The IAB UK and PwC recently released a report that showed, in the first half of 2014, advertisers have spent a record £3.5b on digital advertising, mostly fueled by the increasing consumption of media and advertising on smartphones and tablets.
Video advertising, specifically, was up 59 per cent year-over-year to £202m, driven by the fastest-growing digital ad format - mobile video advertising - which was up 196 per cent to £63.9m.
Video is the most powerful storytelling tool and has been for nearly a century, and advertisers recognise that in a multi-screen world, video can have the same emotive pull and impact that’s comparable to the all-powerful TV.
The way I see it, there are three key reasons that marketers need to think cross-screen.
- Reach and Frequency has changed. TV still has reach (and always will) but what it is losing is frequency and attention. Consumers are multitasking (using another device while watching TV) and multiswitching (moving from device to device while watching TV). This means their attention is diverted from TV while they are watching. The impact of this loss of frequency and attention is critical for the TV industry and where video can serve as complementary.
- Mobile devices provide the ability to truly lean in. Marketers have the opportunity to incorporate touch on mobile devices, allowing consumers to interact with ads as though they are content. Engaging creative can include photo galleries, additional videos and social media feeds. Our research has shown that purchase intent increases by six per cent among consumers who engage with video ads and they spend almost twice as much time with ads that offer engagement than those that don’t.
- Consumers are watching video across devices. Consumers don’t differentiate between TV content online and video content, and we as marketers need to be ready for a future where video is just video. Sight, sound and motion on any screen. Do you remember when you used to gather around the TV as a family to watch the Generation Game on a Saturday night? That’s a thing of the past now because there are screens throughout the house, and even if everyone is in the same room, they’re watching content on laptops, tablets and smartphones. Capturing this audience for marketers is becoming more difficult and the only way to find them is to be everywhere they are.
The only way to effectively reach consumers across multiple devices constantly is through technology, which can help advertisers target the right audience for their products.
For example, dynamic insertion of adverts during TV shows. What consumer wouldn’t want more relevant ads appearing during their primetime content? And what marketer wouldn’t want to reach a more relevant audience?
Reach is great for awareness, but there’s no substitute for creating intent.
If we think like consumers and utilise technology as the way forward, we can create amazing opportunities for the entire video community.
Alex Macnamara, UK managing director, Tremor Video
Tel: 0203 586 8260