Video budgets to hit $8 billion by 2016: Get in the game now

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by Brafton Editorial
Video marketing is set to increase as more internet users engage with visual media.

Diverse content portfolios offer web users an array of media types that educate throughout the sales pretzel. Now that consumers are admittedly spending longer periods of time researching before they buy, marketers must develop content marketing strategies that engage with people throughout the purchase cycle, and video marketing may be the solution.

According to eMarketer’s “Video Advertising Benchmarks: Key Data, Trends and Metrics” report, the digital video audience is growing in both number and time spent viewing. This trend should encourage professionals to invest resources toward video content.

Video Content PostThe eMarketer report projects there will be 201.4 million digital video viewers by 2014 – about 76.9 percent of the overall internet user population in the United States. More, video marketing spend will increase from 2.93 billion in 2012 to $8.04 billion in 2016. With video content becoming a widely used type of media, a greater focus on basic benchmarks content creation must come into view.

As Brafton has reported, 86 percent of U.S. internet users have been misled by video ads disguised as content. Marketers who aren’t upfront about corporate sponsorship of video content might push leads away rather than pull them in closer. Branded content should be honest – immediately inform viewers what they’re about to see. Brand perspective infused in videos should be treated as an asset rather than a limitation.

Additionally, eMarketer reports that completion rates and brand lift are two essential metrics marketers should use to measure their campaigns. New data from video ad network YuMe indicates shorter ads have higher completion rates.

 ”Brand lift: A content marketing concept that refers to greater awareness, preference and intent to buy.”

However, Brafton reported that video content that extends beyond 20 minutes has a 93 percent completion rate. Video marketing success depends more on the value of a clip than its running time. 

Overall, a content marketing strategy should be designed to increase brand lift. A 2012 survey from Digiday and Adap.tv shows that video had the biggest impact on awareness, with 54 percent of respondents saying visual media improved brand lift.

As more businesses move toward video content creation, outsourcing projects to content marketing services may help projects become fully realized campaigns. Strategic efforts will increase both completion rates through transparency and brand lift via thought leadership.

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