A look at the value of digital video beyond the GRP.
Most large brand advertisers think of TV as a very valuable aspect of their awareness efforts. The more gross rating points (GRPs) that are purchased against a particular demographic, the more scale, visibility, and reach an advertisement can achieve. To be honest, we would be remiss to deny the power. According to Nielsen, the average consumer still watches about 153 hours of TV a month, but 172 million Internet users (81 percent of online population) also watch on average 15 hours of digital video content per month (comScore, April 2011).
If we bundle the idea of video as one entity vs. separating TV and digital, we would realize it's everywhere. Video can be found in the gym, the grocery store, your car, and is widely accessible across all personal devices, such as computers, smartphones, tablets, and TVs. The idea of programming and entertainment by appointment is becoming obsolete and "content now" is a consumer demand. The new consumer expects to access content when, where, and how they want.
Contrary to popular belief, this new consumer spans all demographics, with the latest stats putting the 50+ demo at the largest for video consumption (32 percent of all demographic splits, followed closely by ages 18 to 34 and 35 to 49, both at 27 percent, according to Nielsen, November 2011).
Technology advancements are the key driver to these catastrophic changes in consumption habits:
And these are just a few of the major changes in the past five years.
Why You Should Like Digital Video
What the Future Holds
As digital media professionals, we know the landscape is changing. We should be taking advantage of the many ways to leverage new media as part of an integrated mix. However, we still struggle to quantify its value in the appropriate fashion. Some of us will adapt the digital video impressions into GRPs and others will speak to engagement metrics. But which is correct?
In my opinion, the major changes in the future will need to be standardization. More and more pricing models have extended to allow for buying on GRPs or full video views to make digital more accountable. As the digital technology becomes more interchangeable with traditional media, the metrics will need to change to encompass a holistic view of overall results, whether traditional TV or any form of digital video.
This Year's Premier Digital Marketing Event is #CZLSF
ClickZ Live San Francisco (Aug 11-14) brings together the industry's leading practitioners and marketing strategists to deliver 4 days of educational sessions and training workshops. From Data-Driven Marketing to Social, Mobile, Display, Search and Email, this year's comprehensive agenda will help you maximize your marketing efforts and ROI. Register today!
As an account director for Media Contacts in New York, the interactive division of Havas Digital, Jessica is responsible for strategy development and media plan execution across a variety of clients and industries. Jessica has a wide range of digital experience, managing both brand initiatives and aggressive acquisition efforts. Her knowledge extends across many facets of digital marketing from traditional media and mobile to channel planning and social execution.
Prior to Media Contacts, Jessica was at One to One interactive in Boston, managing the B2C and B2B media campaigns for several clients. Jessica's work has won several industry awards for best use of sponsorship, mobile, and display strategy.
Jessica's career expertise started at Mullen, where she was a media planner on a broad range of traditional media.
The Marketer's Guide to Customer Loyalty
Customer loyalty is imperative to success, but fostering and maintaining loyalty takes a lot of work. This guide is here to help marketers build, execute, and maintain a successful loyalty initiative.
The Multiplier Effect of Integrating Search & Social Advertising
Latest research reveals 68% higher revenue per conversion for marketers who integrate their search & social advertising. In addition to the research results, this whitepaper also outlines 5 strategies and 15 tactics you can use to better integrate your search and social campaigns.
August 21, 2014