A growing number of marketers are looking to internet-based solutions when it comes to video advertising, as this is thought to offer more efficient returns than TV.

This is according to a new survey by Be On, a new global branded content firm from AOL. It revealed that even though TV is still recognized as a key awareness driver, 58 percent of respondents around the world said they could achieve better engagement and scale with consumers through the use of online video.

Enthusiasm for the technology is particularly strong in Europe, where this figure rises to 78 percent.

The study quizzed 770 industry experts from leading brands in the UK, Europe and North America and found 73 percent have seen their budget for online video content increase in the last 12 months.

Rene Rechtman, senior vice-president of AOL Networks International, said: "We know that content drives engagement and conversation online and, more than ever, we are seeing that brands want to tell their story through content."

The most important aspects when developing a digital video campaign were found to be targeting the right people and ensuring the content has sufficient reach, which were cited by 87 percent and 85 percent of respondents respectively.

Almost three-quarters of professionals (73 percent) said it will take better targeting in order to grow video investments, while 67 percent highlighted a need for better measurements.

Therefore, strong online video analytics will have an important role to play in developing an effective campaign.

Using these solutions can provide businesses with the most relevant information they need to improve decision-making and ensure that marketing activities using video are aimed at the right people and offer engaging, interesting content that encourages individuals to interact with a company.

Mr Rechtman observed: "The results of our study show that branded content has become an important part of global advertising strategies." He added it is therefore vital for firms to stand out from the crowd in order to reach their desired audience at scale around the world.