4C, a global data science and marketing technology company, released a new research study conducted by Forrester Consulting and commissioned by 4C.
The Mature Your Video Marketing to Drive Business Value thought leadership paper (TLP) delves into the growing importance of taking an insights-driven, video-centric approach to advertising and media buying as it relates to successful marketing efforts.
Some of the findings of the report include:
- Marketers should be purposeful with how they use customer and marketing insights to improve marketing efforts, specifically with media buying.
- Marketers need a clear insights strategy, which includes greater cross-channel data visibility and improved analytics capabilities.
- The majority of marketers recognise the importance of investing in better self-service advertising technology, improving cross-channel attribution, and optimising the use of video.
- Nearly 80 per cent of marketers surveyed recognises video (including TV, digital video, social video, and over-the-top (OTT) video) as an increasingly important medium.
- Mature video-marketers see better returns on advertising spend, conversion, and brand advocacy than their less mature peers.
According to the study, 75 per cent of marketers agrees that video is evolving from a mass-reach medium to one that enables targeted reach to more precise audiences. Accordingly, 77 per cent state that providing consumers with more targeted video content is a very important marketing initiative for their organisation. And 70 per cent of marketers agrees that effective use of video can boost business performance in other channels.
However, marketers face distinct challenges when it comes to being insights driven by cross-channel video marketing. Fifty-nine per cent of marketers struggles with marketing and audience data stuck in silos. Sixty-six per cent aren’t flexible enough with creative or budget to quickly adjust campaigns based on insights. And 65 per cent of marketers lacks centralised technology to deploy campaigns across multiple channels.
Ultimately, the study recommends that marketers evolve their approach by diagnosing their current state, planning for how people consume media, and benchmarking budgets. Marketers who take an insights-driven, cross-channel, and video-centric approach see positive business outcomes from their advertising.
“Success for brands is dependent on the ability to understand customers across every touchpoint and immediately activate insights through holistic marketing and targeted media,” said Aaron Goldman, Chief Marketing Officer of 4C. “We think this research shows that there are challenges that need to be addressed for marketers to be more insights-driven, which can be alleviated through deeper investments in self-service, cross-channel video advertising platforms.”
To see the details of this report, click here.