers because they pay on a strictly cost-per-completed-view (CPCV) basis, meaning they are only charged once the ad has been viewed for more than 30 seconds.
Video ads span the length of the article and are also available in a new vertical mobile format. According to video advertising company, Unruly, 53% of users were annoyed by having to turn their phones horizontally to watch content. Vertical viewing, only plays when the ad is in full view, and can be scrolled past at any time, giving users full control of the experience. The new ad format was successfully launched at the end of June with The Sun and the New York Post.
Another successful ad format has come via in-app monetisation. Gone are the days of annoying banner ads with low engagement and CPMs. Mobile game players are rewarded with game boosts and extra lives for watching a video ad, or signing up for a newsletter. The ads can be intuitively placed in the app during specific points of the game and can combine a strong call-to-action, encouraging a service upgrade or purchase. Reward videos can also be used for social media and music apps. Users can be rewarded with free premium streaming for a select period of time as a reward for watching a video ad. Spotify is a great example of a company that uses this strategy.
Reward videos are unskippable, but the viewer retains control by being presented with the ability to opt-in. These incentives result in a higher number of users remaining in-app, or upgrading due to immediate rewards and longer game play.
Video is providing a fresh, exciting, and expansive format for advertisers to reach new audiences and revenue streams. 2016 is video’s year; there is no better time to invest in this platform. Brands can be successful in video advertising if they remember to focus on mobile optimised campaign strategies, use cross channel promotion effectively, explore alternative ad formats, and invest in paid social video opportunities.