Advertising on television is far out of the reach of most small businesses, but advertising on online video is very dooable and may be just as effective in the near future. It’s become so accessible, that the respondents on “BrightRoll’s new survey chose it as the category likely to see the biggest spend increase in 2011.
65% of the respondents said they would be shifting money from TV advertising to online advertising. 30% said they felt that online video was equally as effective as TV and that’s likely to swing upward as more people move away from TV and on to some form of computer.
When asked about the factors that influenced their decision to buy online video ads, 91% said it was all about the targeting. When it comes to the type of targeting, there is no clear winner. The largest bite, with 27%, was for behavioral targeting. 24% chose contextual and demographics got 21% of the vote.
As for what’s stopping most people from buying video ads, it comes down to money, data and education. A clear system for gauging success was seen as an issue for a third of the respondents. A quarter felt that video ads were still too expensive, though it’s possible that they’d change their mind if they were presented with well-documented data.
96% said that research into areas such as TV vs Video, brand lift and impact on offline behavior were important, only 35% of companies said they did this kind of testing themselves.
What is clear from this mass of percentages and bar charts, is that slowly, but surely, online video advertising is taking hold. As more people come to understand the ROI and video companies are able to offer more precise targeting, it’s likely to become a common channel for marketers.