The concept of advertisement has evolved over the years giving birth to digital marketing and a novel approach for brands and businesses. Previously, small-scale and prominent businesses depended on traditional marketing platforms such as printed media, visual aids, and billboards across the city. However, with the advent of technology and specifically the Internet in the 1990s, there was a momentous alteration from traditional marketing ways to state-of-the-art and unbelievable marketing technology. Nowadays, advertisement and brand promotion are performed mainly by digital channels, blog posts, social media tools through PR agencies responsible for promoting through available platforms on the internet. The audience is now exposed to the marketing messages through magazines, newspapers, social media, and official websites. The audience has found a more profound way of watching favorite content on different devices. This automatically means that the advertisers and promoters need to broaden their horizons and think outside the box for nontraditional and unconventional ways of advertising.
What Does OLV mean in advertising?
OLV means Online Video and represents an engaging online video ad format commonly used for broad brand awareness campaigns. In multichannel marketing, OLV ads appear in both in-stream and out-stream formats.
Online video ads can be:
- Video discovery ads
- Skippable in-stream ads
- Non-skippable in-stream ads
- Bumper ads
- Masthead ads
- Outstream ads
Television and digital content are now conveniently available on mobile phones, tablets, and smartphones. As a result, viewers have the opportunity to lay back and enjoy the popular range. This is relatively bad news for advertisers as the content-producing platforms have increased, but the resources and ways to reach those platforms need to be reconstructed. In addition, multiple platforms have become fragmented and time-shifted audiences; therefore, the advertisers need to ensure that their content is getting suitable viewers at that right now. This novel concept is referred to as addressable TV advertising, where publicists and advertisers show different ads to different households while enjoying the same content. Addressable advertising has evolved, and modified advertising as developers can move beyond the conventional way of marketing. The concept behind the addressable advertisement is to attain maximum viewership, mainly focused on the demographics, interests, and habits. Addressable advertising is therefore user-oriented, explicitly targeting the audience.
What advantages do video ads have over traditional banner ads?
Video ads have advantages over traditional banner ads because of large video audiences. Big brands have the opportunity to promote and sell products using video ads and get much better performance than traditional banner promotion because they can explain better all advantages of their products in video format.
Online Video Advertising and Over the Top are two significant initiatives for businesses to launch brand-related advertisements to reach the target audiences with interesting creative content. Content marketers are welcoming interesting and captivating techniques to build their client base. Small companies and large-scale brands have to realize the importance of accumulating mass consumers from all parts of the world. To achieve this, an integrated, multi-channel, and heterogeneous marketing technique needs to be initiated. This includes using traditional methods such as television, radio, and a mix of nontraditional resources such as social media content, public relations, and search and display to achieve the purpose. OLV is a well-known and integral highlight of the multi-channel approach used by marketers. Multinational implants have executed OLV strategy, whereas small businesses are following suit.
Through this approach, marketers can insert privatized advertisements within TV shows even if they are being watched in high demand rather than live programs. Some of the cable companies have especially reserved slots for advertisers to be purchased.
- It leaves a more substantial impact.
Visual aids are considered more influential than audio and written content. Consequently, most advertising agencies use visual content to gather the interest of the viewers. People are interested in watching exciting content there, for most of the video segments are filled with advertisements. However, the advertisement video ads should be kept concise and to the point as well as attractive. Advertisers need to express and convince the viewers regarding their product by showing them that the product or facility is better than the rest.
- Establish a virtual connection
More than 80% of the Internet traffic is composed of online videos. Everything is done online and through visual formats. Sports, entertainment, weather, and news channels are all enjoyed visually rather than written. Incorporating exciting and captivating advertisement content that is personal and emotionally associated with the viewers creates a long-lasting effect on the audience.
- Significant influence
Maintaining an upright influence is probably one of the essential purposes of advertisement. This inspiration can be measured by analyzing and evaluating the response from the viewers. Some people who see the ad are most likely to click on it and visit the official website. Marketers can also evaluate influence by checking the conversions to validate the result.
- A wider reach
Typically, the traditional ways of advertisement are only limited to a small group of people of a particular demographic. This contrasts with the OLV campaign, which covers a broad category of people of multiple demographics, each group, hobbies, and locations. In addition, with the help of a campaign, individuals who have already visited the official website can be re-targeted along with the inclusion of current owners and online shoppers of the service.
Many big businesses are still using the traditional advertisement process as their primary means of spreading news. However, it is essential to understand the online video approach and the addressable TV to increase the customer base and convince them about the product. With the help of addressable TV, advertisers can evaluate their targeting capabilities as well as analyze ROI. This approach targets parameters such as household income, race, ethnicity, and the presence of family members, children, and other determinants that regulate the type of advertisement content. This concise and precise targeting can be purchased at a premium price, but it ensures the maximum reach to the people sitting in front of the TV. Instead of general demographics, this approach focuses on specific factors.
The right product, business, and service can be targeted to the right demographics in this digital age. For example, if you want to advertise your product entirely for dual income with no kids, Hulu and YouTube are the appropriate options. Most of these brands also have sets of analytical data to evaluate, comprehend and analyze that your content reaches their target audience and money is not being wasted. This information also assists in providing tips and guidelines to re-shape creative content. Starting from browsing history to credit profiles, 0LV is consumer-oriented, ensuring that the content delivers suitable television screens to users.
OLV ads are proficient. These ads can be clicked on one thing leads to another, so the conversion process kicks off. OLV connects the dots, and therefore more information and insight related to the contact is revealed to the users.
OLV is expected to take the lead in the digital marketing arena for the next ten years. However, currently, the adoption and execution of OLV are still slow by the advertisers. As a result, most TV marketers are inclined towards spending their budget with the traditional TV approach.