Video advertising in the generation conflict
A study by Turn involving more than 200 employees from media agencies shows that, unlike their older colleagues, those under 30 see different criteria for success and opportunities in video advertising.
The most important results at a glance:
- Overall, 84 percent of media experts believe that video advertising is the most effective way to deliver an advertising message; however, among those under 30, only 44 percent agree, with the other 56 percent believing there are better advertising options
- Overall, 83 percent of respondents trust video advertising evaluation tools
- Surprisingly few agencies check viewability figures (48%); good audience figures (56%) and context and quality of websites (62%) from publishers and advertising networks are more important; only 28 percent of those under 30 see viewability as an important requirement on the part of providers
The latest Study of the Turn Marketing Platform shows that younger media experts (under 30) are much more critical of video advertising than their older colleagues. For example, 60 percent of the under-30s surveyed believe that video advertising is even an ineffective advertising medium in some cases. Furthermore, more than half of those who do not exclusively trust the current measurement methods of video advertising are not yet 30 years old.
Relevant metrics
Turn's survey also confirms that online conversions (40%) and click-through rate (39%) still top the list when it comes to measuring the success of video campaigns. Additional options to increase viewability - such as GroupM or AVOC (Audible and Viewable On Completion) - are used by only 30 percent of companies so far.
Paul Alfieri, SVP at Turn, says, "Fully 60 percent of those over 29 see viewability as an important requirement from the vendor side, compared to only 28 percent of those under 30. Neither age group is right or wrong about this. While younger people have grown up within the digital age and are questioning established standards, the older generation has seen the rise of TV and the change it has brought."
New investments in video advertising through new formats
Despite recent news and issues that some bidding platforms (SSPs) are reselling data or not clearly stating which publishers they represent, security measures against click fraud (41%), standardized measurement methods (46%), and premium inventory (40%) are cited as the final three criteria driving brands to invest more in online video. Over three-quarters (76%) of those under 30 saw ad fraud as a negligible factor in relation to video.
In contrast, brands are happy to invest more when it comes to integrating new formats such as vertical videos or 360° videos. Half of the respondents (51%) rated these as new key factors for a potential investment in video advertising.
More budget for video?
At 67 percent, most respondents believe that the budget for programmatic videos comes primarily from the pots for TV advertising. A logical shift towards more target group-specific addressing and higher efficiency in times when more and more channels are being added to the marketing mix. Interestingly, only 23 percent of the study participants believe that completely new budgets will be created for video advertising. This shows that advertising spend simply needs to be used more effectively at the moment, rather than increasing the budget.
Standards on the supplier side
Price transparency (66%) and data quality (73%) are more important than ad fraud protection (65%) for agency media professionals when it comes to video advertising.
About the study
The study was conducted in February 2017 with 218 employees from media agencies in the UK by Morar Consulting. Respondents involved in the research were at junior, manager and director levels. Company sizes included small (up to 50 employees), mid-sized (up to 250) and large agencies (over 250).
About Turn Marketing Platform
The Turn Marketing platform provides comprehensive, real-time insights that enable media planners, agencies and businesses to make marketing decisions. The platform enables anonymous audience planning, data centricity, cross-device advertising, advanced analytics and point-and-click access to more than 150 integrated technology partners. Turn Marketing Platform is headquartered in Silicon Valley.
