On Thursday, October 22, Jim Nail, Principal Analyst at Forrester Research delivered a webinar on the rise of digital video, highlighting key statistics on how different generations consume digital video and outlining how marketers can construct digital campaigns to cater to them. The session was hosted by Michael Horn, Chief Analytics Officer for Resonate.
Key takeaways from the session included:
Video now offers a smorgasbord. Mr. Nail stressed that consumer viewing habits have “atomized,” with consumers now viewing video across a variety of channels and devices. “Less than half of consumers view linear TV monthly,” Nail said. According to Nail, Millennials lead the adoption of online viewing, with 62% of US online Gen-Y’ers watching four or more hours of video weekly versus 47 percent of Gen-Xers. The good news, according to Nail, is that “there are more opportunities to reach targeted audiences with relevant ads.” The challenge: that “no single platform will deliver a mass audience.”
Serve up the right video diet for your audience. Nail illustrated how the type of content consumed now largely drives on which device viewers consume the content. Marketers must “serve a balanced video diet,” Nail said. A balanced diet means spreading your digital ad dollars across broadcast channels, OTT apps, video aggregators, and other channels, according to consumption needs driven largely by generational habits.
Video becomes an even more powerful marketing tool. In the old advertising model, Nail says, broadcast television dominated; today, the broader category of video dominates. Nail’s key messages to marketers (all bullets courtesy of Nail):
- There are more opportunities to deliver sight/sound/motion brand messages.
- Video can address more marketing objectives than just mass reach.
- Marketers should shift money from print and radio.
- Marketers should learn programmatic and targeted buying.
Here’s one more takeaway, courtesy of Resonate: the key to delivering more impact through video is crafting digital messages that connect with consumers based on deep understanding of their values and motivations.
You can download the webinar presentation slides here.