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Ad execs think online video ads are equally or more effective than television ads at reaching audiences
For automotive marketing professionals, the online video advertising ecosystem has gained both prominence and complexity... This might be because buyers have found that online video ads actually work! The growing effectiveness of various types of Online Video Ads has pushed media companies and web site publishers to develop an ever increasing array of video advertising products for car companies and car dealers to consider.
A March 2013 survey of US advertising agency executives (including those servicing the auto industry), conducted by online video ad platform BrightRoll found that the vast majority of respondents (75%) said online video ads were equally or more effective than traditional TV.
It is also worth noting that Nine out of Ten (90%) also thought online video ads had equal or greater impact than display ads.
Automotive Advertising executives may be responding to US consumers’ seemingly endless demand for online video. Video monetization firm FreeWheel reported that in Q4 2012, total video views among US internet users climbed 23% year over year. The popularity of digital video viewing is helping drive the expansion of the online video ad market.
eMarketer estimates that video ad spending in the US will grow 41.4% this year, to reach $4.1 billion. BrightRoll found that the greatest percentage of advertising professionals—one-quarter—expected online video ads to see the highest growth rate of any ad category, with mobile video a close second.
The growing complexity of the online video ad market means that automotive advertisers now have a variety of ways to measure return on investment. But which method is best? This year, 36% of ad executives indicated that their clients placed the highest value on gross rating points (GRP) or target rating points (TRP) to measure the size of their audience.
Still, another 30% said clients valued the percent of impressions that reached their target audience, while 24% named the percent of unique viewers in target.
Automotive Ad buyers at Tier 1, Tier 2 and Tier 3 levels in the car business are facing an increasingly complicated equation when it comes to online video ads, and they need to consider which sites to purchase ads on, what format the ads will take and how to measure their effectiveness.
Read more at the Source: Emarketer.com/Ad-Agencies-See-Effectiveness-Online-Video