According to a recent eMarketer study, online video ad spending is expected to double its share from 7.9 percent in 2012 to 15 percent by 2016. What's more, Google's blog reports that at least 50 percent of online ad campaigns will include video by 2015.
If you're a small business, this is good news, as Google continues to cater to smaller companies looking to compete with big-box stores. Its latest iteration expands upon its predictions of video spend - AdWords for Video.
While Google's AdWords program created a platform for your small business to post ads on Google's search results page, AdWords for Video expands those capabilities to YouTube, Fast Company explains.
Like the regular AdWords, AdWords for Video is a self-service product, allowing your company to bid on keywords and categories to have video ads appear pre-roll to YouTube viewers. It should be noted that around 3 billion YouTube videos get viewed every day, according to the news source, making this a potentially revenue-altering venture for your firm.
"The new AdWords for Video product introduces a level of standardization with Google's other services that will make it easier to buy pre-roll," Fast Company notes.
For instance, Google's blog points to one example of a small business that utilized YouTube to reap massive results. Orabrush, a tongue-cleaning product, was having difficulties earning sales via traditional marketing routes, such as infomercials and door-to-door sales.
However, once the company started marketing the tongue cleaners on YouTube (with a $500 budget), the "quirky, commercial-style" video garnered 16 million views, going viral and catapulting Orabrush into profitability while creating brand recognition in the process.
Video looks to be the future, and it may be one of the best ways to get noticed in the coming years. There are also new forms of YouTube video marketing on the horizon, where ads give users the option to "choose their destination" rather than having them simply view a start-to-finish video.
You'll also be able to place ads on smartphones and tablets, creating a potentially profitable mobile marketing opportunity. YouTube product manager Baljeet Singh explains to Fast Company that expansion to other platforms such as TVs and gaming systems may also be available in the future.
YouTube's "TrueView" system will be in effect should your company choose to use AdWords for Video, meaning you only get charged if users actually watch the video, rather than the traditional method of charging per impression.