There are three reasons why video advertising is becoming so popular. The first is straightforward: people are watching more video. Secondly, brand advertisers are going where consumers' eyeballs are. And thirdly, analytical tools are widely available and cost-effective.
There's no question where each ad dollar goes when investing in targeted video advertising because you can see exactly who viewed the video, when and what they did immediately before and after clicking the play button. That's something traditional advertising mediums simply can't offer.
If used properly, analytical tools are extremely powerful and persuasive. My clients appreciate that I'm able to observe and report back to them real-time results in no time at all.
Metrics for video advertising can be as simple as impressions,clicks and views, or as detailed as tracking the actions and subsequent conversions of video ad viewers across multiple screens. It depends, however, on what a brand's main goal is when using video advertising.
Some businesses are interested in overall brand awareness, while others are pushing for a specific action - whether it be clicking through to get a quote or purchase a product or service. A properly optimized campaign can positively affect all levels of the sales cycle resulting in multiple benefits for a business not only immediately, but also long-term.
Impressions and clicks are two metrics most used among agency and brands when it comes to video ads, according to an 2013 study by BrandAds. But simply because a set of metrics are more used than others doesn't mean they're better. Depending on where your video ad campaigns are being run, other measurements should also be considered on an ongoing basis. This includes unique click-through rate (CTR), subsequent website clicks, social media engagement and other desired actions surrounding the video content.
Keep in mind that customers are busy and won't necessarily take immediate action following a video. This doesn't mean that your ads aren't working. In fact, if your video is effective, there's a good chance they will return to your business, online or in person, on their own time. This is where the benefits of brand lift comes into play. It's about going beyond impressions and clicks and looking at the overall impact of your campaign when it comes to brand awareness, recall and brand interest.
It's for this very reason that I recommend tracking overall traffic increases, whether it be website hits, organic search volume, phone calls or foot-traffic, as well as asking new or current customers where they are exposed to your brand and how they perceive your business via the way of an ongoing survey, for example.
Integrating video ad measurement is essential. The 'set it and forget' attitude when it comes to programming digital campaigns will not lend itself to great success. It has to be intentional, regularly monitored and observed to gain additional insight.
The key is to use metrics that are important for the specific campaign, observe trends, and then also uncover additional information that can lend itself to future strategy tweaks and the ongoing evolution of an video advertising approach.
Lisa Ostrikoff is a TV journalist and anchor-turned-creator of BizBOXTV, a Canadian online video production, advertising and social media marketing agency. You can find her on Twitter and Facebook.
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