Collective storytelling is a deep-rooted tradition. Think about tribal people sitting around the bonfire, sharing stories about a successful hunting expedition, the reunion of two families, the birth of a child, the exploration of new lands. Storytelling is a way to pass on knowledge, to entertain and to teach. A great story resonates with the audience and fuels natural curiosity.
Among advertising formats, video is becoming more and more successful. Stories around the fire have evolved into video commercials that are loved and shared by millions of people worldwide. Consumers prefer video formats to standard banner ads because video appeals to both visual and audience senses and provokes a strong emotional response.
What Is Video Advertising?
Using video to connect with a prospect is so much more than a cold call. It humanizes the selling process. — Jill Rowley, social selling evangelist
Video advertising is gaining in popularity with 61 percent of businesses incorporating video storytelling into their general marketing strategy in 2016. This year, the number of brands using videos to promote awareness and increase customer loyalty is growing. Video ads can be spotted all over the web and across social networks, enriching communication among consumers and brands by allowing commenting and social sharing.
Programmatic advertising made it possible to deliver highly relevant video messages to targeted audiences. With the rapid development of the digital advertising, video ads are becoming less intrusive, complementing the user experience and giving viewers options to discover ads on their digital journey. The most common way to buy and sell video ads is through digital advertising platforms. Video supply-side platform (SSP) is the newest member of the programmatic family.
What Is Video SSP?
Video SSP can be an expansion of the existing supply-side platform or an independent video platform that is dedicated solely to the publisher’s video inventory. Video SSPs allow publishers to customize display, native, mobile and out-stream video ads through a single user interface. Because video SSPs interface multiple demand-side platforms, ad networks, agency trading desks (ATDs) and ad exchanges, they allow publishers to stay connected with a range of demand sources and offer video impressions to as many buyers as possible.
The main goal of the video SSP is to streamline the process of buying and selling of video ads. Video SSPs are integrated with the video ad servers, creating a unique video advertising ecosystem where advertisers find it easier to connect with the right audiences and expand their reach, and publishers are able to maximize the value of their video inventory and generate more yield.
Video SSPs work just like any other supply-side platforms, offering video publishers a range of options for programmatic sales through open real-time bidding (RTB) auctions, programmatic direct, private marketplaces and preferred deals (more information about efffective ways of inventory monetization you can find here). However, pure video inventory is still scarce, making it rare and expensive, which is the reason why premium video publishers look for the first-tier advertisers to ensure scale and guarantee 100% percent fill rates. Video SSPs address this issue, effectively connecting active video buyers with global or local publishers programmatically.
Currently, the vast majority of video inventory is transacted via private marketplaces and premium or direct sales, which require a publisher and a media buyer to negotiate prices beforehand or establish exclusive partnerships. Nonetheless, with the technological improvements and saturation of the video advertising environment, there is an increasing number of video impressions available for open biddable auctions.
A good video SSP must:
- Be connected to a multitude of trusted demand partners;
- Provide tools for processing video of different sizes, resolutions, bitrates, stream-rates, file types and formats;
- Ensure minimized load time and reduced latency;
- Have a powerful conversion capability to serve videos compliant to all relevant players, cross-device and across borders; Handle in-stream and out-stream video inventory;
- Contain header-bidding solutions for publishers;
- Be a cross-screen platform and mediate video ads for the desktop, mobile web, tablets, apps and connected TV;
- Offer a sufficient level of customer support for troubleshooting and consulting.
Afterword for Digital Publishers
If you are a digital publisher or an app developer looking for better ways to monetize your inventory, video ads are a win-win strategy. By selling video ads, publishers enjoy premium connections, competitive pricing and boosted sales performance. Video ads receive the highest click-through-rates (1.84 percent) compared to other digital formats, making video ads appealing to media buyers as well.
Choose SmartyAds video SSP to become an exclusive video publisher, and join the network of the premium demand partners from around the world. The future of marketing is about the video, so be the publisher to shape that reality.