Online Video now viewed as a way to get rankings
Agencies and marketers are find audiences increasingly responsive to digital video advertising, according to the Interactive Advertising Bureau.
Marketers look to increase digital video advertising spend
Managed search engine marketing firms are increasingly looking at digital video advertising (DVA) as a means to get a high website ranking, a new survey reveals. The Interactive Advertising Bureau (IAB) says the results of An Inside Look at Demand-Side Perceptions of Digital Video Advertising, shows there has been a marked shift in the way marketers and agencies allot cash for online strategies.
Spending on DVA will increase by 22 per cent over the next 12 months, the survey found, as the majority of marketers (69 per cent) and agencies (55 per cent) plan to expand their operations in this area. Respondents to the poll forecast they will spend 17 per cent of their total online display advertising budget on DVA in the coming year.
“The study substantiates the buy-side appeal of digital video advertising – the power of sight, sound and motion paired with interactivity,” commented Sherrill Mane, senior vice-president for industry services at the IAB. “This bodes exceptionally well for the future revenue growth.”
Much of the focus on DVA is because advertisers are finding their audiences respond better to medium, with consumers showing a higher engagement rate with online video. The IAB also found that DVA is more trackable and targetable, as well as being less expensive and more cost efficient.
Research from comScore shows 170 million US internet users watched online videos in February, at an average of 13.6 hours per viewer. This equates to 82.5 per cent of the total online population in the country.
The IAB survey suggests that marketers will spend less on TV adverts and focus more on digital video as they feel it offers a better return on investment (ROI).
However, the IAB identified several opportunities for increasing the growth of DVA, including improved ROI measurement, better standardised metrics and a demonstrated audience shift to digital.
“There was strong consensus that demand for digital video advertising was strengthening,” said Randy Cohen, president of Advertiser Perceptions. “It was described best by a senior agency buyer who stated that ‘digital video is becoming an ever-more common way that our target is consuming what was traditionally broadcast content – and our target is spending more time online, and video is another way to reach and engage the target’.”
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