People are watching more digital video than ever, with no signs of slowing down. The prevalence of digital video allows people to choose what they want to watch and, with the proliferation of available devices, how they want to watch it. This provides an incredible opportunity for marketers.
There are obstacles, however, to getting the most out of digital video’s marketing potential. That’s what the Digital BrainFest 2016 Monetizing Digital Video: A Master Class session, moderated by our own Peyton Marcus, explored. Those challenges include addressability, device proliferation, ad blocking, and more. Here are key takeaways from the panel discussion.
Leverage Data as Part of a Holistic Video Strategy
Data is what one panelist called a “strategic weapon” to maximizing digital video’s potential. Although using data to optimize content quickly is difficult, it is also extremely important. So many new targeting opportunites mean that generating enough new video content could become a struggle, so knowing what’s effective is key. Another challenge many companies face? The tech tax, though data management platforms (DMPs) help to solve this problem through data partnerships, explained the panel.
All of this focus on the digital realm is not to say that linear video has faded from the picture. With the convergence of convergence of linear and digital video sales, however, there is more growth in the digital realm. Device proliferation has opened up the floor for greater opportunities for marketers. While acknowledging the importance of all this proliferation, the panel stressed that traditional TV has to be considered first, then translated for digital mediums.
Addressability, another challenge, includes both linear and digital video – though differently. One panelist noted that addressable inventory represents “1-2%, tops” of what is available. Figuring out how to optimize this audience is turning into a yield and management problem for publishers.
Another problem affecting digital video content is ad blocking. The driving factor behind this is a bad user experience – think of all the pop-up ads displayed on websites that can drive people crazy. Focusing on better user experience can help to diminish the impact of ad blocks on the success of content.
One key piece of advice from our panel of experts: with so much change and so many challenges, publishers need to step back and think about a holistic strategy for digital video.
Check the Digital BrainFest 2016 Highlights page for additional recaps, videos and takeaways from this year’s event.
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