According to eMarketer, digital video spend for 2017 sat at $13.23b with an estimated increase to $22.18b by 2022. Video advertisement budgets have been on the rise for more than a decade now, and more than ever, advertisers and agencies are looking to get more bang for their bucks. How do advertisers define success when it comes to their video campaigns, and how can you help achieve this?
To understand how to add value to your video advertising strategy, one needs to grasp what various metrics advertisers are particularly interested in when they market their video campaigns. Below are the main metrics that determine the success of their campaigns:
The industry standard for viewability supported by the Interactive Advertising Bureau (IAB) and the Media Ratings Council (MRC) is that 50% of the player pixels must be in view for at least 2 seconds.
A completion is recorded when a video ad plays through its entire duration to completion.
View Through Rate
The percentage of all video ads that play through their entire duration to completion. Also known as Completion Rate and Video Completion Rate (VCR).
Click Through Rate
The percentage of all video ads that play divided among how many clicks were made to the creative.
This definition governs the initiation of any “partial play” metrics, such as quartile percentages (25%, 50%, 75%), most commonly tracked as first quartile (the video played for at least 25% of the total duration), midpoint (the video played for 50% of the total duration), and third quartile (the video played for at least 75% of the duration.
These metrics have become increasingly important to advertisers when they decide which publications to allocate their media spend. Advertisers traffic more campaigns through Publishers they trust to meet their video KPI’s. How can you improve these metrics?
Faster page loading
Ensure your webpage loads quickly. Page loading speed is essential, not only for user experience but it ensures your video player renders quickly before the user decides to move away from the page. This is particularly important if you’re running outstream video placements.
Improve your Ad Formats
Think about formats that will increase the amount of time the video will stay in view of the user. A sticky or floating format works particularly well here as the video will stay in view even if the user scrolls past ensuring your completion rates are much higher. An example of it in action here – Blue Billywig Floating Player
Call to Action (CTA)
Having a clear Call to Action within the creative will entice the user to click through. For outstream, this can be quite difficult as the user doesn’t need to stick around to consume any content afterward. Having an end screen image with more information on the advertisement here can help. Here is a demo of a catchy end screen companion image being served.
Engage the user
By simply adding a button or a clear call to action, the video becomes much more engaging and can entice the user to click. You can add animations which can also pulse to draw the viewers’ attention. Have a look at the Interactive Advertising Studio where you can create simple CTA’s to compliment an existing video.
According to a study from Magna, a media strategy group of IPG Media Lab, Interactive video ads drive a 47% increase in time spent with a marketing messaged in comparison to a linear video ad. Interactive video engagement is 9x more likely to influence purchase intent than that of a passively viewed ad.
By offering advertisers an alternative to linear video advertisements, you can provide options within their video that will further engage the user. The Interactive Ad’s Studio introduces pre-set template designs such as the CTA, The Chooser, and The Carousel. In addition to the templates, the interactive studio can be used to create personalised videos, newsletter sign-ups, video in video, app conversion and much more leaving it up to the imagination. You can browse the various options here.