More and more, companies are leaning towards advertising through YouTube and other online video outlets instead of television. Nielsen recently conducted a study showing viewership dropped by double digits for returning dramas airing on weeknights.
Around nationally televised programs (e.g. Super Bowl, awards shows, etc.), there will still be a fight over ad space, but it seems that more people are choosing to consume media online in their normal day-to-day. Additionally, due to the services like Netflix, Hulu and Sling TV, fewer people tend to subscribe to a traditional television service. This drop in television viewership is what’s making advertisers shift budgeting from TV to online.
This has become increasingly evident, as Magna Global, an advertising buying agency, recently shifted $250 million of its client’s money from television to YouTube. They are making this shift because they believe that marketers are paying more for television, yet aren’t receiving the in-depth data and insights in return. With online marketing, marketers receive a lot more data that can help them make smarter media buys.
As this trend continues, television execs will need to consider a shift in strategy and recognize digital video and online streaming services as proper competitors. With the wealth of data and information that is available when advertising online, it makes it easier for marketers to justify media buys, as they are backed with actionable insights and numbers. Moreover, this shift from television to online is great news for creatives.
Whether your creative idea starts on a cocktail napkin or a whiteboard, YouTube is a canvas of unlimited possibilities. Storytelling has changed in the digital era. Like it or not, the ad industry’s traditional approach to a story arc—beginning, middle, and end in a 30-second spot—is a thing of the past. Rather than telling one story in one video and uploading it once on YouTube, David Droga (Creative Chairman at Droga5) encourages brands and creatives to tell stories that can’t be “contained.” In other words, creatives must be prepared to evolve an idea and create the next chapter based on your audience’s reaction.
Successful online video content is a lot like the music industry. It’s not about creating one-hit-wonders. It’s about creating a sustainable audience that jumps at every new song (or video release in this case). In order to capitalize on this dynamic, creatives need to think about building a library of content that maximizes engagement opportunities all along the consumer journey. They need to make their content libraries a one-stop shop for inspiration, entertainment and utility — including inspirational brand messaging that aligns with your audience’s passion points, explainer videos, product demos and more.
Luckily for you, we’re here to help!
Mike Aldo, Create Media