Analysts generally expect spending on online video advertising to reach $4.1 billion in 2013. The sector is pegged to have a higher growth rate than most other ad formats this year. Brightroll’s just-published online video advertising report explains why: Agencies and marketers believe it’s effective.
Marketing industry experts surveyed by Brightroll say online video is the same as or more effective than the following formats:
- Display 91%
- TV 75%
- Social media 68%
- Search 52%
- Direct response 45%
At least 25% of these experts believe the highest growth rates in ad formats will go to online video in 2013. Another 23% say mobile video will be the top growth vehicle for advertising. By comparison, 25% say that TV will have lower growth and 32% say the same about direct response.
The enthusiasm about online video is linked to the results that marketers are seeing. They are using views (37%), brand lift (23%), sale impact (14%), CTRs (10%), conversions (9%), and GRP (5%) to measure success. Agencies say that their clients are interested in using online video to complement TV campaigns. This means they are turning to a variety of metrics to measure audiences with techniques such as GRPs/TRPs (36.2%), % of impressions in target (29.9%), and % of unique viewers in target (23.6%).
In the future, over 30% also want a way to calculate online video’s offline impact on purchasing. This continued focus on online video suggests the format will be in a growth mode for some time to come.
Are the marketers you work with interested in online video? Do they see online video as a complement to their TV campaigns?