People spend more time on the Internet than in front of the TV, reading books/magazines, or even on their phones. Does that surprise you? Most of us spend all day online – we call it ‘work’. Then a large majority of us go home and spend even more time online – we call that ‘play’.
Online media consumption has surpassed TV for heaven’s sake! TV- considered the medium with the largest reach and most captive audiences for years by advertisers. Dethroned?
A 2010 report by Nielsen found that 72 percent of online users were viewing video online. That was 3 years ago.
Advertisers follow the audience. Online advertising has been rapidly encroaching on traditional media’s portion of the media mix pie for the last several years. And according to Forrester, spending on online advertising is in fact set to exceed TV spends by 2016.
No one is turning their backs and forgetting the mass reach of television, but the truth is the online channel is now beginning to offer the same level of audience reach – but with arguably better engagement and at a more affordable price point.
Based on the rapid intake of this medium, it’s clear that advertisers are seeing increasing value in advertising with online video, and there are more ways than ever to take advantage of the opportunity. You’ll run into video ads everywhere – Youtube, Linkedin, landing pages and websites.
Traditional advertising is changing – you might be able to thank Old Spice for the brilliant ‘Man your Man Could Smell Like’ campaign that has over 44 million views on Youtube. In 2010, this was a non-traditional gamble that paid off HUGE for the Old Spice brand and sales!
Is your audience online? No doubt about it. Are they watching videos? Based on the numbers, at least 3 quarters of them are consuming online video regularly. So maybe instead of investing so much of your advertising dollars into traditional TV ads, Magazine/Newspaper ads… you should follow the eyes of your audience and invest in a little online video!
