According to a survey conducted in December 2008 by PermissionTV 67% of US Marketers responded identified online video as a "primary focus" of their 2009 digital marketing campaign in 2009. This amazing number is 50% higher than Social Media, and about double of Search, Podcast, and Rich Media. Does this mean we will see more spending on video ads than search and banner ads combine? I don't think so. I think this represents what's on marketers' minds as the next frontier but it does not necessarily represent their actual budget allocation. According to eMarketer's projections in November 2008, 2009 spendings for Search and Display Ads are still by far the highest online ad format at $12 and $5 Billion, however, we can see that Video also shows the most significant growth from $587 to $850 Million in this study. This speaks well for companies like Hulu.com and Google (Youtube), especially during recession when more people are expected to stay home and surf the web. We can also see another related trend with all the mobile video updates on sites like Facebook.
Regarding the marketing objectives, a vast majority (71%) stated it would help build brand awareness. Other objectives includes: lead generation (47%) and enhancing loyalty/retention programs (44%) and converting customers (41%).
As to the tactics, the highest priority, with 63%, is to invest in a branded content/video destination. Viral video (39%) and interactive experiences (38%) are the next highest. Only 22% plan to invest in simple syndication.
Sources:
eMarketer: Marketers Eye Online Video for 2009
PermissionTV: Industry Survey Forecasts Adoption of Interactive Video in 2009
