3 Reasons to Invest in Video
September 01, 2017
The quantity of digital and offline media available users today is growing at an exponential rate. Audiences are bombarded with massive amounts of information, such that it is impossible for a user to acknowledge everything they are exposed to. How should we overcome this attention challenge? We can begin with understanding that the medium of communication is critically important. If we are trying to convince users to give us their attention, shouldn’t we use an ad format they prefer? A large quantity of recent research points to a preference for video when it comes to content consumption. Let’s discuss the top three reasons why.
1 – User Preference
A recent article from Forbes sites a third of the time that people spend online is dedicated to watching videos. It also claims that nearly 60% of people would rather watch a video than read a wall of text. We process visuals 60,000 times faster than text so, video is a way to convey a message almost automatically as the user is passively receiving information. While reading text requires cognitive thought and attention, video hands us the information we need while playing into the viewer’s feelings. Hubspot statistics also show that 4 times as many customers would rather watch a video about a product than read about it.
2 – User Retention
In order for a marketing plan to be worth the effort, the consumer needs to gain some kind of insight about your brand after viewing your advertisement. Research suggests 80% of customers are able to remember a video a month after watching it. Video advertising uses visual and auditory aids, which make your brand more memorable to the viewer. When the viewer remembers your video content they associate it with your brand, and this leads to greater brand recognition that often leads to higher sales.
3 – User Completion
According to Mobile Ads, video advertisements produce an average 45.32% completion rate. This means that almost half of everyone you reach with your video advertisement, stick around to watch the full length of your ad. Considering the rates for viewing and clicking on static banners ads – this is a no brainer considering garnering a good amount of audience attention for your campaign initiative.
All the buzz surrounding video advertising is backed by facts that prove it to be highly effective. This is only further legitimized when considering that video ad spending has grown 68% since 2015 in the US.
A counterpoint that many advertisers have to the video argument is the cost of the production of video advertisements. In a subsequent post we will discuss effective strategies for producing video campaigns in an efficient manner. For now, we’ll leave you with this brief video produced by yours truly – AcuityAds – that took our marketing intern half a day to put together: