While search has long dominated digital advertising, its hegemony is increasingly being challenged by video, which is undergoing a renaissance within media plans.
Although not a new channel, technological developments and the rapid proliferation of video-supporting environments in the form of social and Connected TV (CTV) have propelled the format into the spotlight once again. Indeed, US digital video ad spend is expected to reach $63 billion in 2024, with social video ($23.4 billion) and CTV ($22.7 billion) making up more than a third of budgets.
Video’s strengths have been historically recognized in its performance. Brands can reach highly-targeted, high-value and engaged audiences thanks to attention-grabbing quality and relevant content. However, in today’s digital ecosystem, where ad spend needs to be definitively tied to outcomes, reporting on video has previously fallen short. This is particularly the case in social environments, where viewability is ostensibly high, but control is lackluster, with advertisers often not knowing where their ads are running.
Thankfully, the growing accessibility of advanced measurement tools is improving and is helping to promote greater control within video advertising. This is particularly the case within environments running on the Open Web and the burgeoning CTV platforms. Meaningful investment and engagement with these technologies will unlock game-changing results for brands in both performance and transparent reporting, and ensure that they are at the forefront of this video renaissance.
Seeing clearly
This resurgence has arguably been in lockstep with the growth of CTV, and the advancement of technology within the channel has underpinned a new era of performant video advertising.
In the past, there have been questions over the scale and addressability of CTV. While scale is still an area for growth, video advertising on CTV nevertheless benefits from high view-through and attentive, lean-in viewing, because most of the ads are not skippable and viewers tend to be engrossed in what they are watching. What’s more, with the right tools, advertisers have a far greater degree of control over where their video ads are placed. Ensuring that campaigns are not only being run on brand-safe programming with valid traffic – but also the overall effectiveness of their spend can be verified more accurately.
Indeed, for any video-based channel, advertisers need assurance that the content their ads will be running with safe and premium and that they are reaching their intended audiences. They also need to be confident the desired frequency is guaranteed – not capped.
The good news is that the technologies to achieve this for video are increasingly available, and can deliver scale and addressability across the Open Web including on cookieless browsers that rivals that traditionally achievable in the walled gardens. Moreover, reach and frequency solutions in CTV are also evolving with the integration of information such as geo, IP and device ID as metrics, offering a great degree of granularity to reporting.
In full control
With omnichannel engagement increasingly critical to success, advanced technology is enabling the sophisticated combination of video ads across environments. Previously immensely difficult to achieve, users can now be reached with consistent video-based campaign experiences seamlessly across devices. This is alongside managing ad frequency and maintaining precise audience segmentation.
Combining transparency, addressability, meaningful KPIs, and the knowledge of where ads are being placed enables advertisers to take full control of their video investment. This creates incremental reach by effectively targeting the groups that are more difficult to connect with via other channels. Because of this, video is the perfect addition to any omnichannel strategy, whether that’s supercharging linear TV plans or desktop and mobile campaigns.
Being able to boost existing strategies with real results is essential, with budgets being scrutinized more than ever and marketers under growing pressure to deliver the best possible results with every campaign. It’s imperative that advertisers are utilizing video to full effect.
Through making use of the breadth of technology out there, as well as evangelizing the business with the right expertise and thinking, video advertising will deliver successful business outcomes now and into the future.
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ABOUT THE AUTHOR
William Jones, Senior Director of Advanced TV and Omnichannel Activation, Adform
As Senior Director of Advanced TV and Omnichannel Activation for Adform, William Jones brings over 15 years of experience accrued across the digital industry, including a wealth of expertise in adtech innovation. Jones spearheaded the European launch of the Magnite CTV platform, and was VP Partnerships EMEA and APAC at Mediamath. His diverse portfolio includes working with specialist publishers such as CBS Interactive and Twitch.