A recent eMarketer analysis of how much advertisers spend on YouTube reported YouTube will rake in an impressive $5.6 billion in gross global ad revenue this year and $1.96 billion in net global ad revenue. They also report YouTube will have a 20.5% market share of the $4 billion US video ad market. The analysis, based on hundreds of datapoints and studies about YouTube revenues, ad impressions, rates, usage, and other factors, not only portrays a bright future for the famous video sharing website, but opportunities for online advertisers as well.
YouTube is forecasted to make $850 million in US ad revenues by the end of the year, signifying a growth in video ads, and possibly the effectiveness of video ads as well. Advertisers spending significant amounts on video advertising this year demonstrates how effective a video ad can be for branding, and how it will continue to be moving forward. And with more people turning to multiple channels and devices to connect to these brands, it’s important to have the right marketing strategy that effectively tracks and measures user activity and keeps your audience engaged.
Every month, the official YouTube channel for advertisers publishes a playlist containing the previous month’s most watched ads on YouTube. These videos receive 1.5 million views at the very least. The top 3 most watched videos generally have at least 13 million views; 20 million views being one of the highest I’ve personally seen.
Based on the videos I’ve seen from these playlists, successful brands include a number of factors when implementing a video ad, such as the use of hashtags and call outs. Many brands include hashtags displayed throughout the video to help ensure the conversation and engagement can continue beyond the video itself. Other call outs placed within the video that redirects mobile users to the App Store or Google Play for example, is a great way to give users that extra push for that download. Doing so also nearly makes it effortless for them to purchase and download the app. They key to keeping your audience engaged lies within how you do it once the video ends.
Tracking and Measuring
All the effort advertisers put into creating engaging video ads will go to waste without using a solution that accurately tracks and attributes just how effective your video ads are. As with all ads, it’s important to track activity between channels and devices. Solutions at SearchForce for example, allow advertisers to easily manage and track campaigns across multiple devices and publishers. Using a cross-channel tracking solution will give advertisers more accurate insights on whether a video ad was the first or second click, if it is a direct source for conversions, and much more. Attributing values to these clicks will provide advertisers with even more insights on the value of a video ad’s role in the funnel. Though most video ads contribute to brand strategies, the influence it has on your customer’s buying intent can be extremely significant, therefore should be properly attributed to the right marketing campaigns moving forward.
Not too long ago, eMarketer reported on the growth of video advertising and that 69% of agency executives plan to run a video campaign in 2014. Knowing this, advertisers could absolutely benefit from testing and refining video ad campaign strategies right away, allowing them to hit the ground running early next year ahead of their competitors.