Over the past few years the rise of digital advertising has encouraged a short-termist approach to marketing, where the focus is delivering information to audiences at the lowest possible cost, without sufficiently considering whether it will effectively drive the required brand outcomes. Digital has accelerated the direct response market where instant performance metrics are more important than long-term strategy.
While there may be some truth on the notion that premium video is more complex and expensive than other digital advertising, it is ultimately more effective at driving brand outcomes in both the near and distant. Increasingly, premium video can now drive consumers not only through the top, but also down through the purchase funnel to deliver quantifiable outcomes with more precision targeting and messaging.
In this paper entitled ‘Demystifying Premium’, the FreeWheel Council for Premium Video Europe (FWCE), takes a deep dive into what sets premium video apart from other media and highlights why it is more accessible than the market might currently perceive.
The FWCE previously defined “premium video” as professionally-produced video content, delivered via curated user experiences, in a brand-safe context to highly engaged audiences. But what makes premium video different from other types of video content is its innate quality and key attributes:
Being regulated by the same broadcasting standards that applies to linear TV, on-demand and live premium video content is both consumer and advertiser-friendly and ultimately provides a brand-safe environment for marketers to connect with consumers.
The need for control over supply and compliance means that premium video is mostly transacted via Private Marketplaces, and often served within secured over-the-top (OTT) and video on-demand (VOD) environments.
Premium video truly delivers on time-spent-with-ad metrics because it is based on a fair value exchange where viewers are willing to watch quality ads to gain access to extremely high quality, made-for-TV content. Premium video also drives more attention, vital for consumers to engage with advertising messages.
Third party measurement models have become far more efficient and trusted, enabling the attribution of the true value of media to be realised. In premium environments buyers know who they are dealing with, where their budget is being spent and that their investment will drive positive results.
Premium video consumption is increasingly taking place on the big screen with OTT and VOD gaining more traction. The scale of viewership in these environments is now significant, and the living room environment transforms individual premium video consumption into a multi-viewer experience, which creates a shared experience and drives further attention with content and ads.
While it sometimes seems unattainable, particularly for smaller advertisers, premium video offers clear advantages and real ROI. Some studies have shown that on short- as well as long-term, the effects of advertising on quality premium video is almost twice as effective as other platforms.
As Simon Bevan, Chief Investment Officer at Havas Group explains ‘’TV delivers the largest long-term multiplier of all media types, so while advertisers may see the initial cost of premium as comparably high, they could miss out on maximising advertising-generated profit by under-investing in premium environments’’.
With far more emphasis on ROI than ever before, it is critical that advertisers ensure that their advertising is working as hard as possible. They need to thoroughly explore the attributes of those that claim to have premium supply. To help in their assessment, there are five key elements they should never compromise on, and if all the boxes cannot be ticked, the value and term “premium” should be questioned:
- A brand safe environment
- Complete transparency
- An engaging ad experience
- Trust through certified third-party verification
- Sufficient scale and reach (based on goals)
Watch a series of interviews with Phil Smith (ISBA), Anna Forbes (The Trade Desk), Etienne Bodel (Dentsu Aegis Network) and Philippe Boscher (TF1 Publicité) about their views on Premium Video
To find out more download the latest FWCE paper Demystifying Premium >>