What to expect during the new year in online video
Posted on Dec 31, 2013 by YuMe
Investments in online video ads are increasing at most companies that have an advertising presence. Businesses are starting to realize that much of their fan base is likely using the Internet and can be reached more easily on their laptop and mobile device than through TV. Millward Brown's "Digital and Media Predictions 2014″ report showed some ways that online video ads will shift in 2014.
According to Onlinevideo.net, Duncan Southgate, global brand director for digital at the company, said more marketers will be intent on generating interactions between screens. TV and online will likely feature hashtags to get users to interact with the campaign when surfing social media networks, he said as an example.
"However, the most successful marketers will build a cohesive, clear and consistent presence across screens and closely align advertising expenditure with the time their audience spends on each device," Southgate said.
One trend Millward Brown sees as burgeoning this year is experimentation with microvideo services such as Vine. Marketers and advertisers may want to use this as a training ground for online video ads getting much shorter, as these less expansive spots will likely become more popular over the next few years.
Mobile and industry growth
Another big trend will be the investment in mobile video ads. Whether looking at smartphone or wearable technology, businesses will need to work quickly to figure out how they can get the user's attention in these environments.
"In 2014, the technology to tie together the pieces of the multiscreen puzzle will be leveraged on a much wider scale than in the past," Bill Pink, a senior partner, wrote in the Millward Brown study.
Pink said the question that will remain is how well brands are impacting sales and changing perceptions of brands in a unique way. Answering this question will become more simple when screen interactions will be able to be bonded together passively.
A recent report from Digiday found 85 percent of advertisers plan on increasing their spending in 2013 by an average of 65 percent. This trend will be continuing into 2014 and beyond. The industry has seen expansive growth over the last few years and brands have been increasing their level of aggression in online video investment. Digiday said when the company first started looking at the industry in 2010, enterprises were already getting bold, with agencies planning for a 99-percent increase in spending.
One key to improving is analytics; however, Gartner said while 21 percent of marketing budgets are dedicated to analysis, many struggle with it. Working with an online video ad network could help improve this exponentially.