Today, online videos are taking away the limelight from the ads featured on television. 30 years ago TV dominated the advertising world, but now that’s starting to change.
One of the main reasons that online video is becoming stronger, is because of its accessibility. With the arrival of smartphones and faster internet speeds, people have instantaneous internet access, which has led us to check social networks and media content on mobile devices instead of computers.
Everyday more and more videos are uploaded to the internet featuring educational and explanatory content; nowadays, you can find videos with detailed explanations for almost everything, ranging from financial derivatives to makeup tutorials.
In order to obtain information, people prefer to watch videos instead of reading dense and time-consuming materials. Taking YouTube as an example: 300 hours of content are uploaded every minute!; 4,950,000,000 videos are viewed everyday!; and approximately 1,300,000,000 people use this platform.
This is why YouTube has become the 2nd largest search engine in the world (behind only to Google). A study conducted by Cisco predicted that by 2017, 69% of all consumer internet traffic will be videos.
Some of the many benefits that online video ads have, and a reason that makes video ads more effective than traditional marketing, is the ability to track results on ads campaigns, analyze the audiences’ behavior and make smarter decisions for future campaigns by measuring the effectiveness of previous efforts.
Nonetheless, the best of all is that it’s the perfect way to expand your brand using a cost-effective method of advertising, making it ideal for small or mid-sized companies. Unlike traditional marketing, this method of advertising your brand opens the opportunity of deepening relationships with the customer by enabling two-way communications.
Everyday more and more brands are using online videos as a way to advertise, and are having outstanding results on their campaigns. In a survey made by a US advertising agency, 75% of advertising executives responded that online videos were equal or more efficient than traditional TV ads. According to various studies, more than half of US advertising companies are making use of online video advertising.
Video ads are vital for small and mid-size companies. Due to technological advancements, brands now have the opportunity to produce and post videos at a low cost. Exponentially lower than before.
Applications such as Instagram, Twitter and Vine have made this even easier due to the maximum clip length you can manage on each video, as has SnapChat.
With >2/3rds of all consumer internet traffic projected to come via video in 2017, if you have not begun creating a strategy already, can you really afford not to for much longer?