One way companies measure online visibility and success is with click through rates: the number of times a user clicks on a link on a website. These figures are especially important with video production Chicago advertisements because users often have to click on the ad for more info on the product being marketed.
TidalTV, an online video production Chicago advertising network, has come out with a new whitepaper,Video’s Great CTR Debate which talks about varying CTR by sector, age, content, daypart and geography. They say that only by applying all of these various factors will you be able to get a true idea of your campaign effectiveness.
Here are some of their findings:
1. Category Performance
Across 10 sectors, advertisements for the financial category performed best, with CTR rates 15% above the norm for all video advertisements. Home improvement and entertainment/movie advertising also exceeded CTR norms. With more than a 45 percentage point differential between the highest performing category and the lowest performing category, it is evident that a clear understanding of CTR rates by sector is crucial when evaluating campaign performance for diverse products and services. In other words, a financial services ad and a pharma ad must be evaluated differently, according to different category benchmarks.
Financial services are top, in an economy where no one has enough money, is in the midst of a foreclosure or is trying to keep from heading into one, not a surprise. I suppose pharma ads would do better if it wasn’t all about hair loss, impotence and obesity. I mean, if you’re in the middle of foreclosure, those are the least of your worries, right?!
2. Demographic Performance: Gender and Age
The study found that when it comes to gender, men and women show only a 2% point variance in CTRs for video advertisements. Age proved to be far more variable, showing an uptick on both ends of the age spectrum, with CTRs indexing 12% above the norm for both adolescents ages 15 to 17 and those over 65 years of age. The flattest CTRs come in key target demographics – those falling between 18 and 64 years of age – and perhaps the busiest and most message fatigued of all consumer groups.
Amen brother! I’m totally message fatigued.
3. Day of the Week/Daypart Performance
The data showed that higher CTR levels correspond to traditional Monday-Friday work hours, peaking at 9:00 a.m. and remaining strong throughout the late afternoon, with Wednesday’s CTR as much as 27% higher than weekend CTRs. Interestingly, although this study does not specifically address video completion rates (VCRs), a related analysis found that Saturday has the highest VCRs, suggesting that if an advertiser is able to capture a consumer’s attention on a Saturday, that consumer is more likely to take the time to listen to the entire message. While a marketer’s decision to place media on a given day is clearly driven by objectives beyond CTRs, knowledge of daypart norms is an important consideration when evaluating expected and actual performance.
So that means consumers are mostly clicking through video ads, while at work. I suppose that should make sense, after all, that’s not our time to waste, but the company’s. However, the two most active demographics… aren’t generally working so that’s quite odd.
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