Online-video advertising is still dwarfed by television advertising. But fear not the recession, online video advocates! Fear not these gloomy photos of the depression that you’re seeing on all of the weekly magazines. And this is according to Christine Beardsell from Digitas writes in a ClickZ article.
Here are three reasons Beardsell says online video advertising will come out ahead during an economic downturn. Parenthetically, search “recession” on Google Trends to see how freaked people are getting.
- No Longer Experimental. Past economic crises often led CMOs to cut back on experimental advertising, and they rely on the skills and responsibilities they’ve traditionally relied upon… as Keith Bobier, senior director of marketing at Unilever, put it: “We are not pulling in the reigns at all…there is nothing experimental about this for us.” In fact, during financial struggles, aren’t the customer-centric things exactly what brands and their customers need most?
- Possible, Affordable Optimization: If you’re a marketing executive given the option to either make two new TV spots for the year… or create several video brand content experiences throughout the year that can guarantee measurable, detailed, optimized results and build engagement with your customer, which option would you choose? You get less for more when it comes to TV spots.
- Less Buying, More Conversation: While there may be a lot less money to spend when money is tight, that doesn’t necessarily mean people will spend less time engaging with your brand. In fact, frugal spending often means longer hours researching products and discussing those products with trusted friends and family. And with research and conversations now happening predominately online, brands more than ever have the opportunity to join these discussions and help customers make smart purchasing decisions.
I’d add two things. When I tighten my marketing budget, I tend to focus on squeezing down the largest spend, and not starve innovation. So as long as online-video ads provide metrics (see Daisy Whitney’s article on TubeMogul and Visible Measures) then they’re not going to be the first part of the mix that’s cut.