Online video washes its face via its ability to deliver precision targeting, & optimal impact within medium, at scale.August 1, 2015 9:57 am
Video continues to swamp the industry headlines. It continues to be the most effective means to convey a message and with viewing figures for linear TV remaining strong, we wanted to assess the pros and the cons of each medium in terms of cost, targeting and analysis…
TV clearly has benefits in terms of stature but cannot compete on tech and data led targeting capabilities, whereas VOD doesn’t have the same stature in terms brand impact. Reach per say, or even broad coverage as a success metric is out-of-date media planning.
Being a digital specialist agency our planning approach always starts with identifying the smartest targeting available to enable us to hone in on the most relevant audience to the client brief. This involves the application of potentially thousands of data layers spanning across audience demographic, behavioural and interest based information. The value of online video lay in (when bought properly and not perhaps part of a broadcast trading deal) the powerful combination of one of the strongest creative formats in existence – video – with the unrivalled targeting capabilities at scale of digital. CPM’s for digital video generally are a fair bit higher than TV – however when bought correctly wastage is minimised so the value per impression should be significantly greater – thus justifying a higher cost.
It’s important to also note the different contexts of video consumption vs. linear TV – TV is generally sit back & ad breaks are increasingly competing for eyeballs from the distraction of second screens, ad / channel skipping. Within the digital environment the context is generally more lean forward, and importantly we can track the number of ads that were actually in view & viewed through. This data can all be linked up with other digital led activity – display and paid search so we can start to evaluate, over time, the true incremental impact & value of this buy. From attribution studies we have carried out for some of our clients, we have more often than not seen a positive incremental effect of online video which has resulted in us up-weighting spend in this channel. Data should be used to inform the evolution of budget weightings on a campaign basis over time.
We believe the strength of targeting and scope to track & use data to evaluate the truer value of online video should be the key rationale behind its use digitally – not simply its ability to reach an audience that can only be segmented in broad TV audience terms.
Broadcaster VOD should only get on a plan if it genuinely is the strongest solution in terms of ability to hone in on the right audience, deliver a quality & engaged audience view which over time is linked to broader business results – i.e. increased brand searches, increased site visitation for example.01