Even though the press suggests banks are making big money,…
Last November, my colleague Alicia wrote about personalized video marketing and that Relevance is Key. Permit me to expand a bit on this topic. More than two-thirds (68%) of marketing and agency executives in the US expect increases to their digital video ad budgets over the next 12 months, a new survey from the Interactive Advertising Bureau (IAB) has just revealed. This is happening for exactly the reasons Alicia cited in her blog: The best engagement metrics we look at are derived from video engagement.
The use of video is a counterpart to what the news media have discovered. On the same day that the IAB reported its news about the rise in video adspend, Digiday had this report on how The Wall Street Journal and The New York Times are doing it: “The Journal has about 40 full-time people dedicated to video and produces about 30 to 40 videos a day. The Journal has been getting about 6 million monthly video views on site over the past year, according to comScore (which doesn’t measure mobile video yet). But it trails archrival The New York Times, which has 75 full-time video staff and 18 million monthly video views by the end of 2014, up from 11 million in the beginning of the year.” These media then use YouTube, Facebook and the like to increase the distribution of these videos (never more than 3 minutes long) and pull viewers/readers back to their sites.
Having been doing this now for about a year at UMarketing for our clients on the customer engagement side — CRM if you will — our clients have asked us to use this video engagement on the acquisition side. Where this gets particularly relevant is in tailoring product offerings, offers and messaging for businesses (B2B) in vertical markets, such as Healthcare and Retail. Again, as Alicia argued, relevance to the customer is key.
So we can personalize video messages for relevance and we can use the best medium for engagement to get the results we want. Where does this lead? In my view, we are at the dawn of personalized branding. Using data, we will endeavor to make our acquisition promotion as relevant, personal and engaging as possible; once we have a customer we will use all the technology and savvy we can muster to have that customer enjoy a personal relationship with the brand. It’s an exciting time for the science, art and craft of commercial persuasion.