As digital video marketing becomes an increasingly popular medium for promotions, more and more people are jumping on the bandwagon without fully understanding what they are doing. This has naturally led to a lot of myths and misconceptions about online video, its effect on other marketing, and what makes effective video content. This unfortunately has led many online marketers astray, so we decided to address some of them here.
Making a Great Video Advertisement
- Video Advertising is Too Expensive: Television advertising has often been out of the reach of smaller businesses. Fortunately, this is not the case with online video. Savvy marketers can create extremely cost-effective campaigns by only paying to show their content to highly targeted viewers.
- People Won’t Watch Ads Online: Many people believe that online viewers will simply skip or block ads. This has proven not to be the case. Not only do the majority of online viewers watch videos; with short, targeted spots, you can actually engage them significantly more than with television advertisements. For example, on television there is a reasonably high chance that a teenager would watch a commercial for life alert. Online, thanks to a substantial amount of user data, it is becoming increasingly easy to only display your ads to the best lucrative consumer segments
- It’s Only for Big Business: A common myth in all of marketing, many people believe that it is only for big businesses. This is especially untrue for digital video. Thanks to increasingly effective platforms, even a business with the smallest budget can create video content to reach its customers. For example, a car wash can choose to display its advertisement only to people who own a car within a 10 mile radius of their location.
- Online Video Means Pay TV Is Out: Despite how popular online video has become, there has only been a very marginal decrease in the number of television subscribers. While online content may eventually replace traditional television, this change is not coming anytime soon. Television is still important to marketing.
- Video is a Bubble: With a lot of the explosive growth in the online video space, some people believe that it is a bubble. However, advertisers have loved using video as a storytelling medium since television advertising first came into prominence. The biggest question isn’t whether advertisers will leave, it’s whether publishers will be able to keep innovating and improving their platforms.
- Ads Are the Biggest Way Online Video Makes Money: Despite how popular free-to-consumer, ad-supported content has become, the majority of revenues still come from subscription based business models. This means that there is a lot of content out there that isn’t directly supported by advertising.
- Simple Pricing Is More Attractive to Consumers: Many marketers assume that the most effective platforms will be those with simple pricing. However, many models that include more customized pricing are actually equally, if not more attractive.
Understanding common misconceptions about online video marketing is that first step towards being able to create a cohesive and impactful strategy. Don’t fall victim to the idea that a smaller business can’t afford to advertise online. Any smart marketer can create video content that is engaging and causes viewers to want to act.