Do you have the right tools to measure the impact of your video advertising campaign? If you answered no, then you're not alone.
BrandAds surveyed more than 100 advertising professionals about the current state of digital video campaign measurement. It found 60 percent of advertisers are unsure how to measure the impact of their campaigns with the current tools and data on the market today.
Digital Video Advertisers Want More
In a world where there are many analytics tools that can measure the impact and effectiveness of video campaigns, why do so many advertisers seem to think none suitable for their needs? According to BrandAds, 50 percent think the tools available are too expensive or create too much operational overhead. Others complain the tools don't deliver real time information. In fact, only 12 percent of advertisers say they are getting campaign data in real time.
Before we go on, let's mention the fact that BrandAds is a provider of video measurement technology. Still, the findings are interesting.
What kinds of metrics are advertisers using? Most rely on impressions, clicks and completions and most are getting these metrics from third-party tools. However, being able to measure brand lift and view ability would influence their planning and buying tactics, the survey respondents suggested. That is especially true if the measurement comes from third-party applications, which they apparently trust more than ad networks, ad exchanges and publishers.
Are video advertisers being too picky or are existing video campaign tools just not enough for the average ad professional?
Wanted: Affordable, Advanced Analytics
In a recent survey from See3, nonprofit marketers also cited budget limitations, lack of staff resources and insufficient ability to measure or prove impact as key barriers to video production and analytics. In June, Anupam Gupta, CEO at MixPo, discussed what advertisers need to know about multiscreen video advertising in a blog post. He wrote:
The number one challenge is measurement. The industry is inundated with data, but 'measuring and evaluating campaign effectiveness' ranks as the top challenge for running multiscreen video advertising campaigns. [A total of] 71 percent of agencies and 59 percent of media companies list campaign measurement and evaluation as a core challenge. 'Lack of standardization,' 'managing complex creative executions' and 'targeting' were some other challenges cited."
This seems to indicate tools with advanced analytics like Adobe's Marketing Cloud and WebTrends, while great, may not be the answer for all marketers. Free or more affordable tools may provide reasonable measurement capabilities, but lack real time reporting, which all video advertisers deem necessary to evaluate their campaigns.
Title image by Max Griboedov (Shutterstock).