CHAT BACK: The video age

Australia loves technology. We want to be connected wherever we go, with sales of mobile devices like smartphones and tablets soaring and mobile internet usage reaching record levels.

And we love video; pound for pound Australian online video consumption is amongst the highest in the world and it is sure to keep growing with new internet TV devices like the Telstra T-Box, Boxee and IPTVs making their way into our homes.

In the last six months alone there has been a huge increase in Australia’s consumption of online video, which demonstrates the potent opportunity that it offers for brands to better connect with their audiences, if done right.

I believe that detailed, statistical knowledge of how that content is being consumed is what will really drive the widespread uptake of online video advertising, so long as it’s easy to understand and use.

Knowing how many people are watching a video, who they are, where they are, how often they’re watching and how long for is what will give advertisers the confidence to commit significant investments in online video and develop the kind of content that will both engage and stimulate viewers.

Long-form content in particular offers great opportunities for advertisers because these videos will largely be watched in the home, and not in the grazing fashion that you often get with short-form content.

This viewer approach naturally lends itself to higher levels of viewer engagement and opens the door towards longer, more targeted custom created content. Long-form video also provides flexibility and variety in the type of ad content that can be used, and when it is used.

Advertisers can position an ad wherever they want to in the video and change this on the fly, depending on real-time viewer responses. We know that today’s audience is more media-savvy than before and understands that in order to watch some content for free there may also be accompanying ads. For many viewers this isn’t seen as a hindrance and the ads can even be seen as valued content in themselves, if relevant and entertaining to the viewer.

Pay-per-view, or Paywall, content is where we’ll likely see advertising in online video really taking off since it offers the most reliable viewer audiences predisposed to particular types of content, which will often be long-form. There are clear opportunities here for targeted advertising and messaging, with publishers able to alter the price for a video by responding to viewer behaviour.

Today we’ve reached the point where the tools are available to understand how viewers act online, and online video usage has reached critical mass. Brands should now wield the power of video to express themselves and engage more deeply than ever with their audiences, before their competitors do.