Technology and marketing in online advertising are ever-changing. Yesterday’s marketing strategy and tech will be supplanted and replaced tomorrow. Currently, and for the foreseeable future, video advertising online is becoming one of the hottest trends and most productive types of marketing.
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Online video advertising is fairly new and has, until recently, been limited to large name brands and firms and smaller brands entering the market are therefore getting a lot of attention. This obviously means that those who quickly embrace this new phenomenon will see big payoffs.
Comparing conventional Internet advertising with video marketing, metrics and analysis have shown that video advertising has a markedly better retention rate and click-through rate than does its static graphics counterpart. Looking at them, we can see that top performing video advertisements have several things in common.
First, they create interactivity and are generally entertaining or useful in some way. Four minutes is about the limit in length. These are fun to watch, informative, and are sometimes spread through social networks and sites by people who enjoy them. The spread through social networks is the Internet’s version of “word of mouth” which is something that all marketers strive for. It is grasped more often with video than with any other advertising medium online.
Several key advantages have been seen in favor of video advertising in recent marketing metrics. This includes click-through rates (CTR). Users are a lot more apt to click a “play” button than they are a static graphic. The CTR of static images is well under 1% on average while video is at 2% and as high as 5% in some averages. Video CTR rises to 8% when you include user interactions like mouse overs, expansions, etc.
Video is still usually seen in the same was as graphic ads, however: as a means towards brand building. However, video can be both, so this view is a mistake. The CTR for video makes it possible to use it for immediate conversions, not just for brand awareness building.
Add to this that most viewers are likely to watch at least two thirds of any video ad they see. So two minutes of any 3 minute ad are likely to be seen by the majority of viewers. Most video advertising is under 4 minutes in length while most aim for the 30-second television mark.
These metrics come from a total of 2.7 billion video ad impressions in a 2010 survey done by True Creative Visual. These numbers are based on a market-wide scale, not a small number of metrics. So the results are impressive.
So key benefits of increased clicks, better retention rates, and viral media sharing (word of mouth) are seen. So video can add up to a stronger, more effective advertising campaign.
For even more ways to use video to promote a website, take a look at Internet Video Production