2013 is shaping up to be a great year for video. YouTube is clearly making more of an effort to become more social. Monthly video consumption has risen by 50% and video advertising platforms like Brightroll are seeing their revenues climb because more companies are jumping into the video ad game.
Let’s look at some mind blowing YouTube statistics to see just how much growth the world of video is experiencing. I know YouTube doesn’t represent all the videos on the internet but it is the most well known so we’ll go with that.
- 3 billion hours of video are watched each month (up from 2 billion)
- Over 800 million unique visits to YouTube each month
- 70% of YouTube traffic comes from outside the US
- 1 trillion views in 2011.
- 600 million views from mobile devices per day.
- 500 years of YouTube video are viewed on Facebook every day. 700 YouTube videos are shared each minute on Twitter.
- 98 of AdAge’s Top 100 advertisers have run campaigns on YouTube and the Google Display Network.
I decided that it was worth it to give YouTube advertising a shot awhile back and the results thus far have been incredible. Advertising on YouTube requires people to use Google AdWords so if you’re already familiar with that platform, you won’t have much trouble adapting to it.
Here are some key points:
1. Low Cost Per Views
Similar to a cost per click, a cost per view is when someone decides to view your ad. One key benefit here is that if you’re running an in-stream (preroll) ad, you won’t be charged for the view unless the viewer watches the whole ad or 30 seconds of the ad – whichever comes first. For reference, preroll ads on Youtube performed the best when I was testing it out and the cost per acquisition numbers were amazing.
2. Transparent Tracking
Some of the video advertising platforms leave a lot to be desired in terms of tracking and reporting. You don’t have to worry about that since Google provides you with a plethora of data and is continually improving their interface. Video advertising is still in its early stages and to be honest, YouTube advertising still has a ways to go before it matches up with the current Google AdWords interface. It’s still a lot better than the other stuff that’s out there now.
3. Flexible Bidding
Whether it’s YouTube search keywords, preroll ads or sidebar ads, Google gives you full control on how much you’d like to bid on different formats.
4. More Targeting Capabilities
The Google Display network reaches over 80% of internet users worldwide and Google understands that it’s in their best interests to give you a wide variety of targeting options. So far, I haven’t seen any other platform provide this degree of targeting. If you’re just starting out with video advertising, I recommend you select two different targeting groups so you a more focused campaign aka you are not burning too much money. An example would be targeting ‘Web Designer & Web Developer’ topics and then picking out a list of web design/web development related keywords to advertise on.
There’s a big of digging you have to do in Google AdWords to truly take advantage of all the features but once you play around, you’ll be fine. The results I got from YouTube were phenomenal. Take a look:
- The average cost per view is $.07. This is like how Google AdWords was when it first came out. It’s VERY tough to find clicks this cheap nowadays. Especially highly relevant clicks.
- The cost per acquisition(CPA) was $27.80. The target CPA was $60. Insane.
- We achieved tremendous results with an impression share under 10%. That means there’s still a lot more people we can expose our brand to.
- We paid about $.65 per website click. Icing on the cake.
I mainly outlined YouTube in this post because it is the biggest video platform and because I tested its advertising platform first. The success of YouTube ads has left me pretty optimistic about the possibilities with other platforms.
If you haven’t tried video advertising yet, I recommend you giving it a shot. It might take more resources initially, but you just might be surprised with the results you get.
Image Source: Rego – d4u.huThe Time For Video Advertising Is Now. by Eric