The majority of advertising agencies believe holistic buying and planning is the future, according to the findings of an independent study conducted by Forrester Consulting in September 2014 on behalf of Videology entitled, “Cross-Platform Video Advertising Accelerates.” The study reports that 63% of agencies expect to merge traditional and online video buying groups in the future, but 51% said they would continue to plan each platform separately.
The survey results show that video advertising decision makers in Europe see the continuing shift of video viewing across devices as a positive opportunity for the entire ecosystem. However, there are distinct challenges surrounding measurement, leadership between digital and traditional media teams, technology platforms available to meet the changing needs of today’s brands, and media companies as consumer content consumption habits evolve.
Key findings also include the consensus that audience targeting is the greatest advantage of video advertising. The ability to target specific consumers was the highest benefit to video advertising in Europe, followed by higher audience attention. However, there are differences across each country. France ranked ‘Enhancing video with interactive features’ equal to targeting. While, Spain saw the ability to reach consumers not reached on TV, delivering messages at different times of the day, and controlling reach and frequency as the key benefits. The UK placed more emphasis on ROI accountability over all other countries – signaling the maturity of the video advertising market in the region.
In general, media companies were found to see the potential for second-screen viewing experiences. 72% of media company respondents believe consumer engagement with content on a second screen will increase moderately or significantly over the next three years.
“As technology providers, we’re in a unique position to be able to alleviate these challenges for the advertising community and be an accelerator for broad adoption,” says Anne De Kerckhove, managing director, EMEA at Videology. “We ushered in the programmatic model in response to a greater need for efficiency in the way advertising is bought and sold. The industry is now crying out for standardization across video advertising measurement and audience targeting across devices. If technology providers listen to what the industry needs, we can deliver solutions that will catapult the industry forward and increase revenues across the board.”