Throughout this series on running a successful online video contest, we've covered a lot of ground. We talked about the importance of The Premise and The Prize. We've also looked at using earned, owned, and paid media to promote your contest on a budget. In this final installment in the series, we look at some simple ways you can maximize the return from your online video contests.
Serve Video Advertisements Against Content
According to research from eConsultancy, video advertisements have been proven to increase purchase intent by up to 70%. By coupling video ads with video entries, you can achieve a higher ROI from your video contest. Below are some tips for effective online video advertising:
Use Shorter Ads
According to research, 15 second video ads have a 20% higher completion rate than 30 second video ads. Using shorter video advertisements can increase the level of engagement users have with your ad and therefore increase their effectiveness.
Consider the Content Length vs. Ad Length
If 15 seconds ads just aren't enough for you, consider the average length of video submissions before placing video advertisements as serving a longer ad against short form content can mean significant decreases in completion rates.
As this graph shows, the completion rate of a 30 second ad against long form content is similar to that of a 15 second ad. However, the completion rate of 30 second ads decline much more rapidly against short and mid-form content.
Consider Your Ad Placement
The point at which your video ad is displayed can have a significant effect on its completion rate.
As this graph shows, Mid-Roll advertisements are proven to have the highest completion rate as users are already engaged in the content.However, Mid-Roll advertisements interfere with the viewing experience and are detrimental in creating an emotional response in the user making them less inclined to share the video.
Build & utilise your database
Consider using the data collected from users upon signup, including name, email & address, to continue the dialogue with your customers. Possible executions include:
Offer an exclusive post-contest deal
Offer all users an exclusive deal to thank them for their participation in your contest. Consider utilising coupons or samples for this, as it helps put your product in the hands of users which can ultimately lead to loyalty sales.
Add users to your mailing list
Considering adding the user information to your mailing list to continue the conversation with your customers, making sure you comply with any applicable Anti-Spam laws in the country you operate.
In an attempt to prevent unsubscribes, consider the context in which these users landed on your mailing list and attempt to provide valuable content rather than blatant promotional material.
With so much free video content being created, it's a good idea to re-purpose this content where possible. Depending on the premise of your contest, some of these ideas may be relevant to you:
Create a montage – If you received a number of great submissions, consider editing together a video montage to be seeded around the web. With some good editing, appropriate music and basic seeding techniques, you could have a viral video on your hands. For best results, consider some of the viral video tips mentioned earlier or check out the social video series from our friends at ReelSEO.
Add video to your marketing strategy – If you received a number of submissions relating to your product, company or service (i.e. testimonials, interesting uses, etc.) consider re-positioning these on your corporate website. Social proof has been proven to increase purchase intent and video is an excellent way of delivering the message.
Add entries to your YouTube Channel – Behind Google, YouTube is the second largest search engine in the world with over 3 billion searches monthly. By re-positioning the video content on your YouTube Channel, you can drive some of that search traffic to your channel and build brand awareness organically.