Video production and consumption is exploding, with over 100 hours of video uploaded every minute and over 6 billion hours of video watched every month. In fact, eMarketer reports that the US audience for digital video will surpass 200 million in 2015, making up almost two-thirds of the entire population. Marketers are moving on this massive opportunity, with eMarketer estimating that US digital video ad spending will surpass $8 billion in 2016. What has the channel growing so rapidly? Video ads offer the visual, dynamic appeal of television, but provide the benefits of digital, like sophisticated targeting and tracking.
And with video consumption on the rise, much of it is happening on YouTube. eMarketer reports that 75% of US digital viewers said they watched videos on YouTube, more than the second and third largest streaming sites combined, Facebook (33%) and Netflix (28%) respectively.
You may have video assets already created that can be repurposed quickly and efficiently and will help you reach your marketing goals and your target audience. To reach that audience, YouTube allows you to advertise in two main ways through TrueView video ads. The first way is through in-stream ads, which operate similarly to a television commercial and play before or in-between another video; viewers are able to skip ads after 5 seconds of play. The second way, in-display ads, appear to the right of the feature video or in YouTube search pages.
Now you have the where, why, and how. But, there are a few key things you should be thinking about before you get started on YouTube.
Don’t Put All Your (Targeting) Eggs in One Basket
Anyone can create a video and throw it up on YouTube, but if it’s not compelling content and it’s not getting in front of the right audience, save yourself the trouble of hitting upload. It’s important to start with identifying your audience and creating broad targeting lists. Don’t place all of your targeting initiatives in a single group; this will inhibit you from making further enhancements and controlling your maximum Cost-Per-View (CPV) for different target structures. You can start with the three broad targeting settings: Age, Gender, and Parental Status.
Optimize & Monetize
The next step is where the optimizations begin. Once you have captured performance data, it’s time to dig into those targeting lists. Maximize spend by checking to see where your video is receiving the highest view rate and pause the low performers. You should continue to improve targeting and create more personalized, relevant messaging. As targeting gets more refined, key metrics like the number of views, view through rate, and average CPV should continue to improve.
YouTube has unique monetized channels that typically post videos around a similar theme or topic. If you believe your ad or product is related to a unique and popular channel, select them as placements and have your ad appear before videos on that channel.
Sharing Is Caring
Lastly, create and use remarketing lists related to YouTube, but also remember you have the option to use remarketing lists generated from your search campaigns. In a constant battle to win customer mindshare, use these lists to retarget customers and remain relevant during their customer journey.
If you’re looking into video advertising and still unsure of where to start, Rise can help. In the meantime, check out this really cool infographic that captures the enormity of YouTube and showcases some incredible stats, like how YouTube reaches more US adults ages 18-34 than any cable network.