Video… yes video might just be one of the hottest marketing tactics for 2018 and is expected to carry over into 2019.
Video ads are hot. Your potential audience is scrolling through Facebook and Instagram, the motion & excitement of a video grabs their attention even more than a photo once did. Text & static ads don’t stand a chance. The conversions using video advertising are higher and is usually cheaper than text advertising. What’s the catch? There isn’t one! Not using video advertising campaigns in 2018 might be one of the biggest mistakes your business could make.
In this blog, we dive into why videos are hot in a TV and online environment.
According to the information released by the Internet Architecture Board or IAB, more than 30% of advertising budgets have been put towards display ads and TV commercials. However, the revenues from these advertising methods continue to decline. If you compare the advertisers who opt for online video marketing spend only around 6% per year on video ads shown through streaming video content. However, they registered conversion rates as much as TV ads or even higher. With such high ROI, advertisers often wonder why online video ads work effectively.
Highlighted below are some of the benefits of online video marketing, please read on for this important insight…
Online Video Marketing Combines the Best of Both Worlds
Truthfully, TV spots have higher production values compared to animated Flash ads or banner displays. This is why embedding a video and into a banner or the content itself seems to work best in catching a viewer’s attention. Although they cost more to produce than a CGI ad or an animated video, these rehashed TV commercials are currently being inserted into videos as pre-roll or mid-roll ads. Some users were reported to skip the pre-rolls, but more viewers complete watching mid-rolls frequently.
Online Video Marketing Crosses Multiple Platforms
People access these video ads not only through their desktops and laptops but also via mobile phones and tablets as well as TV screens and game consoles connected to the web or simply the social media platforms. Suddenly, the audience of these ads doesn’t only consist of those who stay at home and watch television. Anyone with a device capable of accessing the Internet can see these ads whenever they pop up on a webpage. Also, the software used to play the videos seems compatible with any platform or operating system.
Online Video Ads Appeal to a Wide Cross-Section of Viewers
The general perception that only teenagers or viewers in their early twenties watch videos online or access them via mobile devices is not true anymore. Because of the widespread use of smartphones and tablets, many people in their thirties and forties are also watching short films, animated shorts, and music videos online. This older demographic is more likely to buy a product compared to the adolescents who don’t earn yet.
Interactive Online Video Ads Increase Brand Awareness and Improves Conversion
The most effective among video ads on the web are those with interactive components. Ads that encourage users to watch and rate in exchange for coupons or a surprise gift raises completion rates, which in turn improves brand awareness. In case these viewers were already interested in the ad’s product or subject, then watching the ad simply enhances its conversion into sales. Whatever the advertisers’ goals in their marketing strategy, online video marketing seems to be an effective solution.
- Approximately 75% of people online right now are watching a video!
- 4x as many people prefer watching videos about a product before buying.
- 25% of people lose interest in a product or company if they don’t have videos.
- 75% of local businesses who use video see a positive impact on their business.
- YouTube has over a billion users, almost one-third of total internet users.
- 45% of people watch more than an hour of Facebook or YouTube videos a week.
- More than 500 million hours of videos are watched on YouTube each day.
- More video content is uploaded in 30 days than the major U.S. television networks have created in 30 years.
- 87% of online marketers use video content.
- Over 51% of marketers worldwide name video as the content with the Best ROI.
- Using ‘Video’ in an email subject line boosts open rates by 19% and click-thrus by 65%.
So what is stopping you? Video marketing on the web is probably the best free internet marketing you can get. You don’t have hire a big video production company (although, polished videos are nice) to jump on the video marketing train – if you have a mobile device, you can create your own videos instantly.