TV's problem is the TV itself
Larry AllenOctober 28, 2015
Lately all we hear about is the rise of video, and how it is poised to surpass display in ad revenue. But this year, according to eMarketer, mobile revenue will surpass all other digital revenue coming in at 52% share up from the earlier prediction of 49%.
Okay… So can we officially call 2015 the year of mobile? Why is it then that publishers are not able to sell their mobile inventory? Where is all that spend going? That spend is being dispersed among a variety of categories including classified, display, video, email, messaging-based apps and search. Majority of display and video spend is focused on InApp, following the audiences and the time spent with devices. Mobile display (which includes banners, rich media, sponsorships, video, and other) is expected to grow from an estimated $9.65 billion in spending last year to $33.9 billion in 2019. Video, while a relatively small part of mobile display ad spending will see strong growth rates, rising from $1.54 billion last year to $6.86 billion in 2019.
Audiences have spoken and are now spending more time with their mobile devices, especially apps. They spend more than an hour on mobile than on desktop currently, and by 2017, eMarketer predicts that Mobile and connected devices will account for the same viewing time as television. This has enormous ramifications on how we think about TV (video) advertising. TV is no longer just the box on a stand in your living room or on the wall in a bar. It has transformed; TV no longer represents programming that can move seamlessly between screens of all shapes and sizes. TV is now fully portable, and an experience controlled by the consumer. This is causing marketers to rethink everything, especially environment and location, much like we do with outdoor advertising. Planners now need to understand where the screen is, who is watching it and the type of content the advertisement is associated with. These elements will play an important role in understanding the mindset of the consumer and the type of message, or duration that will be most impactful/appropriate for the combined experience.
This is just the beginning of the many exciting shifts taking place with video and the way consumers are connecting to programming. Millennials are redefining video consumption; they like snackable, sharable, portable video when watching live events or binge watching their favorite TV shows regardless of the device, and they want to be connected to their friends via messaging apps sharing the experience in real time. Marketers wanting to reach this illusive group, and the next generation of consumers, will need to evaluate their approach to creative, planning and engagement, as they won’t tolerate the status quo of the 30 second spot. As a result, this demands a more integrated experience with messaging that is fine tuned to the content, their location and wants.
How will marketers rise to this new challenge? There are a few recommendations that should be considered as part of the new planning process:
Think Social – all video content is social now. Make sure your messaging feels connected with the audience and context, and that it is of a length that is proportional to the content it is adjacent. Millennials love video of 2 minutes or less, so 15 second ad videos are the max, 5-8 seconds would be ideal. Make them sharable, relevant and accessible on all platforms.
Know The Audience – do your research. Evaluate who currently is buying and engaging with your brand. If you are trying to expand to a younger audience be sure to spend time understanding how they engage with your brand, what they like and moments that excite them. Use this information to create the best video tailored to your target audience. Optionally, you can augment the creative or end cards based on the unique segmentation of the audience you are reaching.
Be Creative – use social and what you know of the audience to entertain and engage them in a way that is on brand but with more spunk and irreverence. Be honest and genuine in your approach as today’s consumer is better informed and in tune with advertising than any generation before them.
Are you ready to engage and address consumers in a new, more dynamic way?
This article was originally post on ClickZ here.