GroupM: Five Rules for Realizing the Promise of Online Video - Brian Lesser - MediaBizBloggers

As online video has reached a growth inflection point audience tastes have evolved too It39s no longer just about pianoplaying cats httpwwwyoutubecomwatchvTZ860P4iTaM but also last night39s episode of ABC39s quotModern FamilyquoteMarketer estimates that 33 percent of online adults in the US or 589 million people will watch fulllength television shows online this year on a monthly basis Among people under 35 the share is likely to at least double that numberIn other words consumers are increasingly embracing nonTV screens for immersive quotlean backquot content consumption experiences This trend is accelerated by events like the advent of Hulu the iPad and the millions of hours spent surreptitiously streaming soccer games on office computers all over the world during the 2010 World CupAs marketers are trying to catch up with consumers online video is rapidly emerging as the new frontier in the digital ad buying space eMarketer forecasts 15 billion will be spent on online video ads this year six percent of total online spend growing to 55 billion in 2014 15 percent of total online spendBut while most of the components are available to create a valuable online video offering for advertisers we have yet to make the whole greater than the sum of its partsIn theory the promise of online video advertising is a great thing for brand marketersamp8211it combines the efficiency and hypertargeting capabilities of online ads with the immersive engagement and creative brilliance of brandboosting television commercialsToday39s reality is somewhat less rosy however Video ads are much harder to deliver at scale and on target than conventional display ads and unlike TV there is no ratings standard like GRP no guarantee of brandfriendly placement and not enough critical mass in terms of reachSo how can agencies help develop this still nascent medium The answer is to borrow from what has made display advertising efficient and effective while not compromising the promise of online video as the evolution of television Here are a few rules for the road1 ADHERE TO STANDARDSServing and tracking video ads is more complicated than serving display ad units Until recently there were no standard formats which caused frustration among advertisers and publishers alike The IAB has now developed guidelines and standards called VAST and VPAID While not perfect at least these standards create uniformity around formats datacapture and reporting While we recognize the need for standards to evolve over time WPP39s Media Innovation Group MIG encourages publishers to adhere to VAST and VPAID so we can collectively grow online video as an integral interactive medium2 DEFINE SUCCESS METRICSVideo39s most exciting promise also is its most significant shortterm obstacle amp8211 the ability to track multiple metrics including user initiation mouseover interaction time clickthrough and conversion All of this leads to confusion for advertisers who would like to simply compare video to other online and offline media For better or for worse television has settled on the GRP as its standard metric Our technology allows us to aim higher and as a result we will be making a video metrics recommendation to our advertisers in the near future3 ENSURE BRAND SAFETYMore than any other digital media video offers brand advertisers a true opportunity to engage their audiences But with significant investment in brand advertising comes a heightened need for controlling ad adjacency especially considering the significant long tail of usergenerated video Part of the solution will rely on technology companies like AdSafe have led the charge in the display world but we would also encourage publishers to focus on building more significant scale in highquality video ad placements4 TAKE ADVANTAGE OF DATA AND TECHNOLOGYGiven the need for additional scale in the premium video market the MIG and companies like it are busy building systems that allow advertisers to anonymously target their audiences based on their online and offline behaviors This concept of 39buying audience39 instead of 39buying context39 is enabled using an advertiser39s data as well as various thirdparty sources of data Technology is the key to combining audience buying with a safe contextual environment which leads to higher reach and better engagement without compromising brand safety5 ENABLE CREATIVITYFinally let39s not forget the tremendous creative opportunities enabled by video While standards in technology and measurement are important we must remember what makes television advertising effective amp8211 the ability to deliver compelling and engaging brand messages Media planners and creative directors should work together to define the next big idea which likely doesn39t involve repurposing a 30second television spot The most effective creative will take advantage of the myriad targeting and interaction options available with online videoGroupM with the support of the MIG is actively moving to create opportunities and address the challenges so our clients can tap into online video as a significant component of an integrated media planBrian Lesser is General Manager of the Media Innovation Group a unit of GroupM holding company WPPRead all Brian39s MediaBizBloggers commentaries at Musings from GroupM MediaBizBloggersCheck us out on Facebook at MediaBizBloggerscomFollow our Twitter updates MediaBizBlogger

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GroupM: Five Rules for Realizing the Promise of Online Video - Brian Lesser - MediaBizBloggers

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