It’s no surprise that the face of advertising has changed drastically in the last 10 years. Traditional print ads are giving way to digital and contextual advertising, while the future of television ads may lie in online video marketing.
We are now marketing to a generation that came of age in the decade that brought the world YouTube, Facebook, Twitter and the modern-day smartphone. They are accustomed to having access to information at a moment’s notice anywhere in the world and no longer rely solely on traditional forms of media – print, television, radio – for information or entertainment.
- According to a 2012 study conducted by the Pew Research Center, in the last two years online news consumption has grown to nearly 40%, a statistic that continues to see a steady increase with the help of tablets and mobile phones.
- Likewise, a May 2013 study conducted by Google+ Consumer Insights Lab found that 59% of U.S. adult internet users turn to the web as their main source of entertainment while 66% spend just as much time watching videos online as they do television.
- Advertising Age predicts that within three years, two-thirds of all mobile users will be watching videos on their phone.
It just makes good business sense to follow customers into the arenas where they spend most of their time. If you are still unsure if online video advertising is right for your brand, consider a few of these points:
- Message and brand recall for online videos nearly doubled when compared to television ads, according to Nielsen and the Interactive Advertising Bureau (IAB).
- Nielsen and the IAB also found that while TV viewing is flat, streaming online video is increasing and viewers are watching online videos for longer periods of time.
- Click-through rates for online videos are 27.4 times higher than standard banner ads and 12 times higher than rich media ads.
- Online video ads are cheaper to implement and easier to distribute when compared to television and print ads.
- Online ads give marketers the opportunity to think outside the box and create interactive campaigns with added punch. In fact, viewers were 10 times more likely to watch an interactive video to completion.
- Online videos are easily shareable via social media networks, creating more buzz and awareness about a brand or product.
- Connectivity is already moving beyond computers, mobile phones and tablets. A few examples are Apple TV, internet-enabled automobiles and wearable devices such as Google Glasses.
- Mobile phones will soon open previously hard-to-reach markets, such as users in foreign countries where the high cost of computers and lack of infrastructure have prohibited online access.
Social media and information-sharing sites have completely revolutionized the way consumers search and share information and purchase products and services, whether they are at work, at home or on the go. The internet is the place where your customers and clients are – and where your business needs to be.