Report: Brands, Agencies to Increase Video Spending Across Platforms
- by Ross Fadner , August 2, 2012
Most marketer and agency executives anticipate increasing their digital video advertising spend this year, according to a new study from Advertiser Perceptions -- and a good portion of the momentum will come from the combined deployment of video creative across TV and digital platforms.
The Video Advertising Convergence study, which queried Advertiser Perceptions’ database of agency and brand execs, found that 69 percent plan to increase digital video spending over the next 12 months. Respondents cited three main sources as driving the increase: a reallocation of funds from other budgets (primarily print and billboard), a general shift from banner to digital video advertising, and lastly, the migration of TV dollars to video.
The study found that TV buyers, especially view digital video as an extension of their traditional TV plans, extending the reach of a TV campaign while offering more precise targeting.
Michael Turcotte, SVP, digital activation at Zenith, agreed that marketers and agencies are rethinking the one-size-fits-all creative approach. “They must now balance production budgets with the multiple different ways to deploy video and take advantage of the medium's benefits. While the ‘TV’ is still the dominant screen, the other screens offer a level of engagement and targeting that help drive up ROI. Marketers must seek ways to deploy both, efficiently."
Some agencies are pushing to integrate their TV and video-buying teams.
"During the recent upfront, we worked hard with our digital leaders at Initiative to combine digital and television purchasing,” said Kris Magel, EVP, director national broadcast, Initiative. “It's good for the marketplace, it's good for advertisers…we are advising our clients on a holistic approach to video and they want to know more about what's available.”
He added: “Media brands need to build combined digital/television packages that show the advantages of annual commitments -- with significant flexibility and research that proves its value."
I feel it is still too early in the day to look at TV and Online buying in the same long term vein. No, not because online is unproven, but because of the pace of change online and how quickly traffic evolves (and devolves). Web space buying is best served by short term campaigns where advantage can quickly be taken of emerging trends.
I understand that we are discussing the purchase of millions of impressions or other large measures of effect here, and that the smaller promoters we are most used to dealing with don't look to these long term agreements in anything but perhaps their local print media, but it still holds true.
Instead of making things more convenient and perhaps wasteful, pay closer attention to the sway of the online traffic tide - It is different every time it goes in and out.
Mike Dawson of: sollylabs.blogspot.com
I laugh when I hear these "big" agency sweeping statements as if they are the first to think of this. We have coordinated TV and online video for years..