The Future of Digital Video – Follow Your Consumers
Digital video marketing is yet another tool to help your business grow. In short, you need to be “ Following the Money” and it’s a no brainer.
When P&G started sponsoring a series of soap operas on radio in 1930s for brands like Duz and Oxydol, they took this innovation to television and started producing award-winning soap operas.
The growth in TV equaled the growth in brand recognition and brand advertising. Since then, any marketer couldn’t imagine building a big nation brand without TV advertising. That was until now! we are in the internet era, and we all agree no that you can’t build the next new brand without digital video across all the devices. Essentially, you follow the money 🙂
So What now?
Video like search advertising is becoming more real-time and more engaging from a consumer standpoint.At the end of the day, the best advertising has always been as engaging as content. It doesn’t have to follow a 30 second format either. Vines only last 6 seconds and other companies are also producing longer format: This 8-Minute Ice Cream Ad, With a Lesbian Love Story and Lily Allen, Is the Sweetest Ever.
So essentially, products are being:
1) catered to the audience, even niche ones, which is quite recent.
2) Delivered right to them, whether you are. Desktop ,mobile, watch, VR, ‘holographic new device that’s coming out tomorrow’
The difference also is the close loop system. Advertisers actually have the opportunity to connect engagement data with purchase data and close that loop. We don’t really see a centralised solution for now…but i can’t imagine that being too far away. The data is there…so it’s all about turning that data into meaningful information.
Imagine looking at your panel and seeing conversion rates for:
Format vs demographic vs conversion vs spend vs attention rate vs device vs etc…
You can then base your launch campaign on a model that you’ve tested and know that works.
You also know that this campaign will be catered to your consumer…not splashed all other like a bad paint job.
Connecting big data you have from the media will enable you to link your brand advertising to tangible revenue. And once you do that, you can then begin to make the shift from using a shotgun approach to media buying.
Instead of mass broadcasts, you need to think about creating personal playlists for the tens of millions of consumers you attempt to reach. You can’t do that without processed data.
I think the future of Digital Video is an interesting one.
1) Volume will be needed fast and cost effectively.
2) They will need to be engaging.
What do you think is the future of Digital Video?