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IAB Australia has released new research that finds that brand building is one of the key drivers of the rapidly growing digital video market.
The 2022 IAB Australian Video State of the Nation Report also found that 74% of shoppers are continuing to invest or increase their investment in digital video ad formats as a way of increasing the reach of their TV campaigns.
According to the IAB Online Advertising Spending Report produced by PWC, Australian advertisers spent around $2.9 billion on digital video advertising in 2021, a 48% increase over the previous year, a growth rate not seen since 2016.
As well as an overall trend toward increased investment, the report found that the breadth of video ad formats and environments being adopted by shoppers is expanding, with more than half of respondents using the eleven most popular formats.
The report said agencies are expanding their measurement toolkits and moving towards sustainable measurement techniques.
These include the increased use of market mix modeling which has increased significantly since the last survey (32% to 47%) and the Brand Lift study.
The use of multi-touch attribution modeling has decreased due to increasing challenges to the accuracy of this technology by the reduction of signals, including third party cookies.
Despite these advances, the report found that the number of marketers making the move to people-based marketing remained unchanged at 36% since 2021, despite the lack of planning, activating and measuring interactions across media. is enabled when third party cookies are not available for a long time. Will be used.
Cross screen measurement for both media planning and campaign delivery was recognized as a major issue challenging the industry.
In Australia the launch of the IAB-backed Ipsos iris content rating, which will measure video audiences across computers, smartphones and tablets, and with the integration of OzTam CTV audience data, will be a significant step forward for cross-screen media planning.
Guy Le RoyCEO of IAB Australia, said: “The video landscape continues to grow and bloom. The growing number of opportunities from short form video, CTV ad formats, purchasable formats, video ads in gaming environments and more provide marketers with a smorgasbord of options .
“It is a change in tracking and privacy as well as a wider range of measurement techniques being introduced which is positive news. However, a wider range of formats and environments are being used, making for a creatively challenging purpose. Developing fit,” she said.
Creatives were identified in the report as a significant contributor to campaign success, yet 46% of agencies rarely or never develop digital video ad creatives for a specific media environment.
The 2022 IAB Australian Video State of the Nation Report was conducted by the independent research company, Hoop Research Group. Fieldwork was conducted during March and April 2022 in which 187 advertising decision makers from agencies including Trading Desk and DSP participated. The first Australian video State of the Nation report was released in 2021.
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Top Image: Guy Le Roy
Vozanation
VOZ show total TV reached 19.589m Australians. 53% of the population watched exclusively on Linear TV, 6% watched exclusively on BVOD and 16% watched a combination of both Linear TV and BVOD at 16 weeks. click for more
