As the use of videos becomes more and more popular, video advertising is becoming more and more popular as well.
Using videos, whether as part of video advertising or in other ways, is a powerful way for companies to accomplish many significant matters in business. Most people prefer watching videos to reading, and with all of the digital devices commonly used today, watching and sharing videos has become a “norm” around the world.
Videos grab attention and engage more senses. They’re also amusing, time-saving, and more effective than still words or images at creating brand recognition and building relationships. As a result, companies have begun using video advertising more often to increase their success.
Why companies spend so much on video advertising
According to Hyperfine Media, money spent on video advertising in the U.S. will reach $5.4 billion in 2016. In 2017, that total is predicted to increase enormously.
So why do companies spend so much on video advertising? Because the use of videos has taken the marketing world by storm, and because companies need to have their brands be easy for buyers to notice, recognize, and think about when they are ready to make purchases. Therefore, advertising is a necessary investment.
4 ways to measure video advertising performance
When evaluating a video advertising campaign, there are 4 key success factors for companies to measure: Campaign Impact, Campaign Resonance, Brand Fit and Brand Favorability.
More than anything else, companies need for their video advertisements to get noticed. Videos often occupy crowded websites, social media platforms, or emails that may or may not get read. Many are placed where most likely customers are subject to distractions from competitors or other brands trying to gain their attention. If a video doesn’t win the battle for attention, it has failed.
Video advertisements need to be successful at increasing recollection among viewers so the brand is mentally available at a later point. Then, when someone who has viewed a company’s video is ready to make a purchase, hopefully they’ll remember that particular company’s brand and choose to purchase their product or service. It is not good enough if viewers only remember the slogan, featured spokesperson, or theme of the video if they don’t remember the brand who created it.
In summary, the attention captured by the video advertisement needs to instill lasting brand impact.
It is vital for a video advertisement to resonate its message in a manner that is clear, credible, and compelling. If it is confusing, complex, or not believable, it will be quickly dismissed.
Highly effective advertisements are unique in the ways they present their messages and in the ways they make brands distinctive. To be successful, advertisements have to appeal to targeted prospects by promising something better than what they already have, such as better results or lower costs. Also, advertisements that appeal the most to people are usually ones that address problems or frustrations and offer help or solutions.
When appropriate, an advertisement should prompt a call to action. However, companies should be realistic about their call-to-action expectations because not all individuals are interested, ready, or willing to make a purchase at the time they see an advertisement. Assessing the extent to which the advertisement positively impacts interest in the brand, product, or service could be enough in determining successful campaign resonance.
A video advertising campaign must align with the identity of the brand. All videos should display consistent brand elements to ensure they continually build the brand, which is the ultimate goal of advertising. The message in the advertisements, the colors, and the presentations used should all be consistent. Consistency contributes greatly toward how much of an impact is made by a video advertising campaign.
Advertisements play an important role in influencing how favorable potential buyers feel about a brand. Advertisements need to be appealing to increase favorability because people often think about competitor’s products and services when considering what to buy.
Successful advertisements appeal to emotions such as excitement, fear, confusion, pride, and self-fulfillment. By portraying relevant emotions, advertisers will often better connect with their targeted prospects and create higher brand favorability.
MediaFast can help you succeed with video advertising
Contact us to learn more about how we can help your company use videos for selling products or services, increasing exposure, raising awareness, sharing testimonials, fundraising, training, motivating, recruiting, teaching, or branding. We’ve helped many companies succeed with video advertising products, and we can help your company too.