What kind of marketing data does your company collect and how does it use it? Further, what means does it use to collect it?
One marketing tool with data collection capabilities is online video, and it has seen an increase in popularity.
To learn more about this type of marketing ReachForce spoke with Jonathan Stefansky, CEO and co-founder of Viewbix.
Why digital/interactive video?
When we started the company, we saw there was a huge opportunity in the growing online video market. Traditional TV ad spends were quickly moving online, but all that was actually happening was that advertisers were simply using preroll as a replacement for commercials. The real power of the web is the ability to drive user engagement and tie those actions to an advertiser's specific goals. At Viewbix, we wanted to create an easy-to-use but powerful platform that would allow agencies and advertisers to quickly build and traffic interactive video ads that could drive meaningful ROI for their businesses.
How do online videos work differently than your standard behaviorally-targeted web ads?
Traditional video ads have an average CTR (click through rate) of 1.84% vs. 0.24% for display ads (source: Business Insider). Video ads can be behaviorally targeted just like any traditional web ad; however, the view rate of video ads is significantly higher than display ads, which suffer from banner blindness. As a result, video ads significantly outperform display ads.
The next evolution for video ads is to add true interactivity into the video player, as Viewbix does. This produces a massive increase in the engagement rates. Our clients are seeing average engagement rates of over 25%, which means more than one in four viewers are take a meaningful action while watching the video.
Of that 25%, how much of that content includes business/marketing-related content?
Video has become the dominant content marketing strategy for companies, and for good reason. According to Forbes, 59% of senior executives would rather watch a video than read text. As viewers are spending more time watching video online, it's only natural that they are using the web to consume business/marketing-related videos.
What kind of data are clients able to collect from video campaigns, and how is it being used?
Every action that occurs within the video player window is being captured in the Viewbix analytics suite. This includes not only traditional metrics like impressions, % of view, and clicks, but also highly detailed information like performance by distribution network, device type, geography, time in video actions are occurring, and much more. This data provides advertisers the information they need to see how their video ads are performing, and it allows them to them to make real time changes to their video creatives to optimize campaign performance.