Q&A on Video Advertising

On May 24, 2023 Research & Resources

This new Q&A series highlights a key topic in digital advertising and discusses the work that will be carried out by the relative council or working group in 2023.


Today we chat Video Advertising with the IAB Australia Video Council chairs Vikki Pearce, Head of Digital VIC + QLD, Zenith and Luke Smith, Head of Programmatic Sales and Audiences, Seven West Media. 

 

Q1. Let’s talk Video. What do you think makes Video so effective for marketers and why?

Vikki: I think it’s an age-old rationale, people’s attention is captured more fully with audio visual cues, and TV has had the monopoly on that for more than 80 years! However, there is a fundamental behaviour shift that the digital era has cultivated, in that consumers now expect to have accompanying video content to whatever it is they’re interested in – its far more entertaining than just plain image or text and enables immediate absorption of information that they would otherwise need to piece together for themselves. This ultimately allows advertisers to inform and educate audiences more immediately about their products and therefore fast track the consumer toward brand awareness and consideration.


Luke: Video has and always will be highly effective. Not only has it driven TV (Total Video) for the past 67 years – but its ability to capture the attention of viewers quickly and hold their attention is unparalleled. With the advent of technology – Video takes all of this and has the ability to target audiences on a personal level with highly effective tools; and any number of new devices to reach them on at any time of the day.


With the ability for story telling, creating an emotional connection and driving a call to action, it is, rightly so, the go to format for marketers.


Q2. What do you think are the missed opportunities in Video Advertising campaigns currently?

Vikki: I think there is a significant missed opportunity when it comes to High-quality in-banner video / out-stream video. The major focus of video is always on BVOD/ YouTube / social media, but the fact is people are still spending more time outside of the walled gardens than they are within them and largely BVOD is not the best customer experience either, but media spend doesn’t match. This is often due to budget constraints and the need to aggregate lots of sites to make up to the scale of YouTube for example, but when it comes the open web, we could all be doing a better job of recognising and educating on the value of this inventory. Its targetable, scalable can be highly contextual. Don’t get me wrong, I’m not saying it’s better than in-stream video or that it should replace it, just that it’s underrated if used correctly.


Luke: It's not about missed opportunities – but more about how we can further evolve our industry. The power of the format with the precision of digital has seen enormous growth – but where we can further improve, is the creative approach that we take. It is very easy to get lost in the technology that is used to deliver the format – when we can spend more time focusing on the formats that we use to reach audiences, the contextual environments that they appear in and the messaging that we use - to make a positive impact for brands.


Q3. If brands are unsure about using video where should they start? What is a good first opportunity?

Vikki: This all depends on their strategy and what outcomes they are trying to achieve. But assuming they’re already running digital with image ads, a good first place to start would usually be within social, if you’re running image creative, then add in video assets and use the dynamic algorithms to optimise to the best-performing placements. This will start to give a feel of the engagement and metrics you can expect from using video and can be done at a fairly low barrier to entry cost-wise.


Luke: The best thing about Video is that the ease of entry has never been so easy. Whether it is Social, Short Form of BVOD – a test & learn approach with incredible cost efficiencies is the right entry point. Viewability, Completion Rates, CTRs, CPAs and On Target performance are all metrics that are used – but take a step back and focus on what it is that you are trying to achieve first and then let these metrics guide you to hitting those goals.


Q4. What is the Video Council working on that will be exciting in 2023?

Vikki: Excited to refresh the CTV Handbook given the size of this market compared to 2020

 

Luke: Having discussion & outputs from a diverse group of industry stakeholders will be exciting in itself; but personally I’m keen to work more around the ongoing growth of CTV; in what is becoming an even more fragmented market for brands to navigate.   


To register for the Video Summit on June 6 in Sydney, click here.

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