The one sure-fire way to know if your video advertising is working is to focus on metrics, something that can be as easy as tallying impressions or as involved as tracking audience reaction to ads across multiple screens. It’s not always easy, to be sure, but according to a new eMarketer report entitled Digital Video Ad Metrics: Making the Most of the Measurement Toolbox, not only is measuring metrics vitally important but, since using metrics from a single measuring point is often inadequate, it’s best to use and measure the data from several different metrics at the same time.
Simply put, metrics are analogous to hand-tools and, like the old saying goes, you have to use the right tool for the job. When it comes to video advertising, a marketer’s objectives determine what that “right job” is and, whether it’s direct response conversions or high-level brand awareness, the “right tool” needs to be used to measure whether that goal has been achieved.
According to an October 2013 study from BrandAds, clicks, completions and impressions were the three metrics that agency and brand professionals use most when buying digital video advertising. That being said, simply because a metric is popular or highly used doesn’t mean that it is actually useful. Brand lift studies as well as a mobility analysis were shown by the same study to be two metrics that would have a big influence on the planning of video media as well as the buying tactics for nearly 75% of respondents, both of which have nothing to do with impressions, completions or clicks.
Once again, integrating the different kinds of metrics for video advertising is proving to be vital, but also difficult. What’s needed is more clarity from marketers as well as more information about what the advertising campaign objectives are, something that will help both marketers and brands to merge the different types of metrics available and uncover more information about what video advertising works best.