Advertisers Looking More and More Toward Video
A 2008 survey from MarketingSherpa indicated that 52% of viewers took action after seeing an online video ad; 28% looked for more information; and 16% bought something. Statistics like these appear to have resonated with some advertisers, because advertising through online video seems to be on the way up.
One company that specializes in creative online video ads is expecting to double its orders compared to last year. TurnHere says that strong Q1 numbers and a robust project pipeline indicate significant revenue growth for this year.
"In this economy, brands are focusing on the programs that deliver reach, cost efficiencies, engagement and ROI. At the same time, customers are looking for compelling content that speaks to them, not markets at them," says TurnHere CEO Bud Rosenthal.
"The Social Web is redefining how a company or brand can connect with customers at deeper levels than previously possible through expensive broadcast productions or traditional Web marketing," says Rosenthal.
More brands are turning to video to engage customers online. eMarketer predicted that overall online advertising spending will grow just 4.5% in 2009, while they projected online video ad spend to increase 32.7% from 2008 levels.
Recent Nielsen data indicated that in the last year unique viewers of online video grew 10 percent, the number of streams grew 41 percent, the streams per user grew 27 percent and the total minutes spent with online video increased 71 percent.
Video ad spending jumped by a whopping 74% in a years time according to comScore.
It appears that firms who cater to video advertising are looking at good times ahead. Advertisers themselves may want to look at guidelines recently released by the Interactive Advertising Bureau that were designed to cut production costs while inreasing return-on-investment.