Spending just a little bit of time online will show you one thing – video marketing is becoming increasingly popular. Sites across the Internet will open with a video advertisement on the sidebar, which may cause you to wonder whether or not banner display advertising is on its way out. While video is becoming quite popular, it is by no means the end all for modern advertising. Here’s what you need to know…
Consider the Cost of Video
Video advertising seems flashy and modern, and it can be effective. In fact, several studies have shown that video can gather a higher click through rate (CTR) than other forms of display advertising. However, this form of advertising is only effective if it is done well. It will only work for you if you have the budget and skills to create quality, targeted videos.
If you do not have in-house video production capabilities, then you will need to spend money to hire someone who can do it for you. Quality video production services are able to charge a premium price for their services. This cost is something many businesses don’t have in their advertising budgets. More importantly than video production is – of course – your message. You can make the coolest looking video but if your message if so off target that your audience does not understand it, or worse yet, won’t remember it when they need your product or service, than you have lost valuable time and money. So, if you do take the video route, spend some time and effort writing a script.
Can Banner Advertising Be More Cost Effective?
The fact is that banner display advertising is a more cost effective solution for most businesses. Yes, video might bring clicks, so it’s worth considering if you have the ability to do it in-house, but the cost of producing a quality video with outside services may quickly overshadow any benefit you receive from these additional clicks. Also, banner ads can be seen on almost every computer and every website, so you are getting your message to more people. These benefits point to the reason that banner display advertising is the best option for many businesses, particularly when advertising budgets are tight.
Banner advertising is far from dead. Yes, video may be the newly popular medium, but you need to ensure that you are making the most out of your advertising dollars. For many companies, this means a renewed focus on banner ads, rather than a jump to video advertising.