We Demand Video!
It probably comes as no surprise that all forms of video advertising grew by 40% in 2020, but even before the pandemic – video was still the most gripping form of advertising – with VOD advertising leading the charge.
The recent explosion of Video On Demand (VOD) and the shift in how people want to access content, (rather than waiting for it to come to them, viewers go out and find it) means traditional methods of media communication are struggling to keep up with online services – and the UK is one of the most developed markets.
So, what’s the big deal?
VOD offers three main advantages to audience:
Anytime. Unlike broadcast TV, VOD doesn’t follow a set schedule.
Anywhere. As well as being able to view in any location, users can skip, rewind or jump to any point in the video. Meaning they can skip whatever they don’t want to see, and never miss anything important.
Anything. Viewers have ultimate control over what they watch, without the fear of schedule conflicts. The range of content available to stream online isn’t limited to regular TV programmes either, from sporting events to piano lessons – there’s something to be streamed for everyone.
Let’s take a look at the different platforms used for VOD and the effectiveness of advertising on these platforms.
91% of video advertising in 2020 took place on BVOD and for good reason!
When BVOD advertising is so effective – why do we bother with other platforms?
Cost. BVOD is expensive compared to social marketing, but compared to Broadcast, it’s peanuts. But many brands don’t have the budget to accommodate it – although it is the best value for money.
Conversation. Social media is the one place where both brands and consumers have a voice. With BVOD it’s typically one way, so you have to know your audience.
Shareability. Allowing consumers to do the work for you. We as human beings have the recall memory of a toddler and our attention span has dropped significantly since the birth of the digital age – so to be able to spark a conversation is key to the success of brands.
Target your audience with precision, not just through things like location, gender or age but through their likes, dislikes and lifestyle.
Insights directly from the consumer in the form of comments. You can increase your brand reputation by going one step further and responding to these comments.
Considering all these benefits, it’s safe to say that yes, VOD advertising is worth it. It allows for things no other platform can; it in itself spans more than just one platform and has advantages for each. However, to make it work, it needs to be part of a well thought out overarching strategy.
As audiences move further and further away from trusting social and the ads they see, it’s now more important than ever to understand what does and doesn’t work for your audience.
The deep mistrust of social media in the UK comes as no surprise, after a difficult spell across the nation in which brands are fighting for the attention of its consumers. With 1 in 10 people now thinking social media adverts are not trustworthy, we find ourselves in a catch 22 of finding the right mix that works for you, your budget and your customers.
Each channel must be carefully considered and content will always be king. Here’s how to do it.
Do’s & Don’ts.
Do create an encompassing strategy for the best ROI.
The best creative can fall flat if the strategy isn’t nailed from the start.
Don’t create videos for video’s sake.
Audiences can see through shallow ploys and empty content.
Do consider your audience, budget and what makes you unique as a brand.
Put yourself in your audience’s shoes, what is it that you need?
Don’t underestimate the power of brand positioning on social media.
Utilising a social media community manager to engage with your audience consistently and amplify your video activity is essential.
Do make your first seconds of video count – if you want to avoid being ‘skipped on’.
The way to do this? Speak to them in a language they understand with a hook they can’t ignore.
By doing all these things, you create a campaign that aligns with your long and short term business goals – that works across all channels.
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