Video advertisements have been captivating consumers for as long as televisions existed – the visual appeal, the dream they weave – they truly make consumers want for products they sometimes never knew existed. In 2016 consumers still want video, but they want it in the palm of their hand.
It doesn’t take a team of expert analysts to conclude the video advertising, particularly digital video and more so, that mobile video advertising, is on the rise (although it never hurts to have scientific reaffirmation of what every internet user today can guess). eMarketer, the trusty source for all things digital, recently showcased their predictions for the rise of video marketing in the upcoming years, determining that by 2020 video advertising spend will reach $28.08 billion, a sharp increase from the $9.90 billion predicted in 2016.
So why are companies turning to video?
In an age where information is thrown at consumers, consumers spend less time reaching their own conclusions and rely on advertisers to convey a complete message, preferably using little to no words.
Since digital advertising is hyper-targeted based on consumer’s preferences, many consumers enjoy seeing ads that are targeted to them based on their individual traits rather than bland TV ads that may not appeal to them. Couple that with the fact that smartphones today are more affordable and mainstream than ever, and what advertisers have is an audience craving emotion-invoking videos that are short, comprehensive, and delivered to them in the palm of their hands.
Where are consumers viewing videos?
Unfortunately, there is no definitive answer to this question – consumers are viewing video everywhere. YouTube, the largest video platform, has over one billion users and reports a yearly increase of 50% in view time. In addition to the published videos, advertisers have the option of pushing in pre-roll spots (placed before desired content is shown) or during longer pieces of content on YouTube. Facebook is responsible for 8 billion daily video views and new sources are integrating more and more video into their written content, often delivering the same information in visual format.
Overall, 26% of people view at least one video per day… so where are consumers viewing videos? Everywhere! And that is what you need to know as an advertiser!