Online video has emerged as a key channel for marketers, changing the way brands reach and engage with their audiences. Online Video (OLV) inventory refers to any digital video content that is not on a social media platform (social video) or a streaming service (CTV/OTT). A popular OLV channel is YouTube, but a channel is not needed to serve online video as thousands of websites offer video inventory, programmatically. Marketers can purchase ad space on this video inventory to serve an ad pre-roll, mid-roll and post-roll. OLV falls under the digital video umbrella which is expected to surge to $74.8 Billion in revenue in 2023, surpassing Linear TV ad revenue for the first time.
YouTube currently stands out as a major OLV platform and offers extensive reach and diverse targeting options that captivates audiences. On Youtube and other video inventory, the distinction between short-form and long-form content has become essential in achieving success. While shorter videos tend to attract users with limited attention spans, long-form content can be leveraged for storytelling and immersive experiences, to encourage user engagement.
When it comes to creative, a trend in OLV advertising is utilizing user-generated content (UGC) as ads. Brands are tapping into the creativity and authenticity of users to generate engaging content that resonates with their target audience. These UGC videos vary from product reviews to product demonstrations. This approach not only encourages user participation but also bolsters brand loyalty and trust.
While Forbes reports an increase in the use of online video ads by marketers, with a 45% rise in spending compared to previous years, OLV advertising still has its challenges. These challenges include short attention spans and the high video production cost. While short form video and UGC content are possible solutions, marketers have to act quickly as users gravitate toward platforms with skippable ads, such as TikTok. Marketers also need to be strategic and utilize the available targeting options available in OLV platforms from contextual and dominant targeting to the granular behavioral targeting available in YouTube via Google.
Despite inevitable challenges, OLV ads have witnessed numerous success stories across various industries. Whether it’s in the higher education vertical or cannabis industry, Brkthru clients have seen heightened brand awareness, increased website traffic and positive return on ad spend while leveraging OLV advertising.
Online video advertising has transformed into a dominant force in the marketing industry. Emerging trends, such as UCG content, have paved the way for exciting opportunities and growth. Here at Brkthru, our team takes a highly strategic approach to crafting a media plan keeping all advertising trends in mind to stay ahead of the competition. We start with YES!