Data-driven marketers love statistics and here are a few that really caught my attention recently relating to online video: 74 percent of all Internet traffic would be video content by 2017 according to a recent study by Syndacast. Of that content, nearly 36 percent will be pre-roll or post-roll advertising, typically in 15 second and 30 second promotions. Coincidentally, U.S. online video spending is anticipated to grow by $2 billion each year through 2018, according to eMarketer.
These statistics suggest that consumers and advertisers are engaging with online video message more than ever. However, if an advertiser’s success is defined by conversions more than eyeballs, it is critical to have a strategy with unbiased benchmarks to verify effectiveness and demonstrate an ROI. This strategy cannot be achieved in one test, but instead requires a series of campaigns that focus on all elements that contribute to conversions: Topical interests, demographics, geography and device being primary among them.
Online video offers advertisers of nearly any spend level to enhance their brand and create awareness affordably and target the audience with the highest probably to convert into customers. Furthermore, it offers the ability to quickly refine the message or offer within the ad as results may dictate.
Below are 5 key factors you should consider when including online video ads in your marketing mix:
- Get to the point. The Syndacast report suggests that 65 percent of video viewers watch more than 75% of the entire video length. Stay focused on one objective (i.e. buy this product, call today or click to learn more) and deliver that message early to ensure it is seen. Keep your entire video message to 30 seconds or less.
- Copy matters. A picture may be worth a thousand words, however the smart strategy to online video is a blending of the two. Layer your text across the video in non-intrusive locations with simple call-to-actions.
- Matching landing page. Similar to display network ads, your online video ads should land on a page within your site that visually aligns with your video message, particularly if an offer is included in the message.
- Give your campaign a chance to succeed. While there is no formal guideline for assigning a budget to your campaign, it is safe to say that you should budget proportionally to the markets you are targeting, the competitiveness of the category you are in and any production costs for A/B testing the campaigns. Also, allow a minimum of 7 to 14 days duration for results before making revisions.
- Benchmark and measure. Establish realistic goals for your campaigns prior to execution and track them via your Analytics and or call tracking reports. Always annotate your changes to properly attribute actions to responses.
Online video is a component to a successful marketing program, not a magic bullet. If you approach your campaigns methodically, you stand a very chance for on-going success.