It’s advertising but not as you know it – Is your brand ready for the online branded content revolution?
Global digital spending is on the increase, this is not news to anyone. More people are interacting with brands online, searching for products, viewing videos, and consuming advertising on their mobile devices. If you think your marketing department has it all covered, that you’re in there, that you’re up to date – think again!
According to PWC’s 14th annual update on the online global entertainment and media outlook - ‘growth in the global entertainment and media market will be driven by digital over the next five years with revenues increasing at a CAGR of 11.9%. By 2017, digital revenues (including spending on digital content, digital advertising spending and spending on Internet access) will account for 47% of the total, up from 35% in 2012’.
This growth in digital spending will not be funnelled purely into banner advertising and pre-roll formats anymore. Audiences are demanding more from brands, and advertisers need to work a lot harder to gain their attention and provide ‘useful advertising’. Digital content output needs to engage viewers, it needs to offer value, and it needs to do it pretty quickly.
What is branded content?
Branded content is not subliminal advertising, it’s not putting your logo everywhere, and it’s not paying a celebrity to tweet about your brand. Content is the part of the equation you need to be focussed on if you intend to keep up with digital marketing trends, and take advantage of the potential revenue it’s predicted to return from users engaging more, especially on mobile devices.
To be effective, and competitive, branded content must offer the viewer value. It sounds simple enough in principle; give the consumer some form of entertainment or information that’s vaguely associated with your brand and they’ll be lined up around the broadband block to purchase your products.
Well, we all know it’s not going to be that easy; caring about your customer’s needs and wants, putting some budget behind getting to know them and what makes them tick, finding out what’s important to them, then creating quality content that delivers those things – that’s the future of digital branded content. That’s your challenge! Oh and I did I mention you have to wrap that content up quickly, we’ve got places to go and people to see and other tabs open – seriously our attention span is diminishing to that of a goldfish. http://www.statisticbrain.com/attention-span-statistics/.
So, if you haven’t already started thinking about a branded content strategy, start now. Look at brands like ‘Virgin’ who created http://virginmobilefeed.com/ and Vanguard http://www.youtube.com/vanguard that utilise their YouTube Channel to give practical advice.
Think about what content your customers are interested in and how you can either create that content yourself or associate with premium publishers already producing it. In our next Advertiser blog we delve further into exactly how this branded content is currently being created and delivered strategically and how brands can use digital content to improve their position in the market.