Experts opine that a video ad in a product description increases the chances of its purchase by 35%
By Khushboo Solanki Sharma
Video Advertising has taken over the world by storm and opened a new chapter in the marketing landscape. The proliferation of emerging technologies, changing customer preferences and convergence of ‘new-age media’ has ushered a ‘connected’ era wherein cable has moved to fibre and showcasing to streaming. Prime-time, afternoon soap operas and the male-dominant audience are the thing of the past.
The penetration of smart and portable devices allows netizens to consume content anytime and anywhere. The video content creation tools and technology have become relatively more accessible and affordable, allowing even small-scale brands to advertise their products and services. The emergence of several OTT and social media platforms have made video advertising a sought-after option by marketers and users alike.
The dwindling attention span of users amid information explosion and brands’ emphasis on maintaining customer loyalties imply that video advertising is here to stay and bring a new dawn in the marketing world. According to an estimate, 92% of B2B audience consume video and about a billion videos are watched on YouTube daily. Moreover, video advertising leads to one-third of purchases. According to a Cisco report, global video traffic is expected to increase by 3x between 2016 and 2021.
Video score over traditional advertising medium for informing and educating the target audience and also generating sales. Experts opine that a video ad in a product description increases the chances of its purchase by 35%. By combining traits of showing and telling at the same time, videos generate high engagement and greater exposure than text or images. Social media is an excellent medium that has increased the chances of video exposure manifold. Over 700 videos are shared every minute on Twitter. Moreover, videos allow advertisers to target varied audiences across geographies and profile them based on their preference and genre. The access to advanced analytics tools has made it possible to track engagement, likes, shares and consumer sentiment to maximize the ROI on digital campaigns. Google’s latest functionality of showing Instagram and TikTok videos on a dedicated carousel in the search engine will be a shot in the arm for brands targeting to maximize exposure and build a strong recall across platforms.
Video Advertising is way ahead for brands and advertisers as we step in 2021 if they use the best storytelling, understand techniques and formats, and use the data intelligently. Here are a few tips for planning effective video advertisements.
Keep mobile advertising in mind: Netizens spend at least three hours daily on mobile phones and the YouTube estimates that video consumption has risen by 100% year-on-year. The key here lies in designing videos keeping the mobile audience in mind. Nowadays, video content is being increasingly delivered as HTML5 rather than Abode Flash Plug-in. There are several tools available to optimize video ads to improve their page load time and enable them to play on low bandwidth.
Set objectives and conceptualize content accordingly: Determine the objective of the video ad campaign in advance and devise a content strategy in line with those objectives. These objectives can be lead generation, traffic, or awareness. Customer-centricity should be the focus of video advertising campaigns. An effective video informs, educates and inspires viewers. The goal of the advertiser should be to strike an emotional connect with customers through powerful storytelling and curation of relatable content rather than aggressive pushing of a product or a service.
Play with formats: Micro-videos spanning to less than 10 seconds are gathering steam. These videos are a powerful medium to tap the tech-savvy millennial audience. But this phenomenon does not imply the death knell of 30 second- videos. An effective video advertising strategy should experiment with both formats, depending upon the campaign objectives and the demography of the target audience.
Understand streaming formats of videos: Videos streaming is available in various formats, including in-stream, native video as, or non-linear ads. In-stream ads are seeded into on-demand videos and are non-skippable. Over 8 billion videos are watched on Facebook every day that has given a fillip to in-stream ads on this platform. Native video advertising, on the other hand, is embedded within a page and plays once the user scroll near it. Their versatility has led to over 77% of ad agencies betting big on them, according to e-Marketer. Live video stories on Instagram and Facebook and user-generated content are also gaining currency.
It is to be remembered that video ads, like any other form of advertising, must stick to basic rules of creativity, emotive storytelling and engaging formats. The emergence of integrated marketing communication has blurred the boundaries between video media planners, graphic designers and digital marketers. Hence, brainstorming sessions and seamless coordination among various teams are the way ahead for advertising agencies to stand out from the competition.
The author is founder of Zero Gravity Communications