Video is clearly poised to transform the way we communicate and advertise. eMarketer predicts that by the end of the decade, one in 10 online advertising dollars will go to video. And yet little research has examined how marketers can most effectively take advantage of video advertising opportunities.
It is for this reason that we are excited about the debate taking place around the OPA's most recent research report, "Frames of Reference." The contributions here on iMedia mirror the great discussions that took place in the eight cities the research was presented at during OPA's "Eyes on the Internet" tour last month.
There were many opinions and many questions, but most of all there was strong agreement that this study shed new light on an area for which research is needed.
Because of the unique nature of this study, we spoke extensively with agency professionals and publishers to understand the questions they want answered. This allowed us to focus on the most important video ad attributes. Using these attributes, and a variety of ads featuring everything from consumer packaged goods to travel to pharmaceuticals, 96 combinations were tested for how they impact key advertising and brand metrics. We tested current or previously run online advertising campaigns accompanied by two-minute evergreen (not controversial or time sensitive) video content pieces.
One area that has received a great deal of attention is the study's finding of a halo effect from website video content. If the consumer had a prior affinity toward an advertised brand and they liked the adjacent video content, brand consideration jumped 61 percent. And if the consumer's initial attitude toward the brand was neutral or even negative, brand consideration still rose 21 percent if they liked the video content. The study's survey results showed that environment also helps drive action, with consumers much more likely to act on video ads on media sites, versus portals or user-generated content sites.
But perhaps the most intense debate has taken place around our finding that 30-second video ads proved more effective at moving certain key advertising metrics than 15-second ads. We've heard a few knee-jerk "no way!" reactions, but that typically changes once someone has fully considered the study.
"Frames of Reference" did not measure whether consumers prefer 30 seconds over 15 seconds; it measured these ad formats' ability to raise key brand and advertising metrics, including brand awareness, brand consideration, ad likeability and ad relevance. What we found was that 30-second ads provided a 30 percent greater ad relevance lift than 15-second ads and a 23 percent greater brand consideration lift than 15-seconds ads.
During the "Eyes on the Internet" tour, we hosted panel discussions with leading agency, marketing and publishing executives to discuss the implications of the findings. Many commented that, although initially they may have been surprised, it certainly makes sense that marketers can tell a more complete story in 30 seconds. There was also recognition that the environment plays a key role, and the results could potentially be different if a 30-second editorial clip were used.
Even still, we didn't anticipate such a strong showing for half-minute ads. And this is more evidence that, despite its rapid growth (or perhaps because of), there is little concrete research that has been shared that specifically measures the attributes driving preference.
"Frames of Reference," and the debate and discussion taking place now, is an important step toward changing that. The results of this research provide new insight into video advertising best practices and also make it clear there is much more to be examined.
If the online media industry continues to share learnings, we can build upon this research to take advantage of the ever-expanding online video advertising opportunities.