The days of throwing money at an array of advertising platforms are over thanks to measurement tools like Google Analytics.
Businesses big and small have data (that they can now decipher) which is deciding where their ad money will go next.
What will they be spending on?
- Acquiring more data and hiring more people to decipher it
- Technology
- Customer Experiences
Why Millennials matter…
In the next 4 years the Millennial generation will marry, have kids and start spending more money. They will pour $600 billion into economies around the world, and most of their buying decisions will occur online.
Where will the $118 billion going?
Paid Search Ads will hold at an 8% annual growth rate.
Digital Video ad placements will jump ahead with a 13% annual growth rate.
The biggest winner will be the investment in digital video production. This sector is growing at 18% a year.
Since 2014 there has been a 114% increase on spend for digital video production.
TV or Online Video?
It is projected that 72% of media buys will shift more spend to online video and away from TV.
Why does this matter to the average Small Business?
The reach and targetability of online video delivers more results with less spend.
SMB can’t typically afford TV commercials, but guess what? We CAN afford professional online video.
The next post will introduce you to some of the latest tools small businesses can use to produce high quality digital video.
SMBs & Online Video - Take Two
More to come,
Jen
