In a post on the NASA.gov website, P&G revealed that it was looking for new ways to produce video. “As content needs become more diverse, the model for advertising production also needs to evolve,” P&G said. The new content needs to be channel agnostic and not always produced with TV in mind. Furthermore, they must have an increasingly high return on investment. The good news for brands in need of content is that video production is not as capital-intensive as it once was.
L2’s Personal Care briefing in August identified several similar trends in the CPG industry. Facebook’s Daily reach is in fact becoming on par with network television, and even surpassing it among 18 to 24-year-olds.
Accordingly, brands have been producing videos for non-traditional spots. For example, 30% of brands in L2’s upcoming Personal Care study have placed product videos on their Amazon listings and 26% have done so on their Walmart page. But production budgets remain small. On average, CPG brands spend 5.9% of their digital marketing budgets on video production.
For more information on how CPG brands are increasing their visibility online, stay tuned for the Digital IQ Index: Personal Care.