The IAB Australia Video Summit in Sydney analysed the latest industry research on how agencies and marketers are using digital video and their plans for the next 12 months.
Natalie Stanbury, research director at IAB Australia, reviewed survey results from the 2022 IAB Australian Video State of the Nation Report.
The report found that increasing brand awareness is the predominant objective for all digital video advertising. More than eight in ten agencies who used digital video for increasing brand awareness have been satisfied with campaign results.
Of the key performance indicators used to measure campaign success, reach and frequency was first among those surveyed at 69%.
The report said that although the most commonly used campaign delivery metrics – including cost per completed view and completion rates – were also near the top, there has been an increase in the usage of all metrics over the last year.
IAB's anaylsis noted that this means agencies are increasingly using delivery metrics in combination with other effectiveness metrics, with Stanbury saying: “It’s not a question of which format to use, but how best to that implement within your strategy.”
Moving forward, IAB suggested a number of strategies to ensure agencies can get the most out of video:
- Continue to invest in digital for video for long-term success; it's a proven, cost-efficient brand builder
- Measure what you set out to achieve, aligning campaign objectives with measurement
- Experiment with formats and creative to ensure you are optimising effectiveness by producing content that is tailored to the environment and the audience
- Prepare for the environment of third-party cookies, understanding the impact of planning, activating and measuring activity
- Understand the changes and opportunities with industry endorsed cross-screen digital video audience data and planning tools coming soon
Creativity, effectiveness, and the use of data in video campaigns
Moderated by Gai Le Roy, CEO of IAB Australia, a panel discussion looked at how marketers are using and assessing video advertising.
Belle Tayler, senior marketing manager at Spotify, said those in the industry need to capture audiences where they are.
“It’s about looking at what is going to achieve time and attention from your audience.”
“For a company like Spotify, who has high brand awareness in a mature market, we’re not fighting for recognition - we’re fighting for time.”
The panellists were posed a pair of thought-provoking questions from Le Roy – what’s one thing they’d improve in the industry and one thing that has improved over the years?
To the first question, Tayler said: “Finding more parity across digital video platforms so we can compare like to like", an answer somewhat echoed by Sarah Sorrenson, media & digital hub director for Unilever.
“Cross-screen measurements and being able to plan and understand total video campaigns to minimise wastage and maximise the opportunity of reaching audiences,” said Sorrenson.
“We need opportunities to integrate where our consumers are viewing great video content.”
William Hasko, market lead of ANZ, SG & MY for small business marketing at Dell, echoed those sentiments, saying “better understanding of wastage around spending.”
On a more positive note, Hasko said one thing that improved is “production costs and the way you’re able to produce video content."
Patrick Whitnall, marketing director for TWENTYFIVEFOUR praised “the pure creativity that creators are now given”, referencing TikTok and it’s growing role in advertising.
Sorrenson said: “Video being relevant at different parts of the funnel. The opportunities in the media to run multiple different formats that are very targeted at audiences is a big shift, driven by video and media industries more so than agencies.”
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