While advertisers are generally pleased with the growth in online video advertising, many want more targeting, according to a just-released report from research firm Forrester and video ad platform Videology that surveyed 150 advertisers, media companies
and agencies in the U.S and Canada.
About 51% of brands said the ability to reach specific consumers was a key benefit of video ads, compared with 37% of agencies. Meanwhile, about 43% of agencies like the improved audience attention in video ads -- but only 27% of advertisers cited that as a key benefit. Marketers also want to be able to target consumers that they aren't reaching with TV with online video.
In general, respondents are optimistic about the CPMs, effectiveness and ad revenue from video ads. There’s a cautionary note, though. “Advertisers aren’t quite as bullish about this future as their media company and agency colleagues, and so approach this evolution more cautiously. Advertisers are more attracted by the promise of targeting and better communication, while their agencies emphasize interactivity and greater audience attention,” Forrester said.
The biggest issue lies in cross-screen planning, and the lack of effective measurement. All respondents said they “struggle” with understanding audience behavior across video screens. What’s more, the use of the GRP isn’t satisfying to some marketers as a cross-measurement tool, the report found. Many marketers crave the nirvana of some sort of cross-screen planning, and 70% of advertisers and agencies believe it’s likely that campaigns will be planned “holistically” across all video venues in the next three years.
Agencies, media companies and advertisers are in agreement that the time viewers spend watching online streaming and using multiple devices will only grow in the next few years.