If you’re advertising online, you may know that the online world is forever evolving in response to consumer behaviour. What you may not be aware of is a recent report, conducted by Pricewaterhouse Coopers, that reveals the latest trends in online interaction with the video landscape.
Why take a few moments to consider this report?
Because it could have a substantial impact on your advertising strategy and bottom line.
In 1956, Australians could access 4 major entertainment channels from their traditional television set. Nowadays, our world has expanded beyond the main screen. Video consumption has undergone more change in the past five years than it has the previous five decades. This is primarily because of 4 key elements:
- More content to watch
- More devices to watch it on (TV, phone, iPad)
- More platforms to consume (Social Media, Netflix, TV)
- Available to consume on 24/7 demand.
So, if you are spending any budget on advertising, it may be time to re-evaluate the following 3 metrics:
WHO YOU ARE MARKETING TO?
If you are yet to narrow in on your ideal client in great depth, you may be pouring valuable funds into the wrong avenues. The image below showcases the breakdown of age findings from the report. By focusing your budget on the channels with the highest volume of your audience, you are “fishing where the fish are”.
WHAT PLATFORMS ARE YOU MARKETING ON?
One of the surprising findings from the report revealed users have a preference for content, over platform. The key attraction to a platform is foremost the variety of content it offers, followed by the ease of use and convenience of a platform’s usability.
When it comes to your marketing, wherever you are spending your dollars to get in front of people, be sure to consider usability. Here are the top 5 platforms that are currently dominating the video landscape, for both their content variety and usability:
WHAT MEDIUMS OF ADVERTISING ARE YOU USING?
With the presence of Subscription Video On Demand (SVOD) services like Netflix, consumers are eagerly embracing video content. Until PWC’s “Video Consumption In Australia Report”, there wasn’t a clear measurement to determine the extent of video consumption occurring across the plethora of platforms and devices.
Now we know that 74% of consumers over 18 years old watching at least one hour of video content on the average weekday, while almost a quarter watch more than three hours. Findings also revealed that the presence of advertisements does not impact consumers’ willingness to use a platform.
So the question remains – how are you using video in your marketing ecosystem and strategy?
At Space Digital, there are many factors we take in to account when strategising a video plan for a client’s marketing. Some key criteria include:
- Having clarity of campaign objectives
- Conducting in-depth research into customer demographics and platform usage
- Managing the frequency and reach to ensure optimal targeting within budget
- Considering how video feeds into the overall business strategy, lead generation and customer nurturing journeys.
As you can appreciate, there are thousands of combinations and options to choose from when investing in online marketing. Video has proven it is here to stay and is only increasing in popularity and reach.
If you would like assistance in creating a cost-effective and high-converting online marketing strategy, our team specialises in extensive competitor and industry research to formulate a comprehensive marketing plan that works with your budget.
If you’d like the peace of mind knowing your marketing is addressing the most up-to-date consumer behaviours with an expert team on your side, optimising your campaigns, book your free consultation today or speak to us TODAY: 1300 314 172.