5 Useful Facts About Online Video Advertising
Online video advertising spend is on the up - eMarketer predicts that it will grow threefold to 12% of overall UK ad spend by 2017.The chances are you're already using it, or at least thinking about using it (especially if you're reading this article). So we thought we'd share 5 useful facts that we gleaned from 2 recent studies into this discipline - a survey by digital video platform Brightroll into the attitudes of UK Agency Executives and some analysis by in-stream video buying platform VideoHub of the video impressions on its network.1. The most popular forms of targeting are...contextual and behavioural. In the Brightroll survey, 40% of UK Agency Executives cited contextual targeting as the most useful, closely followed by the 36% who cited behavioural. Demographic targeting garnered the support of 22% followed by geographic in a poor fourth with 2%.2. The most popular measurement metric...has changed between this year and last. According to Brightroll's survey, until this year the most popular metric was views but this year it's been supplanted by brand lift, and conversion has also overtaken it to take up second place in the affection of UK Agency Execs.3. Online video advertising is seen to be effective but...not as effective as TV ads (unsurprising) or social media outreach (more surprising). Only 23% of UK agency executives in Brightroll's survey believed online video advertising was more effective than TV, and only 38% thought it was more effective than social media outreach. It was, however, believed to be more effective than other forms of online display advertising by most (62%) of the sample.4. Ads between 30 and 60 seconds had the lowest completion rates according to VideoHub...but surprisingly, completion rates didn't fluctuate greatly dependent on the length of the ad. So although ads between 30 and 60 seconds were completed 77% of the time, ads under 30 seconds only saw a 7% higher completion rate (84%). In addition, for ads between 1 and 3 minutes the completion rate jumped again to 83%.5. But size is important because...the larger format the ad, the higher the completion rate, according to VideoHub. Here. the relationship is linear with a 66% completion rate for extra small format videos compared with a 93% completion rate for extra large. And click thru rates improve with size too - although medium-sized ads perform just as well as larger format ads, they outperform small format ads considerably in this regard.The learnings from these 5 facts? Well, one of the attractions of video advertising, as with any other form of online marketing, is its targeting potential. You'd expect contextual and demographic targeting to be popular as video advertising has traditionally been placed at the top of the purchase funnel, but the popularity of behavioural targeting means that many see it has a role at other, later stages of the purchase journey. That would also explain the rise of conversion as a measurement metric.