Brand marketers are utilizing video assets as a part of their content strategy, but new research suggests that they are still only on par with their expectations.
Innovid recently released a new report titled, “Where are Brand Marketers Taking Their Video Strategy in 2018?” Statistics showed that the majority of marketers (55 percent) classified themselves as average for their industry in terms of how their video assets are currently managed to produce a holistic view of their activities. Twenty percent claimed that they are doing the bare minimum relative to what they should be doing.
Most respondents (41 percent) said that they are on par with their peers in regards to how customer data is being used to make video assets as effective as possible.
“Many marketers seem to be coming down hard on their own video marketing efforts, but it is also clear that there is so much untapped potential and optimism about video marketing and its impact on consumers to be harnessed in the year to come,” said Beth-Ann Eason, president of Innovid.
Most marketers are turning to third parties or their agency in some capacity to maximize the impact of video. Roughly 35 percent said they allow their agency to handle/manage all issues relating to video deployment.
Video Content Yields ROI for Marketers in 2017
Despite its challenges, video has already shown a large amount of ROI for marketers in 2017, according to previous research. More importantly, marketers have developed advanced metrics for measuring its effectiveness.
According to the “State of Video Marketing 2017” report from Vidyard and Demand Metric, 44 percent of marketers have improved their video marketing ROI this year. About 71 percent are utilizing advanced metrics, while 22 percent are using intermediate metrics.
“The use of advanced metrics is a prerequisite to achieving the greatest impact and highest ROI from video marketing efforts,” wrote the authors of the report.