Brands are continually reviewing their marketing strategies and as part of their marketing mix, global products and consumer brands are increasingly using online video adverting is a means of generating product awareness and as a means of instantly engaging with their consumers through the use of online video. This view is further enforced by various experts, including MagnaGlobal who have recently published their forecast that states that online video will be the fastest channel for advertising new consumer products and that average annualised growth will be 20% up to 2016.
This forecast suggests that online video and viral video marketing in particular is growing in importance as a mechanism of both engaging the individual consumer and at the same time generating huge consumer demand for the branded product. It is vital that this is understood prior to the creation and subsequent delivery of a successful strategic marketing campaign.
Previously visual (e.g. TV, Cinema and Banner) advertising was the primary means of generating consumer awareness when launching a new product or reminding consumers about an existing product; and then came more direct method of marketing, such as direct telephone selling, telephone directories and basic websites coupled with PPC campaigns from search engines such as Google, Yahoo and Bing
Before the launch online video advertisement and more specially the viral video marketing, there was a clear distinction between this Above The Line (“ATL”) and Below The Line (“BTL”), whereas ATL typically dealt with all forms of untargeted advertising and general awareness, thus creating demand; whereas BTL deals with the direct sales and consumer promotional and discounting methods. Thus, online video advertising truly merges these two previously distinct marketing mechanisms and enables brands to launch new products using mass-scale and target marketing methods, whilst obtaining feedback through sophisticated analytics and technology.
With platforms such as YouTube and other more subject specific publishers, the viral campaign is fast becoming part of our planet’s culture and with increasingly more sophisticated technology, including smart mobile telephone and social media conversations, the consumer is far more connected now than ever with brands. Moreover, brands are quickly understanding that they can have a far more targeted social media conversation with their potential customer and at the same time generate a direct lead to an eventual sale, whilst building longer term brand loyalty.