23 Apr The Evolving Approach to Video Content Marketing
The changing ways of TV viewing
Are you one of the people who no longer watch their favourite television shows on their original airtime? Do you turn to your broadband connection and mobile gadgets instead to watch television shows? These and a lot more are just a few of the changing ways that people in this Internet-driven world embrace in their video viewing habits that affect the way advertisers do their content marketing strategy.
Traditional TV vs. digital video advertising
Apparently, these notable changes in people’s viewing preferences caused by technological advancements are excessively significant that marketers come to the point of rethinking their content marketing approach and medium. Traditional TV campaigns at the moment still play a huge part in brands’ advertising preference. However, due to the increasing attention to videos, digital players such as social media giant Facebook have been actively bridging possible opportunities in taking the share of people’s interest in videos. Just recently, Facebook announced its new video ad platform called Anthology, which targets marketers and advertisers to promote the use of its own video viewer feature.
Today, we can clearly expect that video content marketing will stockpile a substantial share of people’s attention as well as marketers’ interests. The conflict among various marketers’ preference with regards to their ad spending on digital mediums against the ROI can be expected to increasingly take place this year as digital marketing agencies and brand managers shift to video as a focus content marketing type. With different marketing communications approaches, shifting from a focus advertising avenue to another (such as from traditional TV ad to online digital ad) can be a tough decision. But marketers need to mull over the fact that videos and digital advertising in today’s digital world cannot be separated. Otherwise, you can be blindly slashing the main course off your plate when it comes to targeting the right audience.
The P&G example: Adjusting to the evolving ad sphere
The changing environment of the advertising industry is a constant occurrence that brand marketers will need to adjust to. But for this generation, the changes continuously happen faster than ever due to technology, internet and the growing need for quality content. To consumer goods giant Procter & Gamble Co. (P&G), the adjustment has already started several years back. P&G is a known active participant in the marketing world through its wide range of consumer goods products including Tide, Crest, Gilette, Pampers, to name a few. Since 2005, the company has started to sharply cut down its spending in traditional TV commercials. Years prior to this decision, there has already been an increasing doubt on the effectiveness of traditional TV commercials due to the increased exposure of people to technology and online connectivity.
As it becomes easier for people to skip commercial nowadays, advertisers pose major challenges in reaching its audience. Moreover, the digital videos are becoming incredibly crowded through time. And where the crowd goes, the marketers follow. Today, video viewing sites such as YouTube and Facebook push for better advertising opportunities to compete for users’ attention. It is clearly comprehensible why P&G took this shift early on.
P&G’s then global marketing officer, Jim Stengel, declared at a conference of media-buying executives in 2004 that “There must be, and is, life beyond the 30-second TV spot,” In relation to quality content marketing, he also mentioned that…
We must embrace the consumer’s point of view about TV and create advertising consumers choose to watch.”
What is the significance of P&G’s advertising moves?
Being one of the largest consumer goods providers around the world, P&G’s content marketing strategy affects other companies as a response to the increasing competition for people’s attention and loyalty. In 2004, the company became the No. 1 US advertiser, recording a TV ad spending figure of US$2.5 billion, which was more than 80% of its estimated ad budget during the same year. The following year, the company began to announce the cutting of its TV ad spending by some 25% on cable channels and around 5% on broadcast networks. The amount saved due to the reduction of traditional TV advertising spend are to be shifted to a more advanced form of TV advertising.
Today, P&G is an active participant in the digital marketing sphere including social media marketing. Popular brands under the umbrella of P&G are building online presence through the execution of social media strategies. Social media marketing is a form of digital marketing where a vast audience can be targeted efficiently, made more successfully through the feeding of quality content including video production.
As technology evolves and new digital trends continue to shake the digital space, marketers are always on the lookout for possible opportunities. Today, content marketing through social media is taking it to the next level. And more to that, people are wiser when it comes to marketing materials that pops on their screens. Thus, it is only necessary that marketers prioritize quality content marketing, the rise of video marketing and the effectiveness of email marketing on top of their social media presence.