Growth of video ad dollars
The 2009 IAB Internet Advertising Revenue Report (PDF) indicated digital video ad spending increased 39 percent to $1 billion in Q4 2009. In 2007, Forrester predicted U.S. online video advertising spending would reach $7.1 billion in 2012, with the retail/wholesale and travel/hospitality industries spending the most on video advertising.
The 2010 eMarketer study mentioned earlier states that spending on online video advertising will increase from $1.4 billion to $5.2 billion between 2008 and 2014. While video advertising is still a fraction of the total internet advertising spend (4 percent in 2009), video is on the rise as a web marketing medium.
Video marketing on the web
Online video has come a long way since the user-generated videos on YouTube. Video is being used in many new and different ways, such as professional video resumes and personal videos for dating. The use of marketing videos online is on the rise due to the interactive, mnemonic, and storytelling features of video. Let's review a sampling of the marketing uses of video.
Short corporate videos are a hot new format that can be used to promote your business with a little online branding. Research shows that people prefer to watch a video rather than read about your company online. This type of video is displayed on your site to capture the essence of your business, and it gives connecting with your customers, prospects, and stakeholders a personal touch.
These short videos are easy and economical to create and can increase your website response as much as four-fold. One source of excellent online video production is CorpShorts, which produces customized corporate videos. Another source is Spotzer, which offers affordable videos that can be tagged with a business name.
Video interactive banner ads can be used to extend TV campaigns onto the web. Television advertisers can transform their commercials into interactive ads through video advertising technologies like Veeple, Innovid iRolls, or Mixpo.
Veeple makes anything in a video clickable by adding clickable elements to static videos through overlays that make the ads interactive. Innovid iRolls add post-production interactive objects to pre-roll video ads, providing rollover functionality for special offers and sales info. Mixpo transforms a TV spot into an interactive "Xspot" ad by adding overlays that make the video interactive with clickable objects, a call-to-action, or links to the end of the conversion funnel.
Video hot spots allow consumers to scroll over a product in the video to view an ad, click a link with product detail information, or purchase the product directly. A caption with details about the item appears over the product when the user scrolls over the hot spot. This is an unobtrusive way for marketers to reach consumers watching videos of their own choosing. However, this requires product placement efforts.
Videos with buy buttons can be created with Adobe's new Creative Suite 5, which provides a user-friendly way to build these Flash-enabled applications and deploy them across multiple ecommerce and m-commerce platforms without having to work with software code. This product builds on the omnipresence of Flash across the web.
<< Previous page | Next page >>
