2013 set be breakout year for online video monetisation
Parent Category: News | 07-06-2013
The third annual Canada Video Advertising Report has revealed that online video is proving to be a more effective source for marketers than traditional TV services.
The study of more than 300 advertising executives at top agencies across Canada, undertaken by video advertising platform provider BrightRoll along with IAB Canada, revealed that Canadian advertisers are accelerating spending towards digital video to meet growing demands from clients looking to reach audiences across all screens. Indeed, this rise was in the region of 42%.
Moreover, the survey found that brands and agencies have increased confidence in video as a valuable and effective tool to build engagement, enhance brand reach and deliver proven ROI. Not only is digital video the preferred ad format – 69% of respondents regarded video as equally or more effective than TV, while 86% preferred video to display – advertisers no longer question its effectiveness.
When asked what aspect of digital video advertisers find most valuable, 39% cited video's targeting capabilities.
In another key shift which may likely be reflected south of the border, the survey found that Canadian advertisers are shifting towards programmatic technology, including real-time bidding (RTB), to buy video. Just over two-fifths of Canadian agencies expect to allocate half or more of their ad spend to programmatic buying in 2013, citing pricing efficiency as the key benefit.
Attempting to find what was causing this uptick, the survey identified technological advances in ad buying, serving and measurement as key drivers. According to agency respondents, completed views were seen as the most important success metric for video campaigns, a 92% increase from 2012. While two-thirds of respondents sought to validate the viewability of their video ad campaigns, 30% of advertisers said they would like to better understand how GRP audience measurement can be applied to digital video to improve campaigns and complement TV ad buys.