Ways Video Advertising Changed in 2018
This year has been enormous for the world of video marketing. From new technology to changing consumption habits, video is changing the way we interact online, which has massive benefits and challenges for marketers in every field. Keep these changes in mind as you plan out the rest of your video marketing strategy now through 2019.
Mobile advertising grew and led to higher ROI.
The bigger 2018 trend here is the shift from television-first ad campaigns to digital-first campaigns. More advertising dollars are now being spent on online advertising than commercial advertising, and a large chunk of that is going straight to mobile spend. In 2018 alone, mobile ad spending increased 20 percent, accounting for 75 percent of all ad spend, or just over $70 billion. In 2017, video marketing brought in over $2.6 billion in revenue, a number that’s on the rise. In-app mobile video advertising is also on the rise, predicted to grow from 78 percent in 2018 to 84 percent in 2023.
What does this mean? Video advertising is necessary, but specifically focusing on mobile video can help you bring in more customers, more sales, and greater brand growth.
Advertising focus shifted to vertical video ads that were shorter in length.
Thanks to the frequency of video and our increasingly shorter attention spans, brands are turning to shorter and shorter video ads to reach their target audience.
In 2018, the growth of platforms like Snapchat and Instagram TV also caused more resources to be put toward the creation of vertical video. This is a extreme change from years past, where horizontal video was not only preferred, but optimal for viewing experience. Industry research shows that phones are used vertically 98 percent of the time, so video finally caught up to user behavior.
Better data and technological advances led to more personalized video experiences.
Better analytics and data reporting means it’s easier to tell where customers are on the buyer’s journey and who’s most likely to convert. That makes video a more effective sales tool than ever before, helping marketers target those likely to buy via a medium shown to help users convert at a higher rate. Add in personalization and customization, and you’ve got a message that resonates more strongly.
The growth of video personalization was also facilitated by a growth in the technology and software sector, with new platforms making it easier than ever before to customize video content at scale. Whether you’re adding a user’s name or birthday to a video, or sending them updates on products you know they’ve viewed before, personalization makes users more likely to buy.
Resources shifted to cross-platform advertising.
Facebook was the dominating social platform every brand had to be active on. In 2016, Facebook started leaning heavily into video, investing more than ever wholly in its video advertising, live streaming, and video functions – if you wanted to be seen, you had to have a video on Facebook.
In 2018, the tide changed. Video marketing efforts targeted all platforms, including Facebook, Instagram, Snapchat, LinkedIn, Twitter, and more, with brands dedicating higher budgets to reach more people on more platforms. Video advertising on sites like YouTube, Hulu, and Pandora even became the norm, with desktop and in-app ad units available for brands.
This is thanks in large part to the changing browsing habits of consumers. Consumers are no longer on one single social site. And with so many brands vying for our attention, brands have to make more of an effort to get their videos seen as many times as possible in order to be remembered. This is a trend that popped up this year, but will continue to hold in the coming years.
No matter what else happens in 2018, video marketing is here to stay. As advertising starts shaping around the growth of video, we’ll see brands adopting new formats, increasing their budgets, and taking on new platforms in an effort to stay on top of consumer habits.