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In 1948, The very first TV commercial aired in American airwaves, mesmerizing the crowd and opening television to a revenue stream that would generate the television industry billions every year. Fast forward to today, video ads are no longer just available on tv and have become a large part of our daily content consumption.
Nowadays, video ads appear everywhere: in video sharing platforms, mobile applications, and even social media. As our content consumption moves towards the online world, the power of online video ads grows ever stronger, especially when it comes to growing brand awareness across consumer groups and market sectors.
How powerful are online Video Ads?
Since the rise of the online medium, almost everyone on a global scale is connected to the online world. People interact more online through social media, and online games have grown from small groups in classrooms into large gaming communities. Everything is slowly heading towards the “online”.
And as the online world grows, the creation of online video ads become even more critical in getting your brand in front of audiences.
According to Zenith, a Publicis Media agency, “global online video consumption will grow by an average of 9 minutes per day each year until 2020”
This growing trend of online video consumption has not shown any point of slowing down, with the report further adding that “Globally, consumers will spend 84 minutes a day watching online video in 2020, up 25% from 67 in 2018”
The report also predicts that this trend would lead to more advertising on Video-on-demand platforms like YouTube and Hulu. Showing just how powerful online video ads are going to be in the following years.
What should businesses do?
With everyone transitioning to online, it’s high time that businesses, both big and small, begin to transition towards video Ad marketing, especially on websites like YouTube where videos are the platform’s product.
If you’re a frequent visitor of YouTube, You will easily notice that video ads are now more prominent now more than ever, with ads playing before and during a video.
According to the zenith report, online video ad spending is still small compared to tv ads, but it’s still rising and would soon outpace tv ad spending.
“Zenith predicts this figure will increase to 23% in 2020, however. And this 23% figure could rise further if top digital video and social platforms are able to address some of the pervasive issues within digital advertising — like low ad viewability — to entice big brands to spend more on digital.”
For small businesses, now is a good time to join in the online video ad craze while spending is small as the future of online video ads are bright and promising.
Now is the time
Video ads are rising at an incredible pace. And in a couple of years, online video ads would have overtaken the success of tv and radio ads by leaps and bounds. That’s why now is the best time to join the craze.
Creating video ads is only half the battle, getting it in front of your targeted audience is another crucial factor you need to consider to have a profitable online video marketing. When it comes to reaching your targeted audience, get a competent SEO team to ensure that you’re targeting the right audience.