The big question that all of us have been thinking about and many have asked is; what is the video ad campaign impact on brands. Today, Mixpo is helping us determine the answer to that very question as they release information on their new (I told you something big was coming from them).
In a blog post this week Mixpo have outlined some of what their new BrandMeasure is all about and how to implement it to gain further insight into video ad campaign impacts on brand. The offering is an in-video quantitative survey system that can help advertisers determine ROI on brand campaign investment.
If you remember, Mixpo are the guys who are building all manner of testing right into their video ad services and have impressed me with their focus on that, which is a mighty big feat since I'm a huge skeptic as well as a hardcore science nerd with the degree to back it up.
So when they implement something like this it's a safe bet that they put in tons of thought and work into its design and making it an effective measure. They've even compiled a list of ways to use the new service:
- Brand pulse. Get a snapshot of attitudes towards a brand. What is a brand's baseline awareness? What level of favorability do customers feel towards the brand? Which traits do they most closely associate with the brand (quality, speed, affordability, etc.)?
- Uplift. See what the delta is between those who viewed a video ad and those who didn't. How effective was the ad at changing brand perception? Did it perform well against prior campaigns?
- Competitive benchmarking. Create surveys to learn how a brand stacks up against competitor brands.
- Market research. Gain feedback on product ideas. Find out what customers appreciate most about products or want improved.
- Campaign optimization. Realize insights to refine and optimize your creative mid-campaign.
Online Video is certainly going to be a large portion of the campaign trail in 2012, we saw that in the last election cycle. Political types will want to be able to predict outcomes as well as see where their candidates stand and that can be done through Mixpo BrandMeasure. I doubt this was a coincidence. I'm sure they knew the value it would have for political parties and candidates and wanted to make sure it was out and available well before hardcore campaigning kicked off.
But it could also be used for a wide range of other things like:
- Retail & CPG: Determine impact of different ads on consumer interest, preference, and purchase intent.
- Auto: Get insights into consumer perception of your car models, conduct competitive assessments, measure awareness and purchase intent.
- Broadcast & Entertainment: Quantify impact of campaigns on audience intent to watch or audience willingness to recommend shows to friends.
- Dining: Garner menu ideas, understand and analyze consumer attitudes, determine campaign impact on awareness and intent.
Imagine having a pizza place and wanting to tailor the menu more to both existing and new clients. See how easy that could be with this sort of service? A quick survey that asked if they've been to your establishment, how many times (if any) and what their favorite menu item is. Then you could also give them the opportunity to make their own pizza topping combination and maybe even offer them a coupon for that very item.
Alright, so there are plenty of survey tools available in the wild already, so what makes this Mixpo BrandMeasure different? It's a valid question and I approach every new product with that in mind because if it's not doing anything different, who cares, right? In this case there are some interesting points of differentiation:
- The surveys are incorporated directly into the video ads
- There are no additional fees for the use of the service
- The tool works in any ad format – in-banner, in-stream, mobile
Free is good, but right in the video ads is cool as is the ability to use the service even on mobiles.
Now remember, I said they put a lot of thought from a technical testing side so they added this on to the product announce:
BrandMeasure necessitates at least one million impressions to achieve statistical significance (not because of a minimum spend requirement), although advertisers are welcome to utilize BrandMeasure for smaller campaigns.
For brand uplift testing (measuring impact on those who saw the ad versus those who did not), 10% of video ad impressions will need to be dedicated to placements that show only a survey – no creative.
This is one of the reasons why I like Mixpo, not only do they make interesting and useful products, they are also happy to give you exact specifications on how to effectively use them, something, I think, many companies aren't able to do or even think to do.
Response rates differ by a) ad format and b) survey placement. For comparison, the industry average click through rates for banner ads (of any type) is .08%.
IBV = in banner video
IS = instream
Post roll = survey shows ad end of video
Overlay = survey offer appears as the video is playing
Question overlay = we start asking questions as the video is playing – we don't even say "Want to take a survey”
AdOptions = users are presented with the option to watch the video or take the survey before the video even starts playing