Contributor Will Scott outlines six reasons why your business can’t afford to ignore YouTube when it comes to online marketing.
Advertising on YouTube is a cost-effective way to reach potential customers for nearly any product or business. YouTube users consume more than a billion hours of video content per day on the site. Within that large volume of traffic, advertisers are able to target specific demographics and regions.
For startups and international corporations alike, the video-sharing website has become an increasingly popular place to advertise. In 2017, 20 percent of all video ad revenues in America will go to YouTube, according to eMarketer forecasts. Below, find out why so many businesses are turning to YouTube for online marketing.
1. High rate of consumption
With over a billion users, YouTube hosts nearly one-third of all the people online. And the platform reaches more 18- to 49-year-olds than any cable network in the US, according to YouTube.
With younger generations reluctant to pay for television and cable, YouTube provides a free alternative for all kinds of media content, from music videos and tutorials to vlogs and cat videos. Industry-specific and informational videos are an effective place to reach niche markets, but outreach across YouTube puts your message in front of a much broader audience.
2. Find your business’s target audience
As with other online platforms, advertisers on YouTube have the freedom to target specific regions and demographics for their advertising budget. By sponsoring specific kinds of content, your business can advertise on the types of videos most likely to appeal to your potential customers.
Nationwide and industry-specific targeting is easy with the suite of options available to advertisers. Because many viewers are logged into their personal YouTube accounts, advertisers can target specific populations based on their search history and other key data. Affinity audiences allow your business to target viewers based on categories of interests, like auto enthusiasts or do-it-yourselfers.
3. Follow your audience along the consumer journey
Depending on search terms and video content, you can target customers with different types of videos. Is a viewer already comparison-shopping for your service? Your commercial may need to emphasize reasons to choose your business. On the other hand, the same video may not be effective for your established customers.
Customer Match allows you to filter the audience for particular videos using data from AdWords and uploaded email lists. By showing specific videos to your customers and newsletter subscribers, you can reinforce brand loyalty and shape the reputation of your company.
4. Part of a diverse advertising strategy
Facebook is likely to remain the biggest player in social media, but YouTube has a solid footing with vloggers and video content. Rather than advertising exclusively on one website, it’s better to plan an inclusive strategy that includes both social media and paid search advertising on Google.
When users move between search engines and different social media platforms, it’s important to have a clear presence across the different arenas for advertising. The mobile viewers on YouTube spend 40 minutes in an average session. Advertising directly on YouTube allows your business to reach your audience when they aren’t actively on Facebook or interacting with search engines.
Unlike other forms of advertising, online ads provide detailed information about the effectiveness of each listing. Exposures, click-through rates, bounce rates and conversions are just a few of the critical data points that would be nearly impossible to objectively measure with radio, billboards and conventional alternatives.
With data about which ads are most effective, your business is better able to tailor promotional and marketing strategies in the future. The relative success of certain ads can serve as market research into the selling points and products most important to consumers.
6. Audience research
Unlike with conventional television, YouTube advertisers can allow viewers to “skip” after the first few seconds of a commercial. While millennial viewers skip videos nearly 60 percent of the time, according to a survey from LaunchLeap, that isn’t necessarily a bad thing for advertisers. Viewers eager to skip after the first few seconds likely aren’t interested in the product or service, and platforms like TrueView allow you to pay only for the content watched to completion.
The data about which viewers click “skip,” on the other hand, can be beneficial for evaluating the success of different marketing strategies. You can even learn how long viewers continued to watch, whether they skipped immediately or after a certain point in the commercial.
The major benefits of advertising on YouTube parallel the advantages of other online marketing strategies. Unlike billboards and other tangible forms of product promotion, online advertising is easily scalable to fit any budget. A higher available budget can be used for a higher level of exposure and views. On the other hand, a small budget can be specific for targeting a niche industry or interest group.
YouTube video advertising is just one of many important elements for promoting your company’s presence online. Make the most of this vibrant social network by making sure that your business is a visible participant.
Almost a year back, the IT giant Cisco saved $ 100,000 when it decided to promote the newly launched router on digital platforms only. These days’ advertisers bet on digital advertising solutions because they help them accurately analyse the return on cost and the overall impact of an advertising campaign. A forecast made by PwC USA also claims that digital advertising is growing exponentially and American companies are going to spend $38.6bn by 2019 in this domain. In contrast, newspaper advertising is going to have a tough time and could experience a negative growth of 33% during the same period.
A major advantage of digital advertising is Pay per Click (PPC) payment mode, which means advertiser does not pay any extra amount to the partner website other than the number of clicks on the advertisement. Besides, display of an ad on both desktop and mobile screen ensure maximum outreach of a brand. Also, the mass appeal of social media and the availability of advanced analytical tools on social networks make Digital Advertising highly cost-effective and result oriented.
Strategies that Bring Results and Save Money
The cost of digital advertising is significantly cheaper than traditional advertising and businesses can save a great amount of if they carefully focus on the following things.
To ensure best returns from a digital advertising campaign, it should be targeted to the right audience. Advertisers who carefully select their target audience using the first-party data, second-party data, and third-party data as per their relevance receive impressions from the potential customers only. Data-based audience segmentation empowers advertisers with informed bidding decisions which ensure the success of an ad campaign and save money for the businesses.
Chase the Majority with Dayparting
Dayparting means dividing the scheduled week/day into multiple time slots and selecting those time slots when potential customers are expected to view and click on the ad. Various analytical tools help to study and predict the media consumption behaviour of the target audience and enable the advertiser to broadcast the ad at the right time. Dayparting ensures maximum return from a digital ad campaign because it empowers the advertiser with effective bidding strategies.
Keep the Campaign Fresh with Frequency Capping
Frequency capping decides that how many times the ad will be displayed or broadcasted to the particular audience during the total duration of the campaign. Advertisers who strategically fix the frequency capping usually get better attention of the people and they positively influence the decision of the prospective buyer. Low-frequency cap is considered beneficial for new campaigns with fresh creative while in the case of repeat/revised campaign frequency capping should be increased moderately.
Choose the Right Destination with Geotargeting
Geo targeting means more qualified leads and maximum utilisation of the ad spends because it allows the advertiser to run a campaign in selected geographical locations. The target area can be finalised within a particular state, city or even a selected region of the city which ultimately reduce advertising waste. Geotargeting is an ideal way to control advertisement investments in digital landscapes as it enables the advertiser to develop a customised campaign for niche segments. Geotargeting is also a very useful tool for advertisers in collecting the information of potential customers, their buying habits and consumption behaviour. It also helps them to study market trends, the position of the competitors and what approaches they are following to promote their products.