Staying in touch with current trends is fundamental in remaining at the forefront of the ever-evolving world of digital marketing.
Staying in touch with current trends is fundamental in remaining at the forefront of the ever-evolving world of digital marketing. While the growth of mobile has been the biggest influencer of change in digital advertising in recent years, video is undoubtedly the next huge shift that businesses need to embrace. To put this into perspective; as of 2017, there are now more digital video viewers than smartphone users in the UK. It is fast becoming the preferred ad format across all platforms including YouTube, Facebook, Instagram, and most recently, LinkedIn.
Due to its effectiveness in terms of audience engagement, creativity and measurability, marketers are now spending twice as much on video advertising as TV, and it's clear to see why. It is estimated that YouTube reaches 82% of the total online population in the UK, making it the perfect platform to engage with any target demographic. With these figures ever growing, there are a few key reasons why the video trend has skyrocketed.
Video advertising is now more accessible than ever, offering businesses of all sizes a cost effective platform to build awareness and engage with potential customers. When advertising on YouTube, payment is based on a cost-per-view model, meaning the advertiser only pays when an engaged user watches at least 30 seconds of the ad. Even at that, costs can be as low as just 2p per view, offering staggering value for money. Many of the barriers to professional video creative have also been removed, with many businesses opting for third party video footage, or even using smartphones to create and edit high-quality video creative at minimal cost.
In terms of engagement - viewability and audibility figures tend to be a lot higher than other platforms, as people visit YouTube specifically to watch content. By comparison, attention to paid advertising is 84% higher on YouTube's mobile app than on TV where customer attention cannot always be guaranteed. With new video formats including six second bumper ads and the performance focused TrueView for Action, video advertising is only going to become more effective. In saying this, research has shown that 46% of campaigns actually benefit from a combination of TV and YouTube, maximising the reach and overall effectiveness, resulting in improved ad recall, brand awareness and ultimately consideration.
With a multitude of options, video advertising can be hyper-targeted to a defined audience, meaning that there is maximum reach and minimal budget wastage. YouTube has the ability to reach all demographics from millennials to mature audiences through interest targeting, consumer behavior patterns and even during major life milestones. Furthermore, with the new Custom Intent audience targeting we can now directly engage with users based on the terms they have been recently searching on Google.
Although the digital marketing landscape is forever changing, it seems the video advertising trend is one that is here to stay. As YouTube continues to expand its targeting capabilities and other major social channels like Facebook and LinkedIn following suit, it is the perfect time to welcome video into your digital strategy. A quick, easy accessible method to connect with your target audience and grow your business.