Video advertising is promotional content that is played before, during, or after an online video. It is considered one of the most effective forms of digital advertising, as videos are more attention-grabbing, engaging, and memorable than static images.
As with any form of advertising, video advertisements come with both benefits and drawbacks. It is important to consider these when determining whether this form of digital marketing is right for you.
Pros of video advertising
Video advertisements can remarkably capture and hold a viewer’s attention. Unlike static advertisements, video advertisements offer a multi-sensory experience and are more likely to pique a user’s interest. An estimated one-third of users watch video advertisements in their entirety, and this percentage increases in short advertisements.
✓ High engagement rate
Video advertisements boast an extremely high engagement rate compared to other advertising formats. One study found that internet users were ten times more likely to engage with a video advertisement compared to another form of advertisements, such as a banner or static image.
✓ Videos do well on social media
Many social media platforms that once centred around images have admitted that they are now primarily video platforms. Some have dubbed this the end of social media as we know it. Video advertisements are key to continuing to maintain viewers and engagement on social media. They can effectively grab a user’s attention while they’re swiftly scrolling through the app.
✓ Highly compatible with mobile devices
While some advertisements are exclusive to desktop computers, videos can easily be viewed on phones and tablets. With 89 per cent of Australians owning a smartphone and 53 per cent owning a tablet, appealing to mobile users has never been more important. Failure to incorporate mobile-friendly ads into your marketing strategy can potentially lead to decreased sales and loss of business.
✓ More opportunities for creativity
Looking to showcase your brand’s personality to users? Video advertisements are versatile in length, content, type, and design. Businesses can create a range of content showcasing products and services, advertising sales, interviewing employees or past customers, and spreading brand awareness.
Video advertising leaves room for creativity and aesthetics. Attractive, aesthetically pleasing videos with engaging graphics, music and video elements are the perfect way to gain and retain a user’s attention.
Cons of video advertising
✓ High cost
There are high costs involved in video marketing, regardless of whether a business hires a professional or opts to create advertisements themselves. These include script writing, cameras, microphones, and crew costs.
Video production takes a substantial amount of time and effort. There are multiple phases, all of which take up time. These include pre-production phases, such as planning, filming, and post-production costs, such as editing. Though videos have a high rate of engagement, it might not be worth it if your business has a low budget and a limited number of employees.
✓ Not everyone enjoys video content
Video advertising may not be suitable depending on your industry, target audience, and company goals. For example, written content is often preferred in news and journalism. A study from Oxford University found that 41 per cent of millennials prefer reading news content to watching news videos.
Similarly, a result-orientated audience may prefer to scroll through your website, blog, or advertisements and read text rather than watch a video. It is important to consider whether or not the video format adds value to the message you want to spread to potential customers.
✓ Difficult to update
Other advertising methods, such as written text, blog posts, and static images, are relatively easy to update to reflect a change in products, prices, branding, or trends. Videos, on the other hand, are less adaptable. Reworking or refilming a video will incur the same initial costs all over again. Businesses that are on a strict budget may discover that the costs that come with constantly updating their video advertisements aren’t sustainable.