THETFORD CENTER: Marketers are increasingly looking at online video as an alternative to television, as many feel it can achieve as good or better levels of engagement and awareness for the same cost.
Marketing Charts cited research from AOL which surveyed 772 respondents from leading brands, media and creative agencies in the UK, Europe and North America.
It found that 58% thought they could get a better share of engagement with online video than with TV for the same investment. A further 15% said online video would achieve the same amount of engagement.
In terms of awareness, respondents were a little more cautious, but 47% still felt online video could generate greater awareness than TV for the same investment, while 24% said it would match TV.
Marketers are backing their beliefs with hard cash, as 73% of the survey said they had increased their investment in online video in the past 12 months. TV and display budgets were the most affected as money was redirected from these into online video.
An earlier survey by Digiday and Adap.tv found a similar pattern of TV and display budgets being raided to fund online video, but it also noted that 80% of buyers regarded online video as a vital complement to TV and suggested that "the cannibalisation of display may proceed even more rapidly than that of television".
Targeting (87%), reach (85%), content (81%) and price (80%) were the most important factors cited by respondents when planning an online video campaign.
They also indicated that increased spend in the future would be driven by better audience targeting (73%) and measurement (67%).
As to specific formats, 73% of respondents planned to spend more on pre-roll, and 53% were looking to increase spend on social.
Data sourced from Marketing Charts; additional content by Warc staff