A performance-based strategy will help brands achieve more on YouTube through relevance. YouTube itself validated the performance-based concept when it announced that it was dropping unskippable 30-second ads.
“Media buyer and seller negotiate inventory price” is a sentence that has about as much charisma as “Dog bites man.” But for those of us in media, we all know #thestruggleisreal. Getting on the same page requires established metrics from which pricing can be developed and performance measured. Seems simple, but it is no easy task in today’s increasingly chaotic media environment.
Esteemed ad critic Bob Garfield recently recalled the days when Super Bowl commercials were kept under lock and key until their live airing. It was, as he says, THE day for advertising, and no one wanted their creative treasures leaked ahead of their big moment.
If Video Equals Sales, Then Performance-Based Video Equals MORE Sales
How to Amplify Sales from Digital Video with Performance-Based Strategy
Video is an essential part of converting shoppers to buyers. The data speaks for itself. According to a study conducted by Brightcove, almost half (46%) of consumers made a purchase as a result of watching a brand video on social media. And three-quarters (74%) say there is a connection between watching a video on social media and their purchasing decision making process.
While Madison Avenue and Main Street marketers recognize the essential role of video, they still are finding the right way to approach it.
Enter: “Performance Video.”
Performance video is the idea of placing video ads where they are most likely to connect with the viewers who want to see them, as well as to deliver to the brand the audience it seeks. Here are some ways a performance-based strategy can help amplify the potential of video’s impact on purchasing decisions:
- Personalize and Localize: Personalizing video content by location or message at scale delivers excellent efficiency – and sales results.
- Be Brand Safe: Digital video inventory in a programmatic environment can quickly become an unchecked Wild West. Performance-based strategy ensures brand safety.
- Verify: With a performance-based approach, third-party verification of your campaign confirms it is delivering the audience you need.
Eight in ten (79%) of respondents in the Brightcove survey agreed that video is the easiest way to get to know a brand online. But the reality is that video-based brand stories are an essential part of doing business today. A performance-based approach could amp-up your sales more.
SOURCE: Brightcove, The Science of Social Video, 2016
Like so many marketers, we were at CES too. It was focused on the shiny new objects of IoT, AI and Alexa. Relatedly, there was much ado about the plethora of consumer data that will come from new technologies. Marketers are exited to use these new tools in the never-ending quest to establish closer relationships with consumers. After all, you can’t get more intimate than a refrigerator who suggests a recipe because it knows what food is in your house.
Since inception, the metaphor for the web has been print. We read pages and the most popular social network in the world calls itself a book.
We’re halfway into the fourth quarter of 2016, and it’s been a busy one for the industry. As the country’s media entities (and consumers) come out of the political ad fog, they are awakening to the next advertising onslaught: the holiday season. Most of the media was planned and placed months ago, and, while many buys are well in progress, they are going from second stage to star of the show on screens across the country as the political campaigns wrap.
Online video consumption is high among multicultural audiences, according to eMarketer. The general population spends 12 hours 13 minutes viewing online video in an average month. But for multicultural audiences, this is much greater – African-Americans spend about 44% more hours on online video monthly, and Asian Americans spend about 27% more hours.
According to Zenith’s Online Video Forecasts Report, consumers average 19.7 minutes of daily time spent viewing videos on mobile devices. This is considerable, as it is a jump of 39% from 14.2 minutes the previous year.