As marketers try to keep up, the question on the minds of many industry leaders is: Do you have your finger on the pul
Abinakad (pictured right) believes that the best research uncovers the human motivations that drive consumer behavior, maybe even revealing results that upend the established order. “When you don’t question established order, it can lead to short-term results,” she stated. “Company leaders may believe and invest in something that may not be of great interest to consumers. This research is pivotal to keeping up (and ahead of) quickly changing consumer trends to maximize business opportunities and plan for the future,” she added.
The study focused on consumers age 16+ and B2B constituents, including industry buyers (agencies and brands) and sellers (publishers, ad networks and ad tech providers). The results revealed macro trends in the video ecosystem and where attitudes between consumers and companies merged and diverged. But Oath’s main purpose in this study is to deeply understand how and why consumers are engaging with video online and the importance of acting on insights as part of one’s video strategies, especially given how quickly the industry is evolving.
Here are the major takeaways:
- Digital video investments show no signs of slowing down. B2B trends indicate greater spending on video which is increasing exponentially. 83% of buyers are expecting to increase their video spending this year.
- Dollars are coming out of television. This investment is coming out of Broadcast/Cable TV budgets and into predominantly desktop (72%) and mobile video (71%) platforms.
- Social (50%) and quality creative (46%) are driving video’s growth.
- But 44% of advertisers say measurement is still a big challenge, a +14% increase from last year.
- Consumers want VR, 360 video and AR, especially younger consumers. Across all age groups, consumers are drawn to live videos as advertisers are increasingly investing in 360 Video.
- Mobile video is driving much of digital video’s growth as 67% of all consumers watch videos on their phones everyday with 74% watching live video.
- Offering greater competition to linear networks, news, music and sports content dominate live video consumption.
- VR is poised to become as common as mobile video among consumers for all types of programming such as movies, virtual tourism, science and shopping. But hardware constraints are currently seen as a barrier to fuller roll-out.
- Consumers expect video advertising but the “right” length of the ad is important and it varies. Of course, who doesn’t prefer shorter ads? But, the findings here indicate that expectations vary according to the length of the video. The longer the video, the longer the expected ad. But the ad must be relevant and with some control still maintained by the viewer such as skipping and fast forward.
- Programmatic spending will continue to rise, but both buyers and sellers are concerned about system integration and the ability to access premium inventory.
Oath’s collection of more than 50 global media and technology brands ranges from AOL and Yahoo to HuffPost and TechCrunch. Their redoubled focus is on delivering content and ads across mobile platforms so research necessarily plays a big role in this effort. Understanding the accelerating trends in media and placing efforts in those trends are essential for their future success as well as their advertisers.
“Our mission is to build brands that people love," said Abinakad. "Since marketers are focused on delivering the highest consumer experience possible, having and offering relevant, insightful research results will help our clients reach that goal."
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