TV has traditionally held the largest share of ad spending worldwide, but many marketers are coming to see online video as not only a viable alternative, but perhaps even a better one, according to a recent study from AOL’s Be On.
Among the 772 respondents from leading brands, media and creative agencies in the UK, Europe and North America, 58% believe that for the same investment they can achieve better share of engagement with online video than with TV. Another 15% said online video would drive the same amount of engagement.
Respondents were slightly less enthusiastic about online video’s ability to outdo TV in terms of awareness. Still, 47% feel online video can outdo TV in generating awareness for the same level of investment, and 24% said it could at least match TV.
Marketers appear to be acting on these beliefs, too. 73% of the respondents said they had increased their investment in online video in the past 12 months, with TV and display cited as the most common sources from which budgets have been taken. That supports earlier survey results from Adap.tv and Digiday, which found 72% of video buyers’ budgets for the medium increasing in the last year, with 39% of those re-allocating funds from TV budgets.
When planning a new online video campaign, respondents to the AOL survey indicated that targeting (87%), reach (85%), content (81%), and price (80%) are the most important factors. Better audience targeting (73%) and measurement (67%) were the top reasons given for increasing spend in the future.
So what does this mean to the property portal world? This study as well as others that have come out, show that online is where the advertising world is going. This should be what every salesperson says when talking to franchise groups. Money is tight everywhere, spend your advertising dollars, pounds, euros, etc… where they will do the most good. Online overtook print and now we see it over taking TV.
The stats of online video are enormous on YouTube alone over 6,000,000,000 hours watched each month, that’s about an hour per person on the planet!!
Where advertising goes is where the eyeballs are already and likely to stay and grow. For portals the key is using video as a communication medium.
There are many somewhat hidden aspects of using the site that are often better explained in a 90 sec video than a page of text. The creative talent to produce this engaging form of infotainment is growing fast.
Equally portals can provide a video capability to host listing videos and agent profile videos, although in this area there needs to be some degree of human curation to ensure the site does not become bland and overpopulated by hyperbole – love those agent videos!