What appeals to you when you come across a series of ad campaigns? Some lines of text describing a product? A couple of pictures showing the product? Or a video description showing you what the product can do?
In a reported survey aggregating the current trends in advertising, this same question was posed to an audience, and 72 percent of respondents preferred a video ad over other forms of advertisement. In another survey, 54 percent of consumers revealed that they would love to see more video content from their chosen brands.
According to a Wyzowl report, more than 80 percent of businesses currently utilize video advertisement, and about 96 percent of marketers have engaged in video ads.
One thing is certain in recent times, video advertising trends have risen and are currently at the top of advertising preferences among consumers and marketers alike. While it is established that video ads are the most preferred types, digital video advertising trends seem to have taken center stage and are popular in this digital/social media era. And Programmatic video advertising seems to have become popular among creators and marketers.
Video advertising is the process of displaying promotional content in the form of video.
Video advertising has been around for a long time, since the early days of television and media houses. But over the years, video advertising trends have evolved from just television broadcasts to other digital channels, which have given rise to digital video advertising trends. It has become even easier to create more sophisticated and engaging video advertisement content for digital technologies such as CTV and mobile.
Video ads play a major role in brand loyalty and product patronage. A social experiment discovered that 94% of buyers made a buying decision at least once after watching a product video. The same study revealed that 85% of millennials (young adults) made a buying decision after watching a video.
According to 84 percent of marketers, video has assisted them in generating leads. A further 85% of marketers admitted that video is an excellent way to gain consumers’ attention online. Video advertisement remains the most common way people discover a brand and patronize the same.
According to a Harvard Business Review publication advertising content needs to engage and persuade its audience before converting. While other forms of advertisement are competent with persuading, video ads do greatly with engaging as much as persuading. People naturally tend to respond better to visuals than texts or audio.
A Mediamind research found that people are 27.4 times more likely to respond to an online video ad than other traditional ads. One of the major reasons for this is that videos combine two elements that pique viewers’ interest: movement and sound. These elements are captivating hence spurring the instincts of viewers to engage. Other research has posited that, on average, people recall over 90 percent of a message when they watch as against 10 percent if it’s in text format. According to Hubspot, approximately 80% of customers can recollect a video they saw as recently as a month ago. This cannot be said for other forms of conveying advertisements.
A study revealed that the CTR of video ads in mobile apps is 7.5 times more than that of display ads. People get interested when they see relatable or interesting videos, and if the message is captivating enough, they click to want to know more. The fact that it’s a video already piques their interest. A digital marketing firm supported this claim when they reported that their video ads generated more clicks than other forms of ads they run.
When we use the phrase “video ads,” it encompasses every form of advertisement in a video format, whether digital or television video ads. However, digital video advertising trends have become the norm and most popular method for video ads in this era.
We have become digital natives, and most people can be found on numerous platforms online (Facebook, Twitter, Youtube, blogs, etc.). As of January, 59.6 percent of the world’s population can be found online. A google statistic tells us that Six out of ten people prefer to watch digital video content over television. This is why current trends in advertising are tilting more towards digital video advertising than television ads.
One of the trends that have aided digital video ads to be more efficient in recent times is programmatic video advertising.
Programmatic video advertising is an automated way to display targeted video ads online. With this method, you describe your target audience and set a budget while programmed bots display your ads to the targeted audience. The program displays ads based on bids from a pool of advertisers.
Programmatic video advertising has become a popular video advertising trend among marketers and is positioned to be worth $72 billion by the end of the year. The industry is predicted to grow at 11 percent annually.
Video ads are not waning; rather, they are becoming more of a trend in recent years. Here is a summary of what we can expect with video advertising trends in 2022 and the coming years.
A digitalnexa report revealed that the video advertising industry is currently worth $60 billion, but other reports suggest that it will appreciate and be worth $250 billion by 2022. This projected growth establishes a massive adoption for video advertising in the coming year.
According to a lemon light report, 98 percent of advertisers believe that video will play an essential part in marketing strategies in the future. And in the next few years, over 80 percent of marketers intend to include video content in their plans. Also, 99 percent of consumers enjoy watching videos from their brands online; this trend doesn’t seem to be decreasing; rather, we should expect a 100% in 2022.
The Video Ad Serving Template or VAST is a program or protocol that manages how video ads are displayed on various online platforms and across various digital devices. The VAST program enables the communication between the ad server and the media player. It further determines which ads the video player should play when played and for how long.
VAST basically operates in three steps:
· Request: in this step, the video player makes a query to the ad server to obtain the ad content.
· Inline response: following that, the ad server receives the request and sends an inline response containing the media file and the necessary tracking URLs.
· URL tracking: in the last step, the video player activates tracking pixels after the ad has been rendered. This takes a record of impressions or clicks.
Smarthub simplifies the process of trading by VAST tags. In SmartHub marketplace partners that are connected by VAST can trade efficiently with other partners irrespective of their connection type. Thus, the opportunities for efficient media trading are extended exponentially.
All you need to do is access your dashboard and select any of the options.
Please note: you can trade via VAST on both SSP and DSP sides. There is a matching macros table for SmartHub users in order to replace the correct macros in tags before placing them on the DSP Side.
Socioeconomic changes have modified consumer behavioral patterns and technological advancements increasingly influence how consumers engage with ads. Digital video advertising trends are now more appealing to consumers as they foster more engagement and deliver better campaign efficiency. SmartHub is the marketplace that supports different video ad formats. Demand and supply partners can trade effectively with each other no matter what their connection types are – VAST, Open RTB, or pre-bid server. This way as an owner of the platform you magnify video serving opportunities and thus, increase the effectiveness of your marketplace.
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