Consumers more likely to click online video ads
Research by MediaMind, an independent provider of integrated digital advertising solutions, has revealed that the click-through rate (CTR) for online video is 27.4 times that of standard banners and almost 12 times that of rich media ads.
In an analysis of over 3 billion ad impressions globally over the first six months of 2012, the MediaMind study, shows an increase in consumer attention to online video in ads.
As the advertising industry adapts the Video Ad Serving Template (VAST) and Video Player-Ad Interface Definition (VPAID) standards, set by the IAB, this news will resonate with advertisers hungry for real figures to support the buzz of online video effectiveness.
“We have seen the increased importance of video interactivity from marketers and agencies and this research underscores why. As key pillars of the IAB Video Suite, VAST and VPAID allow the marketing community to drive true engagement with vital creative experiences through video messaging,” said Seneca Mudd, Director, Industry Services and Head of the Digital Video Committee, IAB.
The MediaMind study focused on analysing the common metrics available for each video format. For both VAST and VPAID, MediaMind measured CTR and the completion rates of fully viewed videos. In addition, the company analyzed consumers’ interaction rates at the ad level through VPAID.
The results also revealed that, globally, people were 10 per cent more likely to watch an interactive video ad (VPAID) to completion than rich media ads that include video. This demonstrates that interactive video advertising resonates with consumers more than standard video.
The overall interaction rate for VPAID was 9.57 per cent, meaning that one in ten people interacted with an ad while the video was playing, for example, with a game or a survey. Interaction rates peaked at more than 500 per cent (five interactions per ad per campaign) for some of the most impressive campaigns surveyed.
“As online video formats become more mainstream, the marketer will be free to focus on simply adjusting their video creative for any platform – TV, online or mobile ,” said Ricky Liversidge, Chief Marketing Officer, DG. “This global benchmarking from such a massive volume of impressions is tangible evidence that consumers are keen to engage with brands via online video content.”