Yes, this is what the new Digital Video Study by BrandAds is saying. Marketers are finding it really hard to accurately measure the performance of video campaigns.
Before we delve into the details of this finding, let’s give a quick glance at the main reasons which make the measurement of video important.
Why is video so important today?
Content marketing has become very important off late. And so, content on the web today is available in huge proportions. This is especially true of B2B content which tends to be very information oriented. When there is lot to take in, human beings naturally lean towards visual content, which is easier to digest.
B2B marketers are giving videos a lot of weight. Accordingly, 73% B2B marketers use video as a content marketing tactic as per a recent Content Marketing Institute survey. A recent eMarketer survey, states that 72% B2B tech buyers researched a product after watching a technology related video thereby showing the effectiveness of videos in prompting action.
The Difficulties of Measurement
It’s always important to measure marketing performance and look at ROI but for that one needs quick, credible data and good tools. However this is an area that is found wanting in video marketing. Digital marketers thrive on using real time data on various parameters to improve ROI and the absence of these for measuring video campaigns can be frustrating.
A lot of marketers don’t trust performance data provided by ad networks and prefer using third-party vendors. As per the study by BrandAds, only a measly 3% trust the analytics data provided by ad networks as opposed to the 88% who prefer data from third-party vendors.
Timeliness of receiving data is also a big factor in measuring campaign performance as timely data allows monitoring and improving the campaign performance. 19% of the marketers said that they acquire campaign data too late (at least a 24-hour wait) and 11% said they were unable to acquire useful data.
Only 12% respondents said that they receive campaign data in real time. If the problems with data weren’t enough marketers don’t seem happy with the tools either. More than 50% of the marketers surveyed said that most of the tools available are either too expensive or create too much of an operational overhead.
75% of the respondents said that viewability and brand lift are the most influential metrics for video marketing. However the survey also found that advertisers are still very dependent on conventional measurement tools such as banner metrics with 80% depending on impressions and clicks to measure video ads. This indicates a mismatch in what marketers want to measure and what they are actually
What is the need of the hour? How can this situation be turned around?
The latest changes on the video measurement horizon, yes we are talking about Google opening YouTube doors to comScore and Nielsen measurement tags, can be a major event that turns things around. When a giant like Google opens its doors to allow third-party measurement, it changes the rules of the game for the industry – others will have to follow or perish.
The entry of these third-party measurement firms can work in making the video measurement field a tad fairer than it was while somewhat easing marketers’ difficulty of measurement. comScore and Nielsen both being highly respected analytics companies also helps in gaining the trust of marketers.
It’s still too early to comment on the effect comScore and Nielsen will have on measurement of YouTube ads and other video ads’ performance on the whole. But we think we can definitely expect something ground breaking to happen in the near future.
What’s your opinion on these research findings? Let us know in the comments box below
Image Source: eMarketer