Online Video: What on-going Measurement Teaches us About their Role in Building Brands
With more and more video content being created online, Kamal Oberoi, Senior Director of Media and Digital Solutions Research for Millward Brown, explains how we should be measuring video’s role in the success of brand building.
Online video consumption in Singapore is growing every year, and not one single landscape dominates the market. Increasingly, people are watching video everywhere: at work, school, in public places, while commuting – all in relatively equal frequency. In terms of format, TV takes the lead with 70 minutes per day and smart phones taking 69 minutes of the day. The age gap for digital video is also narrowing, with 49% of people aged 49-54 in Singapore are consuming online content.
How do we market online video?
With this much range, how receptive are people to video advertisements? Our research shows that most customers prefer video content based on interest rather than on online behaviour such as video viewing history, browser history, location, and social media profile. For example, a holiday maker who made a booking for a Perth hotel probably doesn’t want to be retargeted with more hotels with better prices after the booking. Instead, advertisements should show her what else she can do in Perth.
With this new landscape of multi-screen, multi-channel video viewing, we need indicators of brand building that leads to conversions: incremental reach/ efficiency frequency and impact on brand KPIs.
What is the impact of online video on reach?
Incremental Reach: Online video can add incremental reach to a TV campaign, but manage your expectations as TV is still a strong reach media.
Frequency: Online pre-roll is a great way to supplement frequency of your TV campaign.
Efficiency: By supplementing frequencies amongst light and non TV viewers online pre-roll helps to achieve reach goals more efficiently than TV alone.
TV is more effective than digital for reach, so why go digital? Of all advertising channels, online video is the highest driver of brand impact. Building brand KPIs and attitudes through online video is a smarter measure of building successful brands. WIth just 6% of total advertising spend, online video leads to more efficient impact across the consumer funnel.
As for frequency, online helps augment frequency at a cheaper price, you can choose when your ad gets aired. In-stream online video works better than other formats and drives other brand KPIS including: aiding brand awareness, online ad awareness, message association, brand favorability and purchase intent.
What is the impact of online video on brand KPIs?
- Role of online video in the funnel: online video drives metrics across the funnel for brands in SEA
- Performance vs other formats: online video out does display and rich media formats in building impact across the consumer funnel. This performance can be amplified with accompanying banners
- Brand building: online video helps in building reach, incremental frequency and also impacts the right brand metrics across the funnel, thereby making it a great brand building platform for advertisers across SEA.
Now that video is being viewed across several platforms at any given time, our metrics and definitions of success have to evolve. Rather than solely looking at familiar behaviour metrics like CTR and CPV, look at performance indicators based on what builds your brand or increases reach and frequency in the most cost-effective way possible.
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