Online video advertising is growing more and more popular each year. In fact, it’s estimated that by 2026, online video will make up more than 80% of all internet traffic. So what does that mean for small businesses? How can you take advantage of this rapidly growing advertising medium? Keep reading to find out!
According to statista.com, The worldwide advertising market for targeted video advertisements is the fourth largest area of Digital Advertising. The US$92.3 billion revenue anticipated to be generated in 2021 will rise to US$162.2 billion in 2026, accounting for 50 percent of the world’s overall digital ad spend. (view case study)
What can we learn from this information?
The marketplace has clearly been altered by technological change. With video-streaming platforms like Netflix, Hulu, Amazon, and YouTube pulling customers away from the television and Google and Facebook becoming behemoths in the social realm, it’s no surprise that advertisers are migrating their efforts to the Internet.
The trend is clear: if you want to reach customers, you need to be advertising online. And that means using video as a medium.
There are many benefits to using video as an advertising tool. For starters, it’s incredibly engaging. People are far more likely to remember a video than they are an image or text.
People are also far more likely to share videos than any other type of content. So not only will your ad reach more people, but those people are likely to share it with their friends, amplifying its reach even further.
Plus, video advertising is a great way to show off your product or service in a more engaging and personal way than traditional advertising can.
If you’re not already using video as part of your online advertising strategy, it’s time to start. The future of online video advertising is bright, and it’s a great way to reach more customers and grow your business.
What does this mean for your brand?
Just as it is important to have a strong online presence, it is now more important than ever to advertise with videos. This means creating engaging and informative videos that will keep customers’ attention and lead them to your product or service.
It also means being active on social media and sharing your videos with as many people as possible. The more people who see your videos, the more likely they are to become customers.
History and trajectory
In the past, online video advertising was mostly relegated to pre-roll ads that played before the video you wanted to watch. However, over the past few years, there has been a surge in the use of other types of video advertising, including mid-roll and post-roll ads, as well as overlay and banner ads.
While pre-roll ads are still the most common type of online video ad, their popularity is waning. In its place, mid-roll and post-roll ads are becoming more popular, as they allow viewers to actually watch the video they want without having to sit through an ad first.
As online video advertising continues to evolve, we can expect to see even more innovative and creative ad formats emerge. This will provide advertisers with more opportunities to reach their target audiences and generate ROI.
So what does the future hold for online video advertising?
Simply put, more growth and more opportunities. As online video becomes an increasingly dominant form of communication, businesses that don’t advertise with videos will be at a disadvantage. Video advertising is no longer a “nice to have” – it’s a necessity.
If you’re not already using video as part of your online advertising strategy, now is the time to start. The future of online video advertising is bright, and it’s a great way to reach more customers and grow your business.
So, If you’re looking to get into online video advertising or want to update your current strategy, contact RipMedia Group. We can help you create engaging and effective videos that will reach your target audience and generate results.
Still reading? Would a video have been easier?
Looking for more information on how to produce an effective marketing video? The following resources should be of help to you:
- 7 Tips on How to Improve Your Explainer Videos Using Voiceovers
- 15 Best Qualities to Look for a Video Production Company
- How To Make Engaging Explainer Videos: An Explainer Video Company’s Perspective
- Mistakes That Destroy Your Video Productions
- What Makes Whiteboard Animation Videos Succeed in 2021
For additional in-depth coverage of video marketing, brand building, and storytelling, check out my most recent Masterclass and join our Free Bootcamp!