About 40% of media buyers at marketers and agencies say that measuring ROI in online video is hard to do. That's why marketers should outline goals up front so they can better measure ROI against the cost per view in online video. For tips on how to do so, check out this week's edition of the New Media Minute with ROI insights for online video.
So let's say you're a marketer or a media buyer and you just bought online video ads on What The Buck, Epic Meal Time, & Hulu. Now, would you be able to report back to your client on whether the money was well spent?
About 40% of media buyers and marketers and agencies say that measuring ROI in online video is hard to do–and it's also a hindrance to spending more money in online video–according to a new study from the ad network Casale Media. So while online video ad spending is growing, the vendors that service marketers and agencies would be wise to invest some energy in improving measurement, metrics, and the process of buying video ads, lest they lose the momentum of this still-new medium.
But there's more that marketers can do as well that attract ROI. I asked Casale Media's Chief Marketing Officer, Julie Casale-Amorim, for tips. And she said marketers should decide out front what action they want users exposed to their ads to take–whether it's sharing a video on social media, registering for a promotion, or making a purchase online.
Then, develop a model to calculate what those engagements are actually worth–like, $1 per registration–so the brand can measure ROI against a cost per view. Then look for the partners and platforms that can actually track those engagements and actions. Finally, test those platforms and make sure they work.