Video Advertising – Is it worth it?

Let’s face it, most of us love watching videos on the internet. It’s cheap entertainment, in an easy-to-digest format, that gives our eyes a rest from the abundance of textual information online.

You needn’t be ashamed of your screen time, you’re by no means alone. In fact, people now watch an average of 16 hours of online video per week, crazy right? Scarier still, this doesn’t include Netflix…but does this global fascination with online video content extend to advertising? Is video advertising preferred over other formats?

The short answer is yes! and there are some interesting figures to back this up…

In 2019 the global digital video advertising market size was valued at $41.13 billion USD and since then, has steadily increased by around 21% per annum.
In 2020, 96% of consumers increased their online video consumption, and 9 out of 10 viewers said that they wanted to see more videos from brands and businesses.
In a 2021 Lemon Light Survey, 94% of respondents shared that watching a video has helped them make a purchase decision at least once.
Naturally, marketers are flocking to the digital sphere to jump on the proverbial bandwagon, but in their haste to ‘clip the ticket’ on this billion-dollar industry, they often forget one crucial factor – that we (the users) are time poor and spoiled for choice. Truth is, 65% of all video ads are skipped. It doesn’t matter how many ads you publish, if the content doesn’t appeal to your audience, they simply won’t watch.

To successfully advertise using video, you need striking content that grabs your user and breaks through the online noise. Here are my top 5 recommendations for successful video advertising…

It’s tempting to skip this step when you’re chomping at the bit to start planning your first marketing video but trust me – success is much sweeter when you can record your achievements against a measurable benchmark.

So, ask yourself; what is it you would like to achieve with your video?

I suggest setting one revenue-based goal, such as increased leads or units sold, and one brand-based goal such as increasing engagement.

Remember! If it’s not S.M.A.R.T don’t even start. To be workable, a goal must be;

Specific: Clearly define what it is you need to achieve.
Measurable: Your goal needs to be quantifiable via a defined KPI or metric
Achievable: Whilst your goal should be challenging, it must also be attainable.
Relevant: Ensure your goal is in line with your overall business objectives
Time-Bound: Implement a timeframe within which your goal must be achieved
hot tip: to remain on track and accountable – break long term goals into mini-goals e.g. weekly or monthly targets.

It’s impossible to determine what your audience wants without first asking who your audience is. Take the time to learn about your consumer and their attributes, the more specific you can be, the better the end result.

Established businesses with a sound understanding of their buyer personas typically find this step a lot easier than new businesses, if you’re feeling lost, start by answering these questions…

What are your audience’s demographic attributes? i.e. age, gender, location, education, occupation, family status, etc.
What are their likes, dislikes, hobbies, and interests?
What type of device do they mainly use? Phone? Desktop? Tablet?
What are their pain points? A pain point is a persistent or recurring problem with a product or service (or lack thereof) that frequently inconveniences or annoys a customer or business.
Remember the more you know about your tribe and their vibe, the easier it will be to market to them.

Now that we know the who, it’s time to determine the what, what kind of offering would your audience consider valuable?

In my opinion, one of the most important things you can learn about video advertising is that your audience will choose their entertainment based on the perceived value they will gain from its content. Revise your audience – what is it you can offer that’s in keeping with their attributes or interests? Perhaps you can provide a solution to one of their pain points? Here’s an example;

You own a business selling cookbooks – your audience is female and ranges between 25 to 45 years of age, they’re busy with jobs and caring for children, they’re interested in cooking, but their pain point is time or more accurately, a lack of it…Clearly, a family-friendly, quick, and easy recipe video or cooking demonstration, is of value to this audience…Not so hard is it?

Thanks to today’s lightning-fast fibre internet and instantly available content, society’s attention span is rapidly dwindling. Studies show that you have precisely 5 seconds to grab a viewer’s attention online before they continue scrolling hence the need for an attention-grabbing intro aka – a hook.

Hooks need to be compelling and demand your viewer’s undivided attention. I find that eliciting emotion (fear, surprise, horror, humour, sympathy, empathy, etc) is a highly effective strategy. Humans are innately emotional creatures – make them laugh! or cry!

Hooks come in many forms; shocking statements/images, surprising facts, jokes, or questions but it’s important to be original, avoid choosing an overused saying.

Here’s an example of a unique hook. Fancy some plastic sushi? This is a still image, but you get the gst…

If there’s one thing, I’ve learned over my career in video advertising it’s that you don’t need to pay for expensive actors to star in an advertising video. Business owners often don’t need to look any further than in the mirror (or to their staff and colleagues) for engaging content. You are the authority on your own product and, if you are passionate about it, your viewers will share your enthusiasm. Just look at the popularity of vlogging these days, the term (meaning a video blog or video log) was coined in the year 2000 since then a 2021 Statista survey found that 39.6 percent of female internet users regularly watched vlogs. So be brave, give it a go! You never know…you could be your biggest asset!

While I hope my recommendations have inspired you to throw caution to the wind and try video advertising, I also understand that the world of digital marketing can be overwhelming. If you’d like a helping hand with a promotional video or any form of digital marketing, get in contact with the team here at Webmad. We’re happy to help!

…and cut – that’s a wrap.