How much do you prioritise video as part of your marketing armoury? If your answer is 'not much', then the latest research from marketing firm Rocket Fuel may make you think again.
According to a new study by the firm, which looked at the impact of tourism video and display ads, it's worth investing in video in order to entice travellers into booking.
Travellers who watch video ads to completion are 23 times more likely to book a hotel in the advertised destination than those who simply view display ads, the research found.
Consumers who saw only display ads were nevertheless three times more likely to book a hotel in the destination city – yet those who saw video ads were nearly 20 times more likely to book a trip, said the study.
The report also showed how consumers who were exposed to either a video or display tourism ads (of either type) booked travel to the destination city at a rate 6.2 times higher than those who had not seen ads.
Additionally, the likelihood of travellers booking a trip increased in line with the video complete rate (those who watched a video to completion). It was even higher for consumers who were exposed to display ads and also watched to completion one or more video ads.
According to the study, travellers who were exposed to tourism ads spent an average of $221 (£146) on rooms in the target cities when booking trips that included one or more weekend days. The average stay for bookings was just under two nights.
Chris Lorenzoni, director of category strategy for travel at Rocket Fuel, said video is being underutilised by travel firms which may not realise the potential of the medium.
"Billions are spent digitally in the highly competitive travel market, yet video is underutilised, mainly due to perceived costs. [The results] reinforce that an investment in programmatic video ads, in tandem with display, can drive real results," he commented.
Rocket Fuel drew its conclusions using data gathered from a tourism ad campaign with a regional convention and visitor's bureau, which was conducted from late 2014 to early 2015. Its purpose was to determine whether consumers exposed to display and video ads booked hotel rooms in the designated city advertised after exposure.