Reasons Why Video Advertising Is The Next Big Thing
What is Video Advertising?
There is no denying that videos offer a powerful way to engage the audience and foster sharing of content, which in turn can work wonders on brand awareness, driving sales.
In fact, according to an article by Forbes, while 55% of the people across the world watch videos online every single day, 92% of those who consume mobile videos, share them with others. People are watching videos to be entertained, inspired, relax, learn something new, pursue an interest or hobby, progress in a task and even communicate and connect with others.
Videos are also evolving rapidly with such growing popularity. According to a forecast by Cisco, by 2021, the video will account for 82% of all internet traffic, rising from 73% in 2016.
Marketers understand this inclination towards video content only too well. This is why video advertising is increasingly becoming an integral part of their marketing strategies. Video advertisements are display ads that have videos within them. They often pop up before, during or after video streaming. Video ads are inexpensive to make and easy to post and promote. Facebook, Twitter, Instagram, Snapchat and, of course, YouTube are some of the chief advertising portals.
Trends in Video Advertising
Some key trends that are defining video advertising today include:
- Personalization: Video ads are being produced and customized for different audiences. Personalization allows retention to video ads, which drives the click-through-rate (CTR) and the conversion rate (CVR).
- Shorter Video Ads: The attention span of the audience is gradually decreasing. This is leading marketers to limit video ads to just 15 seconds or less, from the earlier 20-30 seconds. The aim is to reduce fluff and say what’s needed. Short ads allow marketers to create more A/B test variants to end up with the best version.
- User-Generated Content: Also known as user-created content, user-generated content includes images, videos, text, and audio posted by users on social media. People are more likely to trust opinions of their peers over that of marketers or brands. Promoting UGC through video ads can garner more views.
Types of Online Video Advertising
Online video advertising has evolved to include three basic types:
- In-Stream Video Ads: Present in the video player itself, in-stream video ads are embedded in the video stream, as a part of it.
- Out-Stream Video Ads: Commonly referred to as “native video” or “in-read,” an “out-stream” video ad is a new type of video advertising. The ad is played when the user navigates through a site while going through the text content.
- Interactive Video Ads: Giving you the experience of being in a video game, an interactive video ad is an interesting form of advertising that thoughtfully blends creativity, advertisement, and business. It can give users a real-time choice to pick the way they view a video.
Reasons Why Video Advertising is the Next Big Thing
Here are few advantages fueling the rapid growth of video advertising:
- Everybody is using it: More than 60% of businesses have used video in their marketing mix, of which more than 80% believe that video marketing is an important part of their marketing strategy, according to Wyzowl’s statistics.
- Higher Audience Reach: Video Advertising offers huge audience reach. It engages people and evokes emotions, which in turn help marketers build trust and create long-term relationships.
- Ensures Brand Awareness: Videos are a quick and easy-to-understand way to spread information about a product and help the consumer make an informed decision.
- Increases Sales: Deploying video advertisement in a marketing strategy can drive conversions and, therefore, sales. Giving businesses the opportunity to wow their customer, video ads expose the viewer to even the minute details of the product in the most exciting way, which increases the likelihood of people buying it.
- Higher Search Engine Rankings: Most search engines, including Google, have started giving greater weightage in their rankings to video content. So, by including videos in their online content, businesses can ensure higher search engine rankings. Embedding video can create backlinks, which can also help boost search engine rankings.
- More Appealing: Our brain is highly responsive to images. And, creating video content linked to the target consumer’s interests is cost effective too. A playful combination if spend, sight and motion in a high-quality video can be very effective.
- Much Better than Reading: Video watching is much more convenient and easily understood than reading a text. Taking advantage of people’s visual and auditory senses, videos connect with viewers at a more emotional level than text.
- Involves the User: Interactive videos are designed to make the viewer feel a part of the entire experience. This type of video advertisement gives a feeling similar to playing a video game.
Video Advertising is a Game Changer!
Needless to say, video advertising has been ruling in 2018 and will continue to do so for many more years to come. It has revolutionized the way marketers connect with the target audience. Video advertising offers a plethora of opportunities to startups and established brands to engage the audience at an emotional level, which is what drives customer loyalty.
All you need to do, therefore, is to get an Explainer Video Company to create amazing original videos that appeal to your target demographic. This can set your business apart from the competition.