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14 November 2016, 14:41

The future of social video

Video isn’t just trundling along: it’s absolutely flying. Especially on social media. It’s how we consume news. It’s how we find out what our friends are doing. It’s how we entertain ourselves on the way home from work. Video is enabling us to broadcast live on social media to audiences around the world, and watch as people comment and react. As consumers, it’s allowing us to find out about abrand’s product, service or campaign without having to read a full page of text. As consumers, social video is pretty much essential.

Making video a part of your social (and wider digital) strategy is easier, cheaper and more important than you might think. See for yourself: here are just some of the benefits.

Big impact, low budget

Distributing video content on social media is amazingly affordable, and lets you reach a large number of people at low cost (sometimes with a cost-per-view (CPV) of just £0.01!). It’s pretty flexible, too: on Facebook, marketers can choose between a cost-per-thousand-impressions (CPM) bidding model or a 10-second view option (where you only pay if your ads have played for at least 10 seconds). On Twitter, marketers are either charged per video view, or every time the video is 100% in view. Your video can also be targeted and boosted on social media, helping you create a really big impact with a low budget.

If customers don’t convert, it’s easy to retarget them

The great thing about distributing video content on social media is that you can quickly, easily and affordably build retargeting lists. If your viewer gets 25%, 50%, 75% or 100% of the way through your video, you can retarget them with additional marketing messages that appear as they scroll through the social networking site. Doing so creates a funnel effect: increasing reach and brand awareness in order to encourage more people to take action.

You cannot assume that, just because someone didn’t watch your video to the end, they don’t want to see it (or that they have no intention of converting). Many undecided viewers simply want a bit more time to think about it, or have had their viewing experiences interrupted. Retargeting will ensure that your oh-so-close-to-converting customer doesn’t forget about your video in the sea of content they’re confronted with.

Say, for example, a customer has been targeted with your video: they start watching, but when they’re 25% through, their phone rings and they click away from the video. They may well have wanted to buy your product, but now it has slipped from their mind. Then they see your ad in their News Feed, and go straight to your site to make a purchase. Your retargeting efforts have ensured that you didn’t lose an engaged customer, and boosted your conversions.

Social video in action

pslondon recently put all this into practice for a client, using Facebook as our platform of choice. The campaign’s objectives were to raise awareness of the brand’s initiative and to drive sign-ups – two very different objectives that we knew would best be met with a retargeting strategy (something the client had not previously considered).

The first step in the strategy was to launch a 30-second subtitled video that introduced the campaign. We targeted users who had interests that were associated with the initiative, in order to grow reach and awareness. The video reached 61,000 users, gained over 25,000 views, and achieved a great cost efficiency of £0.01 CPV. Within 24 hours, we then retargeted users who had watched over 10 seconds of the video with a sign-up message, which resulted in a 6% conversion rate.

By using assets that were already available (i.e. the video and the sign-up message), and tweaking them to become more user-friendly in the News Feed, we fulfilled the two campaign objectives. With a relatively low investment, the campaign was very cost-efficient.

Not only did the retargeting strategy deliver on the campaign’s objectives, but it also generated a relevant retargeting list of engaged users that could be communicated with in the future. It was a successful use of the company’s assets and media budget, and very much part of the tools we use for all our client campaigns.

 


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