LONDON: A majority of content marketers believe that brands aren't investing enough in video content and more than half expect to increase spending in this area over the coming year, new research has revealed.
The Content Marketing Association surveyed 100 senior level client-side marketers as well as media agencies such as Saatchi & Saatchi, Carat and PHD for its report Video Content for Engagement.
This found that 58% of marketers planned to increase the proportion of their budgets going to video content in the next 12 months; nearly a third were planning for an increase of up to 50%.
Currently, on average, 78% of content marketers spend up to a quarter of marketing budgets on video content.
Over half of those surveyed cited mobile as their primary channel for branded video content, with a third also putting mobile as the biggest growth area for video. This was closely followed by social media (29%) and short form content (24%).
YouTube still leads the pack in in terms of importance for branded video content, but the picture is changing as the likes of Facebook offer marketers new options and the advent of live-streaming adds another twist.
Clare Hill, managing director of the Content Marketing Association, suggested that video content budgets would see "exponential growth" over the next year "as video continues to excel in importance and value for brands".
The research also found that nearly a third of content marketers believe that it is possible to accurately measure the ROI of branded video content, with the key metrics including views (31%), lead to action (21%), length of engagement (19%), view completions (16%) and social sharing (14%).
As regards specific content marketing verticals, entertainment was seen as most effective for video (43%), with sports (18%) and retail (16%) also popular categories.
Data sourced from CMA; additional content by Warc staff