Last week saw the SMX West Conference’s “YouTube Ads for Fun and Profit” session, during which speakers discussed strategies for reaching consumers with YouTube advertising. Below are some of the highlights from the presentation.
Why advertise on YouTube?
Overall, you’re overlooking a huge potential source of traffic and revenue if you’re not exploring the multitude of ad formats YouTube offers. Here’s some explanations from the panelists, along with industry data showing just why that’s the case:
Audience Size: YouTube is either the second or third largest search engine in the world these days; and is 2nd to only Google in the total number of unique searches. YouTube has a total audience that’s more than double the prime-time audience of all three major U.S. broadcast networks combined.
Purchase intent: John Weyand, Managing Director of iProspect’s New York Office (iProspect/Range Online Media), reported that according to a GFK study, after seeing one YouTube ad, the viewer’s tendency to buy a product increased 40%. “This is twice as much as TV.” Said John.
Diverse campaign formats scaled to budget: YouTube ads allow for campaigns of any budget with Sponsored Videos, as well as with other formats for larger budget spends, including: homepage roadblocks, branded channels and contests.
Keep in mind, this is the conversation happening among video production company advertisers. Don’t forget what ultimately drives YouTube traffic. Videos. The same principal that inspires businesses to advertise on on YouTube could be applied to investing in video.
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