The vast majority of agency executives believe that video is the most effective medium for delivering an engaging brand message and that total spend on c will “increase significantly” in the near future, the new Different Generations, Different Standards report published by Amobee and Turn has found.
The study polled the opinions of agency execs and then split the results according to two age groups: under 30 and over 30. Just a third of younger professionals said that video ad spend will only increase marginally in the coming years, with the common consensus being that creative video production will soon take up a substantial portion of marketing budgets.
When asked about video being the main outlet for getting a brand message across to a target audience on social and other content-sharing platforms, a sizeable 84 per cent said that it is the most effective means, though 13 per cent claimed that there are more effective ways to tell a brand story.
The arrival of new video formats is set to drive spend on visual content, as 51 per cent said that 360-degree clips and interactive videos will ensure that investment in online video continues to grow. Half of the respondents said that better cross-channel attribution will also play a major role in the rise of online video ad spend.
A separate study published by Vidyard earlier this year found that personalised content could be the key differentiator for brands, as the average retention rate for bespoke clips is 35 per cent higher on average than for video efforts without any personalisation. Brands may also see more success in their content marketing efforts if they post content before midday.
Mobile is often cited as the future of content consumption, but the 2017 Video in Business Benchmark Report revealed that 86 per cent of business videos are still watched on desktop devices such as PCs and laptops, while 14 per cent are viewed on smartphones and tablets.
“While businesses still need to cater to all device types and screen sizes, there is more flexibility to take advantage of desktop features like larger screens and more advanced browsers to build more compelling experiences like interactive video or in-video forms,” the report concluded.