The following is part of our Transform 2022 series, check out our blog for additional learnings from this event.
Video is growing up, and just like any coming of age story, the process can be far from linear. However, while video is becoming more complex and the opportunities are constantly evolving, the need to provide measurable business outcomes for our clients, regardless of tactic, has not changed.
Still in its infancy, platform agnostic-based video planning and buying is beginning to gain structure both on the supply-side as well as within measurement, but still has a long way to go. Many media vendor partners are tailoring their offerings to assist with both the current state and plan for the future state of video-based advertising.
Alongside this, the cost of entry within the video space is lower than ever, leading to a rush of new advertiser entries within ever-emerging new providers. The lines between social and video are also a bit blurred with platforms like Instagram and TikTok, who are doubling down on their efforts to put video at the pinnacle of content–and chase the ad revenues that will surely follow, as YouTube has already successfully done.
Within a space that is a bit like the Wild West, the video landscape requires a delicate balance of knowing where to be, what’s coming next, and how to employ smart strategies to reach and engage an audience efficiently. As the medium matures, the fragmentation will likely continue, all while momentum builds toward consolidation within the larger media conglomerates. Advertisers and agencies will leverage new technology to harness the power of video across multiple platforms, screens, and systems that will one day resemble the scale, reach, and efficiency of linear television in its heyday, but likely even bigger. Until that time, we’ll work through the evolution, creating smart targeting strategies, efficient reach, effective frequency, and solid measurement and reporting to leverage sight, sound, and motion unlike any other channel.