Tag: video ads

How YouTube Is Helping Marketers Capitalize on Online Video

COVID-19 has fast-forwarded several prominent consumer behavior trends in the marketing space — a major one centering around online shopping where tech giants are shifting their investment dollars in the hopes of propelling their growth on the other side.

Earlier this spring Pinterest introduced new ways to shop from pins, from pin boards, and directly from search results. More recently, Facebook and Instagram rolled out “Shops,” essentially converting business profiles into online storefronts and tested shopping tags in captions. Separately, Snapchat unveiled an expansion of dynamic ads for e-commerce retailers in June.

Building a stronger e-commerce presence through video ads

Looking ahead, YouTube unveiled several updates to its platform in a push to help marketers capitalize on the growing trends of e-commerce and online video. Primarily, a new ad format called “Direct Response” will enable brands to add browsable product imagery to their videos to make them more actionable and shoppable.

“As businesses begin to reopen, they have an opportunity to use video to drive both online and offline actions on YouTube, where 70 percent of people say they bought a brand as a result of seeing it on our platform,” YouTube’s parent company Google explained in the official announcement.

As a result of using the new format in a test phase ahead of its spring 2020 campaign, Aerie, the underwear company owned by American Eagle, reported sales conversions 9x higher than that garnered by its traditional media stack. The company also reported a 25 percent higher return on ad spend compared to 2019.

To use the ad format, retailers will need to synchronize their Google Merchant Center feed to their video ads, per the announcement. Ultimately, they will also be able to place greater emphasis on certain products through an expanded call-to-action button.

A more cost-effective way to boost conversion rates

Limited marketing budgets and other key resources have put significant strains on marketers these past few months but this hasn’t kept them from seeking more simple, cost-effective ways to drive reach and convert demand. As part of the update, YouTube announced Video Action Campaigns that will automatically distribute video ads “that drive action” to the YouTube home feed, watch pages, and Google video partners, all within a single campaign.

“In the last few months, Mos saw 30 percent more purchases for their service at a third of the cost compared to their previous YouTube benchmarks,” Google stated of the startup that seeks to help students find funds for college to avoid large debts. As a newer company, it was eager to test the campaigns to gauge how quickly it could scale.

Adding transparency around a consumer’s path to purchase

Beyond building an e-commerce presence, YouTube is cognizant of the fact that in the digital age the process for tracing the exact origins of a conversion and keeping tabs on a consumer’s full path to purchase isn’t always clear. To address this, brands will be able to evaluate their efforts on YouTube directly from their Google Ads attribution reports. There are two major benefits of this including having a better understanding of how to allocate ad budgets and what new tools to consider in addition to enhanced transparency around your Google ads campaigns.

Overall, the effort is not only one to create an even playing field around emerging formats like video, but more importantly, to help marketers save valuable time to put against broader strategic initiatives such as aligning creative with the right message for a particular audience.

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Personalized Videos Boost Social Media Engagement

International corporations, small businesses, influencers and bloggers use social media to connect with their target audience. As a result, the content is developed to reach the many rather than the few, and people start tuning out the noise of these messages.

With new tools such as Dynamic Facebook Videos, LinkedIn Dynamic Ads and personalized videos, your content can rise above the fray and connect with people who want to hear what you have to say.

Personalized Content Brings Results

People love to feel special and personalized engagement meets that need. According to a study by Epsilon, 80% of consumers are more likely to make a purchase when brands offer personalized experiences. The benefits of personalization include increased conversion rates, improved customer experience, and increased visitor engagement.

Initially, personalized content was email-based and is successful if the content is relevant to the recipient and goes beyond just putting the right name in the correct place. Today a personalized experience is shifted to a consumer expectation and there are more opportunities than ever to engage your target audience on this level.

Facebook’s Dynamic Ads

Facebook’s dynamic ads allow marketers and advertiser to automatically deliver video, images, product descriptions and more to people who have viewed their pages, and based on those viewer’s profiles. This process allows marketers to target limitless audience groups and showcase the information, products or services most relevant to them. Facebook’s dynamic ads also show ads to others users who are most likely to purchase a specific product or service which helps businesses find new leads and retarget past buyers for cross-selling, up-selling, and reminder purposes. The site has also spruced up its dynamic ads with updates specifically timed to support advertises during the holiday shopping season.

While the dynamic ads are a powerful business tool, the question is will they continue to be so? A Pew Research states that 26% of polled adults have deleted the Facebook app from their phones. The study doesn’t say why the app was deleted or if the adults still access the platform on other devices, so this statistic alone isn’t helpful. Facebook still retains a daily active user base of 185 million, which is enough to keep every marketer happy.

LinkedIn Dynamic Ads

LinkedIn has allowed users the ability to use dynamic ads, but it was only available by paying their experts to design them. However, the site recently made their key templates and formats available on a self-serve basis, with similar features and tools as Facebook’s program.  Using publicly available profile information and accessed through the site’s Campaign Manager platform, it allows advertisers to use it’s A/B testing and other analytics to evaluate the effectiveness of the campaigns.

B2B advertising is highly effective on LinkedIn because the site has 61 million senior-level influences and 40 million decision makers using the site. Content marketing and other campaigns have more impact because engagement is made with the people who have the authority to make purchases and select vendors. With dynamic ads, personalized and relevant information is more likely to reach the right people.

Personalized Videos and Social Media

Videos are now accessed on nearly every social media platform, including YouTube, Facebook, Instagram, Snapchat and Twitter, and personalized marketing videos segments assure that the content has the greatest impact possible. The key to success is knowing the target audience and which platforms they prefer. Use data to segment the target audience via products and interests, which allows videos to be produced that delivers relevant and engaging content specifically to them. A truly comprehensive personalized video campaign will include different videos for each primary social media platform to boost excitement, interest, and sales. The results can increase conversions by over 50%.

Between 20016 and 2017, views of branded video content have increased 99% on YouTube and 258% on Facebook. A video Tweet is 6x more likely to be retweeted than a photo Tweet.  According to HubSpot, 78% of people watch online videos each week and 55% view online videos each day. For these reasons, videos now comprise an entire marketing and advertisement strategy for many businesses. To be meaningful and deliver the best results, the focus isn’t to reach everyone but to connect with and engage those people most likely to purchase your products and services.

Getting it Done

Both Facebook and LinkedIn allow companies to create their own dynamic ads, and there are many online video marketing courses and resources available to anyone who wants to do the work themselves. For the less tech-savvy or anyone simply too busy to manage the process themselves, there are several businesses that can help you get the job done, and have it done right, including VSM New Media, Idomoo, and VocalCom. Whichever avenue is chosen, make sure the content is consumer-centric and delivers dynamic engagement.

Bottom Line

Video advertising on social media has gone from the next best thing to the current great option, and it will only continue to grow. There is now an understanding that getting the most likes and views is not important. Connecting with those who find the content relevant is what matters because it results in conversions, which is what personalized video advertising is all about.

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Social Video Ad Revenue Is About To Explode

New analysis of ad spending and revenue in the United States shows that ad revenue from video on social media will skyrocket in the next few years, reaching over $11 billion by the year 2020.

For reference, that means ad revenue will more than double from 2017, when revenue was just $5.68 million.

This forecast comes courtesy of eMarketer, which for the first time included social media in-feed advertising in their video ad spending figures.

How the revenue breaks down

Not surprisingly, eMarketer shows that Facebook will lead all social networks in ad revenue, and it’s not even close. Of the $11.69 billion forecasted for 2020, a whopping $10.2 billion will come from Facebook.

Next is Twitter, which will tack on an additional $743 million (up from $563 million in 2017), and then Snapchat with $724 million (but they’ll take an even more impressive leap from $334 million in 2017 to get there).

The “Other” category, which excludes YouTube—a social network that is essentially all video—will add another $18 million+ as well.

How does this compare to ad revenue on TV?

The great tension and dilemma of ad spending and revenue is whether it’s better to spend your money on digital video or television. TV ad spending is still holding strong is the high-$60 billion range at the moment.

However, according to further analysis from eMarketer, the gap between digital and TV spending is expected to shrink mightily by 2022—both because digital ad spending will continue exploding and TV spending will decrease slightly. The gap will be less than $18 billion in 2022, compared to over $40 billion in 2018.

What is sparking such a change?

Obviously the popularity of social video has been on the rise for some time. But perhaps the biggest recent change in how advertisers and marketers are viewing social video and spending is that social videos are getting longer and longer.

For years, the idea that a social video had to be short—a minute long, to fit in an Instagram post, was probably best, but certainly not more than a few minutes—was paramount.

Now, however, many social media platforms are encouraging content creators to look beyond short-form videos: From Facebook Watch, to YouTube Originals, to IGTV, social media is increasingly the home of long-form, episodic, interconnected content that is the perfect home for big ad spends.

Expect social video and social video spending to continue growing together until they overtake traditional TV and TV spending entirely.

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