If video on TV is so much better for capturing attention than online advertising, it would stand to reason that video is the best method for advertising online. With online video advertising in its infancy, the findings by a leading market research firm The Kelsey Group, while startling, is not surprising.
Smallbiztechnology.com just published an interview on September 9, 2008 by Assistant Editor Laura Leites with Keith Wiley, Senior Manager, Corporate Communications at Spot Runner. Wiley stated that “The Kelsey Group, recently released a study indicating that the local online video market will see an increase in growth from $10.9 million in 2007 to $1.5 billion in 2012, a compound annual growth rate of 167.8 percent. At Spot Runner, we’re seeing particularly strong growth among restaurants, jewelers, law firms and professional services companies.”
Why is video better? Movement captures attention (I’m just surprised that they don’t have dancers on IRS tax audit commercials yet, besides the one I always see is so depressing I change the channel); and it’s just easier to watch, than read.