13 Jan Mobile Video Ads Enable CPG To Measure Complete Purchase Path
Mobile video impressions more than tripled in 2014, according to Opera Mediaworks’ 2014 State of Mobile Advertising. In Q1 of 2014, Opera reported 11% of global ad impressions were rich media, but only 2.5% were video. At the close of Q3 2014, over 15% of ad impressions were rich media and a whopping 8.7% (more than half!) came from video. While Entertainment leads in adoption of mobile video ads, Consumer Packaged Goods (CPG) comes in at a close second.
Why are CPG companies flocking to mobile video in droves?
According to Opera, “The beauty of mobile video doesn’t just reside with the creative itself; the opportunity for brands to drive specific engagement after the video is viewed makes it a unique and attractive platform.”
But how does a CPG brand know the mobile ad has been successful and is actually driving post-view engagement?
While complete path-to-purchase metrics have been available in the online world for more than a decade, there has long been a need for a way to measure the consumer’s online-to-offline path.
Today, CPGs can measure the post-view success of mobile video ads with the integration of product location data. With hyperlocal mobile ads, CPGs can measure the entire purchase path – from awareness to product exploration to store-level/SKU-level sales data – to make sure their ads work.
Retailigence recently partnered with AdColony (acquired by Opera) and a major brand of athletic shoes to drive high engagement and in-store traffic for a new, exclusive shoe. Through a mobile video ad campaign, this major footwear brand was able to measure and take consumers through the entire purchase process, which yielded significant engagement rates and consumer product interest.
A rich media “End Card” followed the HD video ad and enabled consumers to learn more about the shoe, choose their favorite shoe color, and “tap to view” nearby retail locations with real-time pricing and availability (with Retailigence’s hyper-local product data).
The shoe campaign not only averaged an engagement rate of 3.03%, which is 49% higher than the average benchmark, but it also resulted in 8% of users showing interest in learning more about the shoe by tapping on Retailigence-powered “Find Store” call-to-action button. In addition, mobile users spent just under 10 seconds engaging with the shoe ad, which is 1.6X longer than the average engagement timeframe.
Post-view engagement metrics have traditionally been a mystery to most CPG brands. But the combination of HD video and post-view interaction with product location data today allows brands to shine a light on metrics further down the funnel – all within a single ad unit.
To learn more about enhancing hyperlocal ad campaigns with real-time product location data, visit Retailigence at http://www.retailigence.com/ad-solutions/.