Marketers continue to invest in video this year, but are frustrated with the current advertising landscape, according to a report by the CMO Council and ViralGains.
The report, “Engage at Every Stage: An Investigation of Video Activation” surveyed 233 senior marketing leaders during the first quarter of 2018, of which roughly 109 hold the title of CMO or senior vice president of marketing. Some 43 percent of respondents represent companies with revenues greater than $1 billion, and 47 percent hold the title of CMO or senior vice president of marketing for their organizations.
Digital video is considered more important than other media investments by 28 percent of respondents and 40 percent say that video is growing in importance. However, nearly all marketers disapprove of viewability definitions.
According to the Media Rating Council, a video view is defined as 50 percent of content playing for two consecutive seconds with the sound off. The survey found that only three percent of respondents agree on this definition. Of those who agreed, 30 percent admit that they can only approve of it because there isn’t a better metric to embrace.
Inspired by companies like Proctor and Gamble and Unilever drawing lines in the sand for digital advertising to provide better transparency and trust, 95 percent of respondents agree that digital media’s “free ride” is over. Despite this zeal for change, 52 percent of respondents were unclear about how to act or facilitate change, indicating a need for improved leadership and direction across the digital advertising industry.
Of the respondents, 163 indicated that they are actively investing in digital video advertising. According to the report, 96 percent of marketers intend to increase video investments in 2018, with nearly half increasing spend by up to 25 percent and 15 percent indicating an increase of more than 50 percent.
Marketers are placing an emphasis on social media for their video efforts, the survey found. Twenty-six percent of respondents have earmarked more than half of social media investments for video ad placement.