Video spend increasing but effectiveness still unknown
Nearly 90% of advertisers have not performed any in-house research around the effectiveness of online video campaigns and how they effect offline purchase behaviour, despite increased ad spend, according to new research.
In a survey of 150 ad agency executives, online video network BrightRoll found that video remains favourite medium for advertisers, especially pre-roll, even though 87% of brands have increased video ad spend without tracking its effect on offline sales.
Amongst respondents who suggested they would like to conduct in-house research, 39% would explore the impact of online video advertising on offline sales, 36% would explore changes in purchase intent or brand lift, and 25% would measure its effectiveness vs television advertising.
BrightRoll has partnered with Nielsen Online to launch Video Impact, a new platform that tracks panel participants from the moment they view an online video ad all the way through to their offline purchase activity.
BrightRoll said the platform will help shed light on the driving factors of sales, including ad creatives, ad units, site placements, day parts, day of week and geographic location.
Tod Sacerdoti, CEO and co-founder of BrightRoll, said: "There is a big difference between measuring video efficacy with soft metrics, like brand recall or lift, and hard metrics, such as actual offline sales.
"BrightRoll believes true video efficacy is measured by return on investment, which equates to consumers actually making purchase decisions, and we're enthusiastic that Video Impact will be advancing industry research in this area."
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