Is video content what your advertisers are missing to increase conversions? If they haven’t experimented with video advertising, they may be unaware of the ROI (return on investment) it can deliver. When talking to advertisers about video, you should emphasize its impact on click-throughs.
To make a case for video, we’re sharing some meaningful stats and ideas to help you sell more video ads.
The Stats on Video Content and Conversions
Video is visual and engaging and tells a story. Putting that in front of your advertisers’ customers can impact click-throughs and conversions. One study revealed that 74% of people who watched an explainer video on a product or service subsequently bought it. Moreover, customers want to see video content from businesses more than any other format.
Average Video Click-Through Rates
Serving video ads can occur in multiple channels and across devices. Defining the click-through rates (CTRs) and the variables that contribute to it, most data on the subject breaks down in these ways.
For social media video advertising, YouTube has an average CTR for video of 0.10%. Instagram’s average is 1%. Facebook’s video CTR is 1.78%. These metrics can serve as a qualifier for comparing with other media CTRs.
A poll of marketers also found that videos far surpass image-only ads on Facebook. When asked which format drives the most clicks, 59.3% said video vs. 29.6% for images. Another stat of interest is that Facebook video ads receive 10-30% more views than other ad formats.
CTR by Device
According to eMarketer, here are the average video CTRs by device:
Of the three, smartphones led the way and experienced greater CTRs than the year prior. Desktop and tablet remained mostly flat.
Ad length is another variable to compare CTRs. A 15-second video had a CTR of 0.26%, while 30-second videos had a 0.14% CTR. It seems shorter is better.
Another important metric contributing to CTRs is the completion rate, representing the percentage of users who watched the entire video. As of Q1 2021, the average was 81%, which is substantial, supporting the premise that video engages people.
CTR for Video vs. Static
So, how well does video perform against static content? HubSpot ran an experiment testing the two, and the video outperformed the image with 20% more clicks.
Another case study involved a digital agency comparing video vs. image ads, with video outpacing the other by 20-30%.
These numbers and stats demonstrate the effectiveness of video as an ad format. You may also have your own advertising metrics to share. The more video ads you place for advertisers, the more data you’ll have to reiterate the engaging nature of video.
Strategies to Overcome Your Customers’ Fears About Video
You may be hitting a brick wall with your advertisers when it comes to video advertising. They say, “It’s too expensive,” “We can’t produce a video,” and numerous other objections. You can counter most of these by offering them suggestions and discussing the potential for returns.
Video Ads Don’t Have to be Perfect
People aren’t going to critique the quality or design of your video. Research suggests that’s not what turns them off. Rather, it’s when the content doesn’t describe the product or service. They’re willing to overlook the fact that it isn’t Oscar-worthy.
Video Is a Format that Builds Trust
When your advertisers present a story in a video, it shouldn’t be a sales pitch. Yes, they want the person to become a customer, but video content is an opportunity to tone down on the selling and instead educate and explain. Video is a chance to engage in a way that other mediums don’t offer.
Consumers are skeptical about buying a new product or service from a brand they don’t know yet. Video gives them a chance to get to know that local company.
For example, a window and door replacement company needs to build trust before a customer converts. The customer needs to know the business is reputable and has product knowledge. Advertisers could produce a quick video ad talking about how they work with customers or simply showing how to measure windows correctly. This content could go a long way to getting someone to click to make an appointment and finally replace that broken patio door.
Video Works Well on Mobile
In 2020, 43% of U.S. residents watched video on a mobile device. That number will continue to rise, and that’s likely a place your advertisers want to engage buyers. Mobile video ads enable geofencing. You can target based on when that device enters a virtual geographic boundary (if the user shares this information).
Advertisers want to be relevant, and geofencing with video satisfies this. For example, video ads could highlight the delicious specials at the corner restaurant or happy hour deals from the sports bar. Your advertiser can catch a potential customer in the moment while they may be deciding where to eat or shop.
Video Is Versatile
Your advertisers can use video content in numerous channels; it’s one of the only formats with this versatility. They can use them in display ads, OTT, social media, their website and emails. The time and investment put into the development can reach customers in so many ways. If the content is evergreen, which means it’s always relevant regardless of the time or season, it can continue to produce results for years.
Helping Your Advertisers with Video Content
While it’s evident that video can boost clicks, your advertisers may still be hesitant. In addition to the points above about overcoming objections, you’ll find more tips, resources and strategies in our on-demand webinar, Video Explosion! How to Sell More in 2021. Watch it today.