By Business Wire, October 16, 2013, 01:20:00 PM EDT
Study Concludes Video is an Important Resource at Every Stage
NEW YORK--(BUSINESS WIRE)--
Tremor Video, Inc. (NYSE:TRMR), a leading provider of technology-driven
video advertising solutions, today released the findings of a recent
research study conducted to explore the role of online video advertising
in the shopping process across three verticals, with the first
installment focusing on automotive. As consumers' behaviors change, they
are doing more research and have become smarter, savvier, and much more
informed when it comes to their purchasing decisions. This influx of
available information creates more consumer choice and a challenging
landscape for marketers.
"With the explosion of video, marketers can expand from text and image
to sight, sound and motion to bring the emotion out," said Ryan Van
Fleet, Director of Insights and Analytics at Tremor Video. "This study
aimed to understand the powerful shift occurring in the way that
consumers engage with brands through online video, especially around the
automotive shopping process."
The study, a comprehensive analysis of behavioral and attitudinal data,
was completed between May and September of 2013. The behavioral
analysis, conducted by MillwardBrown Digital, identified video viewing
patterns of potential auto shoppers within its clickstream data. The
attitudinal phase, conducted by Frank N. Magid Associates, expanded upon
the behavioral analysis with an in depth focus group, which was then
validated using a nationally representative survey of 900 adults, 18-54
years old who watch online video one or more times per week.
Among the findings:
66% of auto shoppers stated that online video was important to their
58% consumers start their digital research process directly on
manufacturers' site, and over half engage in an online research
process of 3-6 months.
Additionally, the longer the process, the more auto video is
consumed. An average shopper consumes 5 auto videos over the
course of the purchase process, 1/3 of which are video ads.
46% of auto shoppers said that video ads, across screens, were
important in their discovery phase - equal to automotive TV
commercials (45%) and the dealership experience (46%).
Video ads, across devices, ranked second compared to visiting the
dealership for forming opinions and making the final decision
Key Take-aways for marketers:
Online video's role in the marketing mix is critical.
As more automotive companies have a wider range of segments of
competing nameplates, gone are the days of going to a particular brand
for a certain segment. The concept of loyal-for-life consumers is
shrinking fast and marketers need to produce more relevant, quality
content with emotional storylines to gain consumers' attention and
keep them engaged.
Consumers use video as a resource in every stage of the shopping
process, including post-purchase. It is important for manufactures to
provide easily accessible video content to guide consumers throughout.
The full research study will be presented later today at the J.D.
Power 2013 Automotive Marketing Roundtable in Las Vegas.
About Tremor Video, Inc.
Tremor Video, Inc. is a leading provider of technology-driven video
advertising solutions enabling brand advertisers to engage consumers
across multiple internet-connected devices including computers,
smartphones, tablets and connected TVs. Our clients include some of the
largest brand advertisers and agencies in the world. These relationships
have helped us create a robust online video ecosystem that includes more
than 500 premium websites and mobile applications, over 200 of which
partner with us on an exclusive basis. Our proprietary technology,
VideoHub, analyzes in-stream video content, detects viewer and system
attributes, and leverages our large repository of stored data to
optimize video ad campaigns for brand-centric metrics. Through our VHA
enterprise solution, VideoHub also provides advertisers and agencies
with advanced analytics and measurement tools enabling them to
understand why, when and where viewers engage with their video ads.
Tremor Video is based in New York and has offices in Atlanta, Boston,
Chicago, Dallas, Detroit, Los Angeles, and San Francisco, with
international offices in London, Singapore, and Toronto. For more
information, visit tremorvideo.com and find Tremor Video on Twitter,
Facebook and LinkedIn.
This press release contains forward-looking statements that involve
risks, uncertainties, assumptions and other factors that could cause
actual results and the timing of certain events to differ materially
from those set forth in or implied by such forward-looking statements.
All statements other than statements of historical fact are
forward-looking statements, including, but not limited to, any
statements concerning the findings of any research study or any insights
or recommendations drawn from such findings. Important factors that
could cause actual results to differ materially include: the impact of
technological development and competition; market acceptance of Tremor
Video's products or services; design, manufacturing or software defects;
changes in client and consumer preferences or demands; changes in
industry standards and interfaces; global economic conditions; as well
as other factors detailed from time to time in the reports Tremor Video
files with the Securities and Exchange Commission. Forward-looking
statements are not guarantees of future performance or events and
investors are cautioned not to place undue reliance on any
forward-looking statement. Furthermore, forward-looking statements speak
only as of the date on which they are made, and, except as required by
law, Tremor Video disclaims any obligation to update these
forward-looking statements to reflect future events or circumstances.
Source: Tremor Video, Inc.