Whether you fully realize it or not, video plays a huge role in our daily lives. Social media feeds are full of videos shared by friends and family, notable brands post videos showcasing new products, and targeted ads even show up as we stream our favorite shows. Everywhere you look, video is an integral part of the user experience.
Video is dynamic and entertaining, which makes it more compelling to watch and share with others. A 2020 study found that people not only share video more often than other forms of content, but over 80% of people make purchasing decisions based on a brand’s video.
Advertisers hoping to meaningfully engage with their audience need video advertising. Learn how this tactic will be used in 2022, why this matters to advertisers, and how to include more strategic video advertising into your digital marketing plan.
Traffic, Channels, and Spending: Key Video Advertising Stats
Anyone waiting to see how video would perform across the wider internet has their answer: a study from Cisco estimates video will drive 82% of internet traffic this year. Additionally, HubSpot’s marketing industry trends survey revealed 51% of marketers already using short-form video will increase their investment in the format in 2022.
A separate HubSpot report found that marketers consider social media to be the top marketing channel. Knowing this, it’s no surprise eMarketer estimates that U.S. social network video ad spending will grow to $24.35 billion this year.
Connected TV (CTV) numbers are equally impressive. CTV ad spending in the U.S. grew from $9.03 billion in 2020 to $14.44 billion in 2021 and is projected to reach $19.1 billion this year. The potential audience for these ads is substantial: the Leichtman Research Group found that “82% of U.S. TV households have at least one internet-connected TV device.”
Chris Savage, CEO of video marketing company Wistia, predicts people will want more options for how they consume content; for example, a story on a news website with the option to read, listen to, or watch the same story. Consumers are interested in personalized content delivery, and video ads are a smart way to reach consumers who may exclusively prefer video over other forms of content.
What Video Ads Work Best for Your Brand?
The current demand for video combined with forecasted marketing investments in the medium tells us that competition for consumer attention is out there. If video advertising doesn’t have a place in your current digital strategy, now is the best time to plan.
Advertisers must have a deep understanding of both their audience and product or service offering to know which video formats and platforms to use. Some of the most popular social platforms from the past decade centered on short, “snackable” videos. But just because they’re popular with certain segments of the population doesn’t mean they make sense for every brand.
CTV offers a more targeted approach to reaching your audience. This component of programmatic marketing can be more easily directed to your target audience — something traditional TV spots can’t achieve. The videos your team creates for social can be repurposed for CTV for consistent brand messaging. Using ads across different digital platforms also provides better data to inform future video campaigns.
Another factor to consider is the type of video ad that aligns with your business. For example, behind-the-scenes, educational, and how-to videos could work for an agency or as part of a larger video content marketing plan. Product teasers, product demos, and explainer videos are better for more sale-specific messaging of tangible products and services, which is closer to video advertising’s target.
Elevate Video Ads With These Strategies
Like other components of a digital campaign, video advertising is about connecting with your audience and making it easier for them to engage with your content, product, or service. Get started with the following action items:
Begin with current buyer personas and audience research. Video advertising requires in-depth audience knowledge and a plan for reaching them. Use the research you’ve already completed for the rest of your digital marketing efforts to begin developing a video strategy.
Align messaging while keeping in touch with trends. Not every internet video challenge will align with your brand’s messaging. Pay attention to what’s popular, but stay true to your product offering and brand story.
Select an in-house team or video marketing agency. Both options have pros and cons. It’s easier to control messaging and brand style with an in-house team, but some teams don’t have the bandwidth to take on video production. In those situations, an agency can be a great solution. Agency experts can develop a calendar for shooting, brainstorm ideas, create storyboards, and write scripts. Plus, they’ll have the right filming equipment and a proper studio.
Capitalize on the creativity of your mobile device. It’s not required to have professionally shot videos for CTV and can be as easy as having someone in your organization capture those moments with your phone. Only 15% of people say videos have to be professionally produced to make an impact. That more authentic type of creative is going a long way, especially when you think about the type of platforms that these videos are being served upon. Explore easy to produce, yet effective options that don’t require big money investments.
Optimize videos for your entire audience. This goes beyond keyword research and optimizing for mobile-first users. A recent study showed that people were 80% more likely to watch a full video if it had closed captions. Adding subtitles or closed captions makes your video more accessible to everyone, whether a person is hard of hearing or is watching videos while commuting on a loud, crowded train.
Video advertising requires some additional planning and resources, but businesses with the right strategy can benefit from the extra effort.
This content was originally published here.