The success of video advertising: 3 powerful lessons
The history of advertising is a long and winding path. Many lessons have been learned but few have had such an impact as the introduction and growth of online video advertising. It all started back in 1994 when advertising began on the World Wide Web. Today, video ads are 27.4 times more likely to be clicked on than regular banners. Our current consumption of online videos is greater than it’s ever been and this leaves phenomenal advertising opportunities.
In this article we’ll detail 3 specific reasons why online video advertising has been so successful and how it will continue to be one of the largest growing forces in the industry.
- It’s engaging! We all love videos in some format. Whether it’s movies, TikTok, or YouTube videos, nearly everybody is an active video consumer. There have been multiple studies that try to identify the psychological reasons people consistently return to television and video. For some it’s relaxing and a way to tune out outside stresses. For many of us, however, it simply has significant entertainment value. It can be exciting, relatable, and addicting all at the same time.
- Social media favors video. As of the past couple of years, the Instagram algorithm now rewards video content over other posts. This comes with the rise of TikTok and Instagram reels as an attempt to compete with the platform. Not only this, but video content increases the amount of time that a user spends on the app. In the eyes of Instagram, this means more opportunity for advertisements and profit.
- There is power in creative advertising. Video is an expansive artistic medium with the potential to access large amounts of creativity. By combining audio and visual aspects, it has a very strong ability to capture user attention. Video advertisements are nearly limitless in their potential to engage with audiences in ways that are new and exciting. The growth of video advertising is only limited by the imagination of advertisers and their awareness of market trends.
If you aren’t convinced already of the significance video ads play in the market, let this final point be your opportunity. Current trends only lead to further growth.
In a 2020 study on the societal increase in video consumption, it was identified that the number of hours watching television grew by 17.5% for the average American from 1992 to 2017. Along with the increase of people working from home and more and more work being done online, video media usage continues to increase every year. There is high potential in the online video market for creativity, impact, and enhanced perspective that if properly capitalized, presents an advertiser with massive potential.
From television to social media, we live in a world of powerful and attention-seeking visuals. The success of video advertising is no secret to the world, and as a society, we expect interesting and engaging ads. While there is always more to learn, let these 3 lessons be a stepping stone to the growing universe of opportunities in the landscape of digital advertising.
By: Max Rosen