The ultimate guide to video advertising in 2024
As we move quickly through 2024, technological advancements and shifts in consumer behaviour continue to change and reshape our environments, presenting fresher opportunities for advertisers.
Incorporating video into your marketing strategy this year, whether that’s paid or organic is vital.
In this guide, we’ll explore best practices to utilise video advertising whilst leveraging platforms like Microsoft Advertising and tapping into emerging channels like Connected TV (CTV) and advertising on Netflix.
The rise of video advertising
According to Animoto, 78% of marketing professionals say video helped increase sales, and that 87% of marketers acknowledge that video supports a direct, positive impact on sales.
With these high statistics, it seems like a no-brainer to utilise video within your paid advertising this year.
The rise of video advertising marks a transformative shift in the marketing landscape, reshaping brand engagement strategies.
With the growth of online platforms and the use of smartphones increasing, video content has become crucial, offering countless opportunities for brands to connect with their consumers.
Video allows brands to incorporate storytelling like never before, creating engaging and immersive ad experiences for the viewer. Video content is versatile, from brand storytelling to product demonstrations, videos allow brands to convey their message in a variety of compelling ways to evoke emotion, drive action and foster brand loyalty.
There has been a massive advancement in targeting algorithms and personalised ad delivery, specifically within the Microsoft Advertising (MSA) platform, advertisers can now tailor their messages to specific demographics, increasing the relevance and impact of their ads.
The importance of online video advertising in 2024:
Let’s run through a few reasons why you should consider implementing videos into your paid advertising this year.
Attention-grabbing:
- Unfortunately, we’re in an era of information overload, video ads, however, stand out against the noise, grabbing viewers’ attention more easily.
Brand awareness:
- Video advertising is an effective platform for building brand awareness, leaving a more memorable presence in the minds of consumers.
Audience engagement:
- Video ads offer a dynamic and interactive experience, typically encouraging viewers to engage with content and take action
Conversion Rates:
- Studies have shown that video ads can lead to higher conversion rates compared to other forms of advertising. These can include driving to valuable actions such as website visits, purchases and sign-ups.
Mobile Accessibility:
- With the increase in smartphones and tablets, video advertising is more accessible than ever. Advertisers can reach audiences wherever they are, at any time.
Personalisation:
- You can leverage advanced targeting capabilities to deliver tailored video ads. You can utilise the MSA platform to deploy these personalised campaigns, reaching audiences based on their preferences and behaviours. Tapping into CTV and video advertising allows for highly targeted advertising, delivering content to viewers based on their streaming habits and interests.
Let’s dive more into video advertising through the Microsoft Advertising Platform.
A quick dive into video advertising with Microsoft Advertising
According to Microsoft, by 2024 60% of the US will be streaming their favourite shows on Netflix, Roku and more.
Consumers are now more captivated by narrative and storytelling, and these moments can be captured in CTV and video ads.
Also in the US, 90% of Gen Z are using two screens at a time, so whilst they’re binge-watching their favourite shows on one screen, on the other they are working, sending emails, booking trips, buying gifts and more.
Microsoft provides a powerful platform to showcase video ads across a whole ecosystem, combining unique data signals, exclusive partnerships with streaming platforms and more. MSA allows advertisers to effectively reach audiences in their niche, reaching highly relevant audiences with video, leading to higher ROI.
If you’re new to connected TV and video ads on the Microsoft advertising platform we have various blogs covering types of video advertising, specifically what is connected TV? But, we will give a quick overview here:
What is connected TV?
Connected TV (CTV) ads on the MSA platform offer an effective way to reach your target audience. They are full-screen, non-skippable video ads that play when viewers stream shows and movies on their TVs.
Online Video Ads
These ads play when your audience watches videos or browses the web on desktop, mobile and tablet devices.
Microsoft advertising allows precise targeting from, remarketing, similar audiences, in-market audiences, customer matches and more.
Advertising with Connected TV helps you reach more viewers and highly valuable audiences:
- 405B+ monthly CTV impressions in the US
- 18% lift in CTR on audience ads
- 9% lift in brand searches.
Furthermore, The rise of CTV presents opportunities to connect with viewers as they consume content on streaming platforms like Netflix.
Advertising on Netflix
In 2022, Microsoft launched Netflix’s ad-supported plan. Advertising on Netflix allows brands to tap into the growing audience of cord-cutters and deliver targeted ads directly to their screens. This is an exciting opportunity for advertisers, with many pros:
Viewership
With Netflix cracking down on users sharing profiles, a lot of customers switched to the ad tier plan, and users are making good use of their subscriptions by binge-watching movies and series daily.
Not only are there hundreds of millions of people on Netflix (if not more) these viewers are also paying attention. Advertisers have their audience’s complete focus, in the comfort of their own homes, without having to focus so much on grabbing their attention, brands can focus on the selling part.
This is prime real estate – giving advertisers a wonderful opportunity to put their ads in front of a significant portion of their target audience.
Authority
Unless you’ve been living under a rock you know, Netflix is huge.
Netflix wouldn’t allow just anyone to advertise on their platform so brands can quickly establish trust and authority with their audiences, two essential criteria for increasing ROI.
If you’re interested, you can explore advertising on Netflix and Connected TV with Diginius through the Microsoft Advertising Platform.
Strategies for successful video advertising in 2024
Where do I start? This may be a question running through your mind if you haven’t explored video ads yet.
Worry not! Here are Diginius tips on where to begin… and if you’re still left wanting more information on advertising with Microsoft through the Diginius Insight Platform feel free to reach out.
Know your audience
This is a no-brainer! Essential for any form of advertising, you should know your audience well when creating video ads that resonate with viewers. Conduct thorough market research to identify their preferences, interests, and pain points.
Create compelling content
Invest in high-quality video production that captures attention from the outset and delivers clear and compelling messaging. If you’re a smaller agency or brand, you may not have the budget or capacity for high-quality content, but that’s where AI can be beneficial. Check out our Top 5 AI tools for content creation to get started.
Optimise for mobile
Given the prevalence of mobile devices, make sure your content is optimised for viewing on smartphones and tablets. This way it caters to all consumers even when they’re on the go.
Utilise data and analytics
Leverage data and analytics tools to track the performance of your video ads and gain insights into viewer behaviour. This information can be used to make data-driven decisions to refine your targeting, messaging and bidding for maximum impact.
Experiment with emerging trends
Stay ahead of the curve with emerging trends in video advertising, such as interactive content, augmented reality (AR), and shoppable ads. Exploring these can help you capture your audience’s attention.
What’s next?
By understanding the importance of video advertising and the variety of ways you can connect with audiences in your niche, brands can unlock their full potential and work towards their marketing objectives.
Furthermore, taking advantage of Microsoft Advertising, whether that’s through Connected TV, Video Ads or Netflix, opens other revenue streams for advertisers, offering a variety of platforms to reach your target audience in the evolving ecosystem of today.
Convinced about video advertising? As a Microsoft ads partner, we can help you! If you’re a marketing agency, head to our website to find out more about our Diginius Agency Partner Program. Meanwhile, if you are a business managing your paid advertising in-house and you’d like our support, discover how our Diginius Insight Platform boosts your ROI.
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