Harness The Power of Digital Video Advertising!
Most community banks have never been able to justify the cost of spot television because of the inability to target their messages to just their bank’s footprint. In fact, according to The Financial Brand only 10% of community banks have ever used spot television in their local advertising and marketing programs.
The fragmentation of broadcast and cable television has been accelerating over the past several years spawned by cable-cord cutters/nevers and their desire to watch what they want when they want. Streaming internet video services (Amazon, Netflix, Hulu, Sling & many more) have continued to fragment television viewership and OTT (Over-The-Top Digital TV) is growing rapidly.
Programmatic digital media is powerful and a necessary weapon for local community banks to employ in today’s local media mixes. One of the most misunderstood parts of this media vehicle is digital video media buys. These media buys can be geographically, contextually and demographically targeted with great precision and are very affordable, even on community bank size marketing budgets.
Three Types of Digital Video Ads Available:
- Pre-roll video ads are shown to the user before video content;
- Mid-roll ads are inserted in the middle of video content;
- Post-roll ads are aired at the end of video content
The most common placement for video ads used for these type of media buys are executed on websites:
- Network broadcast and cable TV,
- Local TV and radio stations,
- Local newspaper websites and;
- A host of special interest and content websites
Digital Video Commercials Provide Effectiveness Analytics
Unlike broadcast or cable spot TV or OTT TV commercials, these programmatic digital video ads allow for a high degree of analytic analysis and evaluation of their effectiveness. These locally targeted commercials allow:
- Media buys that are impression based with highly targeted placements,
- Tracking of click-throughs to a bank’s website or landing page,
- Measurement of engagement and interactions with the video,
- Each view of that commercial is measured on the amount of that commercial that was completed
Digital Video Commercials Don’t Have To Be Expensive To Be Effective
Changes in technology have made the production of these type of digital video commercials inexpensive. There are number different production formats that can be used and creating these short videos has never been easier.
However, if the client has already produced videos, they can be easily edited to accommodate the type of digital video media buy being placed.
The most popular digital video format being employed in these digital media buys is Pre-Roll video. The typical length of these commercials is 10, 15 and 30 seconds.
According to e-Marketer; “Making shorter ads should be part of the advertiser’s arsenal, and front-loading the brand messages in those ads will improve the chances of grabbing the user’s attention in those critical few seconds.”
Leap Marketing’s experience with Pre-Roll video confirms e-Marketer’s observation. In fact, we have seen 100% viewed completion rates for 10 and 15 second digital videos running in the 70% to 85% range for our community bank clients.
Example of Community Bank Digital Video
Leap has been serving community banks for many years and have specialized in helping institutions with $100 million to $3 billion dollars in assets tackle virtually every facet of the business.
We are navigating and helping our clients thrive in the ever changing media environment and would love to put our expertise to work for you.
You can learn more about Digital Video and Leap Marketing’s community bank marketing expertise by sending us an email or giving John Verre or Laura Bonesteel a call at 262-436-4080.