The Drum catches up with a cross-section of the online video industry to discuss the evolution of online video advertising.As part of The Drum’s latest digital media supplement, focused on the opportunities of online video, we are publishing a series of articles exploring a range of topics, from how to produce effective branded content to the challenges of video real-time bidding.The supplement will be published next Friday, 25 October.In today’s article, we discuss the importance of understanding consumers in video advertising.Phil Macauley, EU managing director, QuantcastConsumer habits are dictating how video is consumed. The appetite for non-interruptive advertising while watching videos promotes the quality and applicability of video advertising as well. The majority of consumers are watching videos while they're on the move, and video advertising needs to be delivered in an easily digestible format. Otherwise, we will not see much traction. There is also an opportunity for many brands to achieve viral fame if video ads are done well. It's a great chance for brands to set themselves apart via an influential advertising format.Barry Lee, managing director, PerformicsAs with all media, it’s vital to understand consumers. As video advertising and indeed TV become more addressable, we are better able to target content towards the right audiences and increase relevancy. In other words data driven decisions are making for a more impactful result.Steve Chester, director of data and industry programmes, IABAs with all forms of advertising this is an absolute necessity! Advertising must deliver value to the consumer, otherwise what’s the point? And to achieve that you of course need to understand them.Interactive video in particular allows a deep engagement of and dialogue with the consumer, affording an even greater understanding of their needs and desires. In doing so it is possible that consumers can be taken quickly through the purchase funnel from awareness to purchase.Gavin Morgan, VP, business development, Europe, InnovidImportance is around understanding consumers video consumption habits – what do they want to see, how are they stimulated, what screen are they watching on. With interactive video advertising it’s also very important to make sure the call to action is clear and well designed to drive user engagement.Nick Reid, UK managing director, TubeMogulBranding is the art (and, increasingly, science) of creating lasting connections with consumers, so understanding them is everything. Software-driven buying is helping marketers do this by finding the right audience in the right place at the right time for a given brand message. Leon Siotis, director, media & publisher services, BrightRollThe importance of knowing your consumer is essential for every type of advertising and is in no way unique to video. Video is just one step in the journey that a consumer takes in making a decision, so understanding how video influences those decisions is crucial. Peter Browse, creative technologist, Beattie McGuinness BungayThe importance of understanding consumers in video advertising is the same as in other advertising formats. If you don't understand your target audience and the consumer market, the effectiveness of the end product will be severely hampered, and the consumers won't engage with your advertisement. Video advertising, in particular, needs to ensure quality is kept to a high enough standard, just because it's being served in a digital format, doesn't mean we welcome in an age of terrible visually delivered garbage. Digital formats, are often seen as the cheaper alternative, where the print run gets repurposed. Moving forwards, we would need to change the way the advertising sector sees these formats, delivering creative that is designed specifically for the formats.Brian Fitzpatrick, managing director Europe. Adap.tvTraditional TV media is bought based on an estimation of the audience that meets the advertiser’s target group. However, the rise of third party data vendors, as well as the information advertisers have about their audience (first party data) will result in advertisers having increased insight about the audience, as well as an individual’s state of mind.For example, it can be assumed that someone checking the weather forecast in the morning is more open to responding to an ad than someone viewing a work-related business article. This kind of behavioural advertising and understanding will become more important as targeting methods become more sophisticated. The first part of the series explored the future of online video, while the second looked at the opportunities and challenges around video real-time bidding.Keyboard image via Shutterstock
Digital video series: What is the importance of understanding consumers in video advertising?
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