Capture - Day 1 - 09:00 - "Drawing a Line Under the Measurement of Video Advertising"
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The buying and selling of video advertising is not new. A more recent development has been seen in the rise of the all-consuming publisher, and the amount of brands adopting video to target consumers across different channels. Then comes the tricky part: the measurement. In measuring the 'performance' of online video, what metrics should we be using to understand its impact? In this session, Head of International and Programmatic at Tremor Video, Greg Smith, will guide PMI attendees through the potential of video advertising and what advertisers, publishers and agencies really should be looking for when grading success.
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Capture - Day 1 - 09:00 - "Drawing a Line Under the Measurement of Video Advertising"
- 1. Drawing a Line Under the Measurement of Video Advertising Greg Smith Head of International and Programmatic
- 2. Why video?
- 4. VIDEO CONSUMPTION THROUGHOUT THE DAY Source: Internal data, Q2 2015
- 6. MEASUREMENT IMPRESSIONS Get the message out ? WHAT’S NEXT? COMPLETES Know the whole ad played VIEWABILITY Know the message was in-viewTHEN NOW
- 8. TAKEAWAYS • Video is very different from display • Environment is key • Programmatic doesn’t mean it becomes a guessing game
Editor's Notes
- Video is the only form of advertising that brings together the art of changing hearts and minds with the science of data and technology. It’s far more complex than display and much more like TV than any other digital advertising format. It combines the sight, sound and motion that marketers have come to love for the last 50 years with the incredible power that data that digital can provide. Take that story-telling ability and add a layer of engagement, which no other marketing medium can offer, and you have a truly powerful asset where consumers can lean-in. Problem is, video is a whole lot different from TV too. There are many more devices that each pose their own challenge when it comes to measurement. People watch video on multiple devices at the same time. They multitask in general, making it difficult to know whether they were watching your video or reading the article until the ad was over. But that video market is what Tremor Video exclusively focuses on, facilitating a premium video marketplace where buyers and sellers meet to deploy video advertising. And after 10 years we know what works and why.
- Consumption is changing, in some cases dramatically. Families no longer gather around the TV in the family room every Saturday to watch the Generation Game, there are multiple TVs in each house and consumers are watching TV-like content on laptops, tablets and smartphones. Capturing this audience for marketers is becoming more difficult as this audience is becoming increasingly fragmented. Consumers are multitasking - using another device while watching TV, making a cup of tea, or fast-forwarding through the ads - and multi-switching, moving from device to device while watching TV. This means their attention is diverted from TV even while they are watching a programme. TV still has reach and always will, but it is losing frequency and our attention. The impact of this loss of frequency and attention is critical for the TV industry and where video can serve as complementary. TV and streaming video increasingly depend on each other to amplify television schedules, offset decay and, against some audiences, recreate the reach and impact that TV used to achieve alone not so long ago. Actually, a complementary relationship presents some exciting opportunities for second-screen syncing, enabling brands to amplify their TV budgets. Video is the most powerful storytelling tool and has been for nearly a century, and advertisers recognise that in a multi-screen world, video can have the same emotive pull and impact that’s comparable to the all-powerful TV. What’s even more powerful is the ability to incorporate the opportunity to touch on mobile devices. Consumers can interact with an ad the same as they interact with content - through the use of photo galleries, additional videos and social media feeds. In fact, we’ve found that purchase intent increases by 6% among consumers who engage with video ads. Also, they spend nearly 2x as much time with ads that offer engagement than those that don’t. Further, it’s increasingly apparent that TV and mobile viewing are used simultaneously and often interactively. Commercial breaks are opportunities for TV watchers to turn to social sites on mobile devices to discuss programming and spots. Impact, as always, is key to campaign success; here, two (devices) are better than one. Advertisers now are in the enviable position of being able to clearly state their objectives and choose whatever screen matches best. It may also surprise you to know that most mobile video viewing occurs at home, despite the portable nature of smartphones and tablets. And much of that viewing occurs while consumers are on another device, which we call multi-switching (since you can really only pay attention to one at a time). The savviest marketers are focusing on reaching consumers across multiple devices constantly, and recognise that as consumer’s media consumption becomes more integrated so must our approach to planning. Our research has found that nearly 130 million consumers watch video across devices Mobile Video New frontier for marketers and we’re all still figuring it out as consumers jettison from device to device as a pace faster than any medium we’ve seen before Mobile video is just taking what you’ve grown to love over the last 50 years (sight, sound and motion) and putting it onto the screen that consumers care about most In fact, in a recent Pew research study, nearly half of US consumers said they couldn’t live without their mobile device Also important to remember that much mobile usage occurs in conjunction with TV consumption, especially when it comes to entertainment content, according to our research We need to stop looking at each device on its own – consumers don’t think like that or consume content. They don’t say I’m watching a mobile video clip – it’s just a video clip no matter what device it’s on.
- Where are we today? Amidst a thousand buzzwords, there’s much debate around the reasons and extent to which traditional TV budgets are slowly shifting to internet based streaming video. The Broadcasters’ Audience Research Board (BARB) recently revealed there were decreases in TV impacts in 2014, alongside a reported drop in television viewership. Clearly something profound is going on. While you can debate the extent of the numbers, the discussion seems to focus on one of two contrasting points of view: - Viewers have moved to other devices, and powerful targeting, audience penetration of social media and the role of time shifted viewing has meant advertisers have followed them. - Viewership is in rapid decline, it’s only a matter of time before the “death of TV” is finally upon us. Both responses, in my opinion, are short sighted and the second particularly far-fetched. Yes, digital media is growing, but the argument about which device dominates, or indeed shrinking viewership, is misdirected. The fact is, overall viewership is growing strongly when measured across all devices. Sight sound and motion has won, and frankly much of spend from lesser formats (like print) is being redirected to the TV/video ecosystem because of it. For TV, in a way, the pie is getting bigger. Case in point, TV is still dominant. Although BARB has reported that linear TV viewership is actually down by 4 minutes year on year, we should remember that the average user is still watching 2 hours 41 minutes of commercial TV per day. Linear TV reaches 98% of the UK populating in a month, with 25% of total advertising pounds spent on TV. Alongside linear TV, people are now watching VOD to complement their TV consumption. Tablet ownership has continued to see strong growth in the UK, with Ofcom reporting that 44% of households now own one. According to the BBC, tablets account for 29% of BBC iPlayer requests (March, 2014), equaling the number of requests from computers for the first time ever. The fact is, TV (including VOD) is being watched more than ever, and by the same audience overall. That audience is just doing it on the device of their choice. Of course there are distinctions in how video is consumed. Generationally, viewers of TV shows still skew older, but mobile and tablet viewing is making steady inroads, and not only with millennials. In fact, according to the eMarketer UK Internet Users 2014 Forecast, those aged over 65 have increased their digital video consumption by 16.5% in 2014 – higher than any other age group in the UK, and a figure that is predicted to increase at a higher rate than any other age group over the coming years.
- We’ve struggled in video when it comes to measurement – should it be more like TV or more like digital? The truth is, it’s both and neither at the same time. Much of the industry is relying on folks like Nielsen and comScore to lead the way ROI isn’t the only way to measure success, especially as consumers’ content consumption changes. They give us such little attention today that it’s crucial to think about our marketing campaigns across devices and mediums. Video offers a lot of ways to measure beyond ROI Engagement – people can actively engage with your “brand” Viewed to completion – we’re the only form of advertising where we can prove the video appeared 100% in-view and was watched to completion Brand lift – know in real-time if your ad is changing people’s hearts/minds. And with the power of technology you can make changes on the fly. And if you partner with the right people you can even choose to pay only when your ad works But if we focus on a few key topics within measurement we can help push the industry forward
- Viewability for example is a metric we’ve struggled with as an industry, we haven’t clearly defined how mobile viewability should be measured The issue is only compounded when huge discrepancies are occurring between the measurement parties (i.e. Moat, Integral Ad Science) This doesn’t help the marketers and creates more confusion eMarketer recently reported that while 80% of US publishers were familiar with the IAB’s guidelines on campaign viewability thresholds, only 69% of agencies and just 48% of marketers were The key here is to remember that marketers need to set their own standards and partner with companies that can deliver on it. Just like you’ve done years of research on how many times someone needs to see your ads to take action, you need to know how much of your ad they need to see. And if this answer is 100% of the ad, you need to find a partner that guarantees more than today’s standard.
- So while the industry grabbles with these issues, it’s important to look for partners that Understand that video is very different from display Are transparent Make guarantees