“Over Two-Thirds Of Advertisers Will Spend More On Video Ads In 2012 and online video is seeing unprecedented growth. “
Online video is no longer the luxury of large media companies. Online video is now a route that is accessible to all sizes of business whether they are looking to increasing traffic to a website, convert visitors, drive sales or communicate ideas.
New Opportunities for Digital Marketing Agencies & Brands
Why should you care about Video?
Every metric used to measure online video has seen growth in the last five years: popularity, time spent, usage and budgets have all seen a migration to online video. In its seminal “The Web Is Dead” article last year, Wired stated that video accounted for a total of 51% of all Internet traffic in the United States alone.
Projections show an even greater predominance of online video for the years to come.
The most recent comScore report on online video rankings (December, 2011) showed video viewing at an all time high:
- 182 million U.S. Internet users watched online video content,
- for an average of 23.2 hours per viewer,
- with total 43.5 billion video views in a single month.
The rest of the world, particularly Europe, is showing similar patterns. In the UK, the average number of hours of online video viewed per month is 17, with Germany at 19.6, 18.7 in Turkey, 18.4 in Spain, 12.8 in Italy and France, and 9.7 in Russia. The number of unique viewers for these 7 countries is over 214 Million.
Key for any business working within the online advertising industry is understanding the impact of all this growth on spend within the sector. A recent survey from Adap.tv and Digiday found that brand advertisers who have bought online video ads in 2011 are planning to increase their budgets for 2012 by 47 percent; and for brands that didn’t purchase any video ads in 2011, 84% say they will include digital video in their campaigns in 2012.
“84% of brand advertisers say they will include digital video in their campaigns in 2012”
These figures directly correlate with the experience of Wooshii as the number of projects and budgets have increased through 2011, and are likely linked to the shift of budgets from print and broadcast TV advertising to online video.
As an example, Cisco Systems launched a new product in late 2009 through all its social media platforms (amongst them video), cutting expenses in the order of more than $100,000 when compared to their traditional launches. The “Future of Shopping”# video got 6.6 Million views in the process, engaging with the audience and prospective customers.
Video has increased the sales of Marks & Spencer by up to 20% in select products, and a research by Ad-ology Research showed that the influence of online video is even higher when it comes to niche markets: “online video does more than entertain, it impacts what they buy or where they buy it.”
ComScore again found that people who saw an online video ad are more likely (by more than double) to take action and visit a site than controls that had not watched a video.
Furthermore, a research by Google and Ipsos found that viewers of online video are more likely to recall a brand by 1.5x over a standard TV ad, and double up when both are viewed.
In 2011 Google announced that they will expand their Adwords platform to Online Video. Google’s new network will leverage the power of the Google Display Network (the Internet’s number one ad network, reaching 89% of the entire online population) and YouTube, the world’s biggest video site, also now regarded as the second largest search engine on the web.
The combined power of these two web giants presents a huge opportunity in online video for all businesses, small or large, to reach an audience through engaging rich media.
For businesses who haven’t already capitalised on the benefits of online video, this announcement signals that now is the time to do it. The crucial element is, of course the need for an engaging and high-quality video to promote in the first place, and this is something that many businesses have previously believed would be out of their reach.
The Google news, along with a host of other video networks, means that it’s never been easier for a business to spread their video marketing messages and opens up a host of new opportunities for digital marketers.
Social and Search
Online video helps leverage the social element in your marketing campaigns, by allowing your audience and customers to interact with it – via comments, sharing, and more.
And indeed social networks give a whole new life to video, and allow it to be discovered by new people.
A research by Brightcove & TubeMogul observed that search is the number one referer of online video traffic, while social network Facebook comes second. First of all, this means that having a video for your business can increase your Search Engine Optimization greatly, allowing more and more people to discover it while searching the web. Second, a video leverages your social strategy by having people interact with it and discover your business via social networks.
5 Ways a digital agency can help its clients with video in 2012
Whilst video is becoming an ever more popular choice for advertisers, the space is young and navigating through it can prove daunting. There are a number of key requirements of every advertiser:
Affordable video assets
Before a client can start a campaign they need video assets they can use in their campaigns. Traditionally, producing such assets was expensive and agencies are naturally resistant to investing in expensive equipment and personnel.
Wooshii, with video projects ranging from £150 to £80,000, is a go-to solution for agencies that have no in-house video production. By allocating those resources to thousands of video professionals all around the world, savings can be as high as 90% allowing agencies and marketers to still make healthy profits on outsourced production whilst still retaining total control.
(See Wooshii Fact Sheet)
Video campaign management is more than just creating good assets or videos. Video advertisers need to understand:
- How videos connect with a target audience – online video targeting is much more precise than say TV.
- Online video medium – e.g. will it be used to drive engagement or generate leads?
- Formats – there are several types of online video ads (pre-roll, in-banner, In-Stream, and more) and each one has its own advantages and pitfalls.
Distribution network knowledge and management
As important as having a video produced is the distribution strategy that follows making it. Successful video planning includes both managing free channels such as YouTube and social networks and understanding how to seed traffic along with distribution through paid channels. Optimising and management holds many similarities between running a successful SEO and PPC campaign with feedback and monitoring all giving vital information that can be used to further enhance a campaign’s effectiveness.
There are numerous ways in which video’s effectiveness can be measured. At its simplest , the number of views has some correlation to a video’s success but digging deeper can show everything from retention times to repeat views. This can give a huge amount of insight into a marketing message’s clarity along with a video’s effectiveness in general.
Integration with other campaigns – PPC, Social etc
Video assets can be used throughout the whole digital marketing mix. Good planning will mean any given asset can be used both as a standalone asset but also to enhance SEO and social campaigns. They can be used to increase conversions or as a standalone sales tool for direct marketing campaigns.
The key for any given client or advertiser is understanding the scope of video.
The key for the agency is providing an integrated service at an acceptable price base.
And Wooshii can help you with all of this!
Join Wooshii / Agency Partners
Wooshii allows brands and agencies to acquire video assets at massive reductions. It does this by connecting them to a global community of video makers and animators.
This community gives any brand or agency an on-demand production house that can expand to meet any number of projects whilst giving the company total creative, budget and intellectual property control.
How Does Wooshii Work?
Further Discounts – The Partner Program
Savings on Wooshii are typically 60% – 90% but business that want to do more with online video can save a further 15% on all video projects run through Wooshii by joining our partner program.
Partners receive their own branded portal and all Wooshii fees are waived (a further 15% saving).
Your portal gives you a multiuser route to managing Wooshii projects and allows your clients to partake in the selection and briefing process if you so wish.
The Wooshii partner portal is utilised by brands such as the European digital marketing firm GetUpdated as a route to provide video production services to their client base and Intel as a means to supply video production services to their 23 000 community of independent application developers.
For more information about how Wooshii can help you, please contact:
Fergus – +44 (0) 20 8798 0090 – firstname.lastname@example.org
This Whitepaper was published on 01/02/2012 and last updated on 01/02/2012