How to sell more digital video advertising
Do you avoid trying to sell digital video advertising because you think it’s too hard to execute for your advertisers? You’re not alone. Video ads require more work around creative, but they have so much potential to drive traffic and increase revenue for your customers.
All your advertisers need is some advice and counsel, and we’re going to show you how to do it in a way that’s not overwhelming for anyone.
First, position the opportunity
You’d have to be living off the grid to be unaware of the proliferation of video content. Consumers spend a considerable amount of time watching videos on smart devices and connected TVs (CTV). In fact, 78% of people watch them weekly, while 55% do so daily.
Additionally, streaming services are adding more subscribers every day, and new platforms are launching regularly. Many offer a low-cost subscription that includes ads. That’s why over-the-top (OTT) consumption is continuing to rise.
Video is a preferred method for learning
Video is a different medium than a display ad or radio spot. It’s visual and requires multiple senses, which also helps those who view it retain the information. People watch video content for entertainment purposes and to learn. They also prefer it as a way to discover new products. For example, 72% of customers would prefer to learn about a product or service via video.
Video marketing has strong ROI
According to a recent State of Video Marketing survey, 87% of companies that use video marketing report a positive ROI. Further, 84% said it was great for lead generation, and 93% agree that it increased user understanding of their product or service.
Video boosts local ad revenue
Video advertising is playing a pivotal role in increasing local ad revenue. BIA recently revised its forecast to include an increase, primarily due to a 16% growth in OTT. You can get your piece of this revenue with a strategic approach.
Thus, it’s clear that video ads are the right direction, but that doesn’t mean your advertisers feel comfortable. So, what’s really holding them back?
Advertisers don’t realize the targeting capabilities
Your customers likely see video ads all the time but don’t know a platform would serve that to them. They may think there’s no context behind it.
However, that’s not the case. Whether for video advertising, video geofencing, OTT or CTV, the targeting opportunities are broad. They include demographics, location and preferences. As you know, the more targeted a campaign can be, the better the chance for engagement and conversion.
Explain this to them in simple terms. It’s really not much different than other digital ads. In fact, the targeting is even better. Once they realize these benefits around targeting, they’ll warm up to the conversation.
The next hurdle is production.
Help your advertisers overcome their fear of video production
It’s not that your advertisers don’t get that video is a viable medium. They just have someared misconceptions about producing video ads:
You might have the same thoughts, so that’s why you avoid it. How can you earnestly pitch something if you don’t have an execution plan? You’ll need to address these concerns head-on, as they are all related to the actual production of the video.
Thankfully, these are just perceptions, and you can overcome them with a plan that eliminates fears over time, complexity and costs.
Advertisers certainly don’t need to spend hours trying to do it on their own or growing frustrated with platforms that aren’t easy. They also don’t need a Hollywood budget to produce great video ads. What they do need are reliable resources for the creative.
Here are some that we recommend. Check them out briefly, if you haven’t before, prior to your conversations with advertisers.
Subscription services offer animation, stock footage and an easy-to-use platform for creating the video. You don’t need technical skills; it’s all drag-and-drop and intuitive. Some of these include:
If your advertisers want to outsource video production but stay within a tight budget, they can find animators and video producers on sites like Fiverr, Flocksy and Upwork. If they’ve never been on these sites before, you can help them navigate and select a freelancer. These sites have ratings and include portfolios. The process and pricing are very transparent, so there are no surprises.
Canned videos from manufacturers or parent companies
If your advertiser has access to video from manufacturers on items they’d like to promote or footage provided to a franchise, this is another option. They could use this and then make a few changes to highlight their location, either with a freelancer or in a subscription platform.
Once advertisers understand that the production part doesn’t have to hold them back, they’ll be more apt to try video. Once they do, and you have performance data to share with them, they’ll likely make it a regular part of their campaigns. Your advertisers could get better results, and your numbers will be stronger.
Feel confident about proposing video to your advertisers
Getting advertisers comfortable with video will require more than one conversation. You just have to keep chipping away at doubt with data and solutions. If you want to increase your knowledge on how to earn more digital video revenue, you’ll want to attend Marketron’s upcoming webinar, Video Explosion! How to Sell More in 2021. Register now to elevate your video advertising playbook.
Or, to learn more about working with Marketron to boost digital revenue, visit us here.