TV may hold the largest share of ad spending worldwide, but many marketers are eyeing the potential of online video as not only a viable alternative, but perhaps even a better one, according to a recent study from AOL’s Be On. Among the 772 respondents from leading brands, media and creative agencies in the UK, Europe and North America, 58% believe that for the same investment they can achieve better share of engagement with online video than with TV. Another 15% said online video would drive the same amount of engagement.
Respondents were slightly less enthusiastic about online video’s ability to outdo TV in terms of awareness. Still, 47% feel online video can outdo TV in generating awareness for the same level of investment, and 24% said it could at least match TV.
Marketers appear to be acting on these beliefs, too. 73% of the respondents said they had increased their investment in online video in the past 12 months, with TV and display cited as the most common sources from which budgets have been taken. That supports earlier survey results from Adap.tv and Digiday, which found 72% of video buyers’ budgets for the medium increasing in the last year, with 39% of those re-allocating funds from TV budgets.
When planning a new online video campaign, respondents to the AOL survey indicated that targeting (87%), reach (85%), content (81%), and price (80%) are the most important factors. Better audience targeting (73%) and measurement (67%) were the top reasons given for increasing spend in the future.
- Asked which formats they are increasing spending for next year, respondents most often pointed to pre-roll (73%) and social (53%).
- 64% are satisfied with today’s video services.