Video advertising is here to stay and as a growing number of marketers put aside budgets for pre-roll and other formats, measurement and industry benchmarks are still lacking. Now, Innovid, the video advertising platform, has released a set of benchmarks for marketers to more effectively analyse the performance of their video ads. The 2017 Global Video Benchmarks report includes a set of KPI metrics such as awareness rate, completion, engagement rate and time earned.
Completion Rate, for example, states that it “measures the percentage of impressions where 100% of the pre-roll video was watched by a consumer. As attention spans get shorter and shorter, you have to get more creative to compete with everything else on your audiences’ minds. That’s why adding interactive features (custom interactive or click-thru messaging) within the video helps keep viewers more engaged.”
The company analysed thousands of video campaigns across over 200 global brands to establish these benchmarks.
Zvika Netter, CEO and Co-founder of Innovid, explains:
“With the recent increase in cross-channel, cross-device advanced video, advertisers are demanding higher standards in regards to performance, engagement and quality placements for their video advertising content. Our comprehensive video benchmarking study serves to establish industry standards for video marketing performance. Our mission is to help brands maximise their video investments through access to media-agnostic, open measurement, and innovative, advanced video advertising solutions.”
Other findings in the report highlight the increased value of interactive video advertising elements including clickable content and video overlays.
Indeed, custom interactive video campaigns have seen a 561% boost in user engagement compared to the standard pre-roll ads.
Furthermore, mobile click-through interactive video saw some of the best click-through rates with a 57% lift over desktop. Custom formats on connected TV also generated higher completion rates compared to others with a 73% lift over mobile and 23% over desktop.
Paul Verna, Principal Video Analyst at eMarketer, adds:
“Media buyers have long pushed for accuracy and transparency in digital ad measurement, but recent issues over video ad metrics and brand safety have given new urgency to their concerns. As video ad spending continues to grow across connected devices, and across content platforms that offer limited visibility into key performance metrics, third-party measurement and objectivity are more important than ever.”