2015 saw the continued growth of video and the ongoing importance being placed by our clients in creating videos and advertising to the right people, at the right time and in the right place. As we stated in our 2015 forecast, video advertising is so powerful because users now expect it and engage with it. The evidence is in the abundance of video inventory, platforms and products that became available in 2015. It is a difficult year to capture all the changes that occurred in a short blog due to the phenomenal growth and change in the market place.
Facebook introduced video carousel ads in the latter part of this year, while Twitter launched autoplay ads into our newsfeed and YouTube continued its modifications with YouTube cards while Instagram video ads were also introduced to Irish market which provides advertisers with yet another platform to reach audiences typically difficult to reach in traditional TV advertising.
Two new live streaming video platforms emerged in 2015. Meerkat and Periscope offer consumers a different viewing experience and giving rise to potentially even greater advertising opportunities in 2016. Snapchat continued its growth with IPSOS’s MRBI’s research reporting the platforms continued popularity in Ireland with account ownership in Ireland now at 22%. We will be curious to see if video advertising opportunities emerge on Snapchat in Ireland for 2016.
Here at iProspect Ireland our video team began a new programmatic video service offering in partnership with our Dentsu Aegus colleagues Amnet Ireland. We will be working closely with Amnet to provide a range of programmatic video products from key providers TubeMogule and DoubleClick.
The growing importance of programmatic advertising has been widely publicized but if you need a refresher this article is a great starting point.
In 2015 programmatic video became more prominent in Ireland and we saw it appearing on more and more media plans. We believe its importance will continue to grow in 2016 as it offers a wider platform for businesses to reach users across a wider array of digital channels. Programmatic video allows for more sophisticated targeting capabilities, greater reach and improved buying efficiencies. It allows businesses to leverage quality inventory using first, second and third party data in real time. SpotX, a video inventory management platform unveiled research that predicts programmatic ad sales related to online video in Europe will become a €2bn industry by 2020.
We anticipate that in 2016 that there will be more brand video partnerships, better use of data for video buying and video content that is designed specifically for digital channels and not just repurposed from TV.
All of these above trends indicate that 2016 should see video ads begin to dominate the digital landscape. Video autoplay ads are already dominating our Facebook and Twitter newsfeeds. The amount of video in News Feeds globally on Facebook has increased by 3.6 times year over year and video posts per person on Facebook have grown 75% year over year. YouTube users continue to upload and watch videos at an enormous rate with one third of content in Ireland now over 20 minutes in length and users now spending an average of 35 minutes a day viewing content on YouTube. A study by IAB in early 2015 noted that Video on Demand is booming reaching 67% of the population in Ireland and VOD consumption has increased by 5%. Furthermore, news recently emerged that Google is testing video ads in search results which highlights the increased importance of video in the digital marketing landscape.
Online Mobile video consumption continues to increase dramatically and for the first time some platforms are beginning to see mobile surpassing desktop views. This is due to better phones, faster internet connections and bigger screens. In 2016, we predict that this phenomenal growth will continue and anticipate advising clients with mobile centred video strategies.
Online video advertising has become more sophisticated and is seen by businesses as fundamental to any of their marketing strategies. Businesses now realise that compelling video content is needed to raise brand awareness and brand sentiment. These businesses are beginning to see how video content can be utilised to assist other partners on the media plan in driving leads, website traffic and sales. Brands now realise that video should not be seen through an isolated lens. Online video advertising should be analysed as part of the overall marketing strategy. The focus should be on how can video advertising help amplify my brand’s message, product or service and how can video marketing connect and captivate my audience to assist with driving consumers further down the sales funnel.
Publishers, websites and social network providers have realised this and have created greater inventory and functionality to allow for video ads to be viewed and to be tracked. The question is no longer whether online video marketing is necessary for your brand – it is now what channels should we use video to reach the right audience, at the right time and at the right moment. It is paramount that brands create relevant and engaging content that fits with the chosen channel. Video should fit the style of the website and should be targeted to the relevant audience. It is no longer enough to just push out a TV ad on these channels. Consumers want to be entertained, educated and informed.
2016 will be an intriguing year for video marketing and advertising. It will be interesting to see what new products and platforms emerge. Will new video streaming platforms Meerkat and Periscope present advertising opportunities and what will they look like? Will Snapchat present advertising opportunities to the Irish market? What will programmatic video growth look like?
With so many opportunities and video’s continuing growth we are optimistic that online video will begin to dominate the digital landscape.