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Global survey shows nearly three-quarters (74%) of respondents are influenced by social media ads and 88% agree that they consult online reviews before purchasing a product
Social Media Ads and Online Reviews Carry Major Weight with Consumers
According to the survey’s 4,000 respondents across the U.S., UK, Ireland, Germany and France, nearly three-quarters (74%) of respondents are influenced by social media ads and the majority (71%) of global respondents have made at least one purchase from a social media ad in the last 12 months. Of this group, 35% of respondents made one to two purchases, 23% made three to five purchases and 13% made more than five purchases.
When it comes to the amount of influence online reviews have, nearly all respondents (88%) from the five countries surveyed agreed that they consult online reviews some of the time before purchasing a product, and 41% of those said that they always do. Global respondents also indicated that negative reviews impact their purchasing decisions 88% of the time, on par with positive reviews (89%). The survey also revealed the most popular channels. On a global basis, it was Google Reviews (58%). Respondents’ second choice; however, was dependent on where they live. In the U.S., UK and Germany it was YouTube (37%), while those in Ireland and France prefer Facebook (34%).
“A robust content moderation strategy, that could include engaging an external partner with the industry experience, regulatory landscape knowledge, technology capabilities and skilled moderators, is imperative to providing an engaging, safe and trust-worthy brand experience,” continues Hannon. “Brands that make the proper investments will set themselves apart from competitors and create lasting impressions that will translate to customer loyalty and incremental sales.”
If you work in tech, media, or even marketing, you’ve likely heard a lot of buzz around Web 3.
And, when filtering through all the noise about future versions of the internet, you might find it hard to differentiate all of the predictions from myths and reality. And, more importantly, if you’re likely asking questions like, “How could Web 3 impact my business?”, “Will I fall behind if I don’t get in on Web 3 now?”, and “Is Web 3 just built on hype?”
“When you’re listening to the news, or you’re on Twitter, and people are talking about NFTs and Web 3, it seems really abstract and futuristic and stupid. It’s really easy to naysay all of it. I get that,” says Kipp Bodnar, HubSpot CMO. “A lot of it is going to be crap. And a lot of it’s going to fall away.”
But, Bodnar adds, “In the last version of the internet, your whole job was to make a product or value proposition 10 times better than it was before. In the next generation, the internet, it’s making something somebody thought was impossible possible.”
“And if you can’t pull that magic trick out as a business over the next 10, 20, or 30 years, you’re not going to exist. Because that is the game that’s going to change. Don’t think about the technology, think about the changing customer experience and that move from impossible to possible,” Bodnar says.
When the internet launched, it was essentially decentralized and many companies that focused on internet services had a slight leg up as many tech firms began to invest in it and learn what it could do. Today, the internet has become drastically centralized with companies like Google and Meta owning many of the platforms we visit each day.
Because consumers want growing control over their experience and are more hyper-connected to technology than ever, some describe Web 3 as “giving the internet back to the people”, as blockchain-built web experiences are often decentralized.
At this point, it’s still a bit too early to know how many of the predictions we’re seeing will come to light. And, if they do become a reality, they’ll likely require a learning curve and a long adoption lifecycle. Because of this, the move from Web 2 to Web 3 might be much slower and more gradual than some would expect.
But, even though we likely won’t see the entire internet change in one day, week, or year, we’ll still watch some Web 3 concepts, companies, and technology grow in the coming years — which could enable us to adopt it at a quicker pace.
Ultimately, you don’t need to ditch your current business plan to focus on major Web 3 investments just yet. But, there are concepts, consumer behaviors, and tech you might want to keep on your radar so your company can adapt if and when a wide-scale evolution happens.
Since the emergence of YouTube in 2005, the prevalence and impact of video marketing have skyrocketed.
YouTube changed the game by allowing everyday users to upload, publish, and market their video content directly within the search engine.
Today, over 2.6 billion people use the platform.
And YouTube isn’t the only player in town.
Vimeo, TikTok, Facebook, and Instagram all have powerful video marketing capabilities to help businesses get found.
Local businesses can use video marketing to drive traffic, reach more customers, and grow online.
Benefits Of Local Video Marketing
- Website traffic: Publishing videos online and optimizing for clicks can drive more users directly to your website.
- Revenue growth: Video marketing can influence buying decisions and increase revenue for your local business.
- Brand awareness: Video exposes your business to more users across a wider range of platforms, helping drive visibility for your business
- Trust and authority: Posting valuable content can build trust with your audience and lend authority to your business.
- Search Engine Optimization (SEO): Embedding videos in your web pages and articles can help your site appear in Google organic or image search.
- Backlinks: Videos can add value to your content and encourage other websites to link back to your website, which is good for SEO and referral traffic.
- Email marketing: Videos make great additions to your email marketing campaigns, driving more engagement and clicks.
- Advertising: Many video platforms offer paid advertising opportunities to generate even more clicks and revenue for your business.
- Local presence: Publishing videos about your community or local events can help you attract more customers in your area, even if advertising online.
- Relevance: Creating relevant and engaging videos can further support your existing marketing campaigns, teach users about your business, and improve your digital footprint.
Video marketing is the future of marketing.
In the past, marketing was about getting your name out there. In 2022, it will be about creating an effective brand, compelling storytelling and measuring the success of that story. It’s no longer enough to create a brand and expect it to sell. Effective marketing requires both long-term thinking and short-term quick wins, which is why effective storytelling will be even more pivotal to a company’s success than ever before.
Video marketing will become crucial to the success of your marketing plan
This might sound like hyperbole, but there’s data to back it up. Search engine giant Google has announced that YouTube reaches more 18-34 and 18-49 year-olds than any cable network in the United States. Facebook reports that video posts receive six times more engagement than photo or link posts on average while Twitter has seen an increase in video views by over 160%.
It means that if you aren’t incorporating video into your strategy, you are missing out on a huge opportunity to connect with your audience and build trust with them. Video is key for creating customer relationships because it puts a human voice behind the brand, which builds credibility and loyalty with customers.
Content marketing will still be king
As we head into 2022, marketers should expect even more fragmentation and noise, making it harder than ever to break through the clutter with advertising messages alone.
Content marketing is one of the most important aspects of any digital strategy. Content has become a powerful way to connect with customers, engage them and build their trust. Bad content, on the other hand,. can be disastrous for your company. It will do more bad than good in terms of brand image and customer sentiment towards that brand or product.
These are boom times for digital advertising. While the pandemic battered the economy, the job market, and consumer confidence, it did little to quash a bonanza in digital ad spending.
US digital ad spending is surging thanks to increased investments in video, connected TV (CTV), and ecommerce ads, as well as growing use of programmatic channels. The health of the digital ad market is also reflected in a pendulum shift toward ad-supported video-on-demand (AVOD) services, despite the continuing strength of subscription-based services.
US digital ad spending will grow by nearly 50% in the next four years. By 2025, the digital ad market will top $300 billion—more than three-quarters of all media spending. Digital has eclipsed all other forms of advertising, and it has also outperformed our expectations several times in the past couple of years.
Metaverse & Metaverse Ads – Major 2022 Online Ad Trend
If there’s been a buzzword for 2021, it’s definitely metaverse. Even though the entire concept isn’t that new, when Mark Zuckerberg mentioned it in the context of Facebook’s (now: Meta’s) future, the market lit up instantly.
In this respect, in addition to numerous successful brands’ collaborations, the digital property space in metaverse has been recently booming, too, with valuations rising to record-breaking heights.
As for the prospects for 2022, metaverse in a whole, and metaverse advertising in particular, will definitely undergo its further evolution, yet its dynamics will significantly depend on how fast the implementation of infrastructure will be going forward.
The metaverse is already upon us, and for brands, retailers and consumers alike, there is an immense opportunity not to be missed.
20 years ago, it was unlikely advertisers would have believed you if you told them they would be spending such a significant amount of their budget on platforms like Facebook and Instagram.
Yet in the last decade, online platforms have become the lifeblood of countless companies, allowing them to reach much wider and targeted audiences than ever before.
“Projected global social media advertising revenue of $153.7bn in 2021 is expected to grow to $229.6bn in 2025.”
It might seem like a pie in the sky notion when we hear people saying how the metaverse will change the way companies and consumers interact.
“However, in the past few months, we have already reached a point where the question is not whether the dominance of the metaverse is going to happen, it is a question of when that is going to happen.”
via Yahoo Finance
Since we started tracking Canada’s ad market more than a decade ago, advertisers have steadily increased their investments in digital.
Back then, less than a quarter of ad expenditures were in digital. But last year, digital reached new heights at the expense of traditional formats.
In 2020, digital video ad spending exceeded TV ad outlays for the first time in Canada. Digital video gained the most momentum of any format last year, growing by 10.0% year over year (YoY). This includes both in-stream video formats (e.g., YouTube ads) and those outstream (ads appearing in social media feeds).
In 2021, digital video ad spending will grow by another 15.2% to CA$3.25 billion ($2.43 billion). Double-digit growth will continue for a couple more years, and by the end of 2024, the format will account for more than a third (34.0%) of digital advertising and about a fifth (20.2%) of all advertising.
Feeling fearful about marketing right now — the risk of being perceived as tone deaf or insincere and faced with infinite uncertainties – is a completely justifiable sentiment.
However, there is risk associated with allowing marketing to go completely dark. While we are in no position to pretend that it is “business as usual” right now, we are creative problem solvers. We’ve seen tough times before. And, unfortunately, we are bound to see them again.
First and foremost, you must kind to yourself and empathetic to others and you need to keep your priorities firmly in their place. However, you can extend these values to the work you do during this challenging time. It will help you weather this pandemic crisis and position you and the brands and businesses you represent, to rebound with responsiveness, agility, and strength.
The good news is that audiences are highly engaged with the media right now. The impact of Covid-19 on media consumption has been profound. We need only look at our own behavior to get a sense of it.
In terms of messaging to the right-now consumer, the key is that we are all in this together. Consumers, faced with their own job uncertainty, for example, are keen to do business with companies caring for their own employees.
Educational and informative messages are also both useful and engaging. These are particularly well suited to placement alongside news content, which is racking up attention (and which, according to the Association of National Advertiers, offersa highly suitable setting for most advertising). But, like the other content people are drawn to now, lighthearted and uplifting messages will also resonate. As ever, carefully consider the customer, your messaging, and the context of your placement.
That said, none of us plan to be in business for the short term. Thus, beyond consumers’ immediate needs, we need to think about our goal to develop long-lasting customer relationships. It is impressive to see everyone from family restaurants to car companies innovate with contactless buying experiences. Innovation, pivots, and helping customers cope with the challenges they currently face will create meaningful impressions.
The last decade has seen social media solidify into thriving, multifaceted communities where more than 3.2 billion people worldwide are active daily.
As we close this decade down, there’s no doubt that social media will play a growing role in our lives for the foreseeable future. So, how should businesses, brands and even the average user anticipate the future for social platforms?
Here’s a breakdown of some of the biggest trends we’ll see evolving on social media in 2020 and years to come.
Video story content is king.
Video continues to be one of the most important trends in the social media world. In fact, video will make up 82 percent of all internet traffic in 2020, according to Social Media Today. As social media platforms look for ways to further prioritize video content, marketers will increasingly zero in on videos as part of their overall strategies to target specific markets.
Keep a close eye on how this format reshapes marketing strategies. There will be an emphasis on creative, engaging storytelling that captures user attention in seconds. Brands will need to have a keen eye for how video stories engage users (especially on platforms where the like button goes away).
Personalized video marketing will become a thing.
Audience segmentation goes hand in hand with an increasing level of personalized social media marketing. It makes sense that combining segmentation with our love of video will result in personalized video marketing — think video content that is customizable and hyper-relevant to specific segments of your market.
Social media platforms, including Facebook, Instagram and Snapchat, are already pushing brands to produce video content through Story Ads, in part because these ad campaigns often see higher click-through rates than traditional News Feed ads. Twitter is also jumping into the fray with six-second video ads. Personalized content will take this trend to the next level.
Social media is the place to nurture trust.
Brands would do well to remember that social media isn’t just a platform for marketing and advertising; it’s truly the best place to nurture trust and build a relationship with their audience. Social media offers the ultimate opportunity for communicating brand value and engaging with potential customers on their level.
Doing this requires brands to find ways to have a free flow of dialogue and let their hair down. Showing your brand’s human side and increasing transparency will build confidence with audiences. Focus on fun, simple engagement, be responsive to customer communication, and find meaningful ways to show social responsibility and a deeper level of social interaction. Doing this will help you stay ahead of the curve on everything else on social media.
If there’s one thing any marketer should know in 2017, it’s this: video marketing works.
Since people spend one third of their online time watching videos, it’s understandable it influences their behaviour.
Videos influence viewers into taking action, whether that is visiting a page, giving their email address to a company, or buying a product.
Still, video marketing isn’t enough. If you don’t have a large enough social media following or email list, you may not get enough views to bring the desired results.
That’s why you need to use ads. Ads can help you increase the distribution of your videos.
What’s surprising is people like video ads more than they like regular ads. A Nielsen report from 2012, showed that 36% of people trust video ads. Not only that, but the people who enjoy watching video ads increase their purchase intent by 97% and brand association by 139%.
Considering that few people trust advertising these days, video ads become a highly effective way to reach new audiences and influence their behaviour.
The power of video marketing starts with the fact people like video over text. It’s human nature: it’s easier to watch something that’s both entertaining and easier to understand than to read something.
According to Animoto, there are 4 times more consumers who would rather watch a video about a product than reading about it. At the same time, if a consumer has the option to choose between text and video on the same page, 69% of them would prefer to watch a video to learn about a product or service.