A 2015 survey found that even though banner ads continue to be the top ad format heading into 2016, many agencies and clients are looking to grow their ad portfolio by ramping up the usage of video formats in the coming year. According to Marketing Land, native and video were regarded as the top mobile ad formats for 2016, with 44 percent of marketers who responded to this survey citing the ability to present content in a less intrusive way as their main reason for preferring these formats. However, digital video advertising goes beyond this benefit and is a medium that marketers are just beginning to scratch the surface of. Here's how marketers can use video to introduce themselves to consumers, build trust and then ultimately get the conversion.
Hook New Consumers on Mobile
As consumers increasingly turn to mobile devices to get information, it's important that marketers reach them in a way that is easily accessible and familiar to them, and mobile provides the perfect canvas for this. Digital video advertising allows marketers to grab the attention of a consumer browsing Facebook, YouTube or another app on their smartphone that supports video playback. This initial "hook" is vital, as it can familiarize consumers with a brand, thus boosting awareness (and hopefully recall).
Getting consumers interested in your product or service is certainly a great first goal for a marketer, but awareness doesn't automatically equal conversion. However, going in for the sale immediately isn't always the right choice. Fortunately, there's an easy way for marketers to bridge this gap. A Think With Google study found that, even when viewers elected to skip a video ad after a few seconds, campaigns saw a 57 percent increase in consideration, 24 percent increase in favorability and 35 percent lift in purchase intent. While one video probably won't convince many consumers to make a purchase right on the spot, this is a good way to keep consumers thinking about your brand and help them form a positive association with it before you go in for the sale.
Get the Conversion
The ultimate goal of any marketing campaign is a sale or conversion, and digital video advertising can help out here, too. Marketing Land reports that 72 percent of ad agencies say that online video ads are just as effective as TV advertising. In even more heartening news, Business Insider reports that the video format has a click-through rate that beats normal ads by a factor of three, which means that many consumers will end their journey with a conversion.
Though digital video advertising is a relatively new concept, this format has proven its worth and can help marketers reach guests during every part of their consumer journey, from product discovery to the moment of conversion.