Seventy-five percent of the advertising agencies that participated in the BrightRoll survey believe that video is equal to or more effective than television, with a significant increase from 64% they thought so in last year’s survey.
Moreover, 91% of participants believe that digital video along with display ads work well, but they doubt their effectiveness compared to social media (68%), searches (52%) and direct response (45%). The most significant aspect of video advertising is its ability to target the right audience, according to 45% of respondents, and 27% who value it as well, but to a lesser extent.
Interestingly, only 10% believe that the lower cost of the video, compared to the television ad, is one of the aspects most valued by customers. Researchers suggest that advertisers go beyond the simple comparison between digital and television, and instead are comparing advertising categories that incorporate image, sound and motion regardless of the screen.
Given the positive image of digital video, it is no surprise that more than a quarter of respondents say they expect online video to benefit from a significant increase in advertising spending this year, with mobile video coming in at 23%. On the contrary, direct response (32%), TV (25%) and connected TV (15%) are the categories that respondents expect to have lower growth in 2013.
Asked about the most limiting factors in the video, 1 in 3 respondents said the price was very high, although researchers have seen that percentage drop by 15% since last year’s study.
36% of respondents believe that behavior and habits are the most important elements when it comes to selecting goals, and about a third say that lifestyle is the element to take into account this year in their advertising in video.