Online media insights: pre-roll insurance, measuring media and prospecting
Our online media manager talks us through three interesting observations from recent months - from ensuring pre-roll advertising is effective, to using prospecting to target people who are interested in a product....but may not yet know it exists.
We know that pre-rolls' rates are hefty but we also know that it often pays off with the traffic it drives. Unfortunately many believe that the pre-roll ad has gone the way of the TV ad (ignored or, worse, skipped). There is a company that has come up with a solution to this pre-roll dilemma. They are offering up a way to get people to interact with pre-roll, whether they like it or not. They are calling it Pre-Roll Insurance and it "prompts consumers to enter a brand's tag line or message in order to skip an ad. This approach guarantees brand lift and safeguards against consumers skipping ads...". We think this is a fantastic idea that makes the most out of advertising budgets but wonder - if a user wants to skip your ad, is that perhaps a targeting problem?
This article on the 5 Display Advertising Metrics you Should Know struck a chord with us. It's so basic. It's what we all should know. But sometimes we need to be reminded: "online advertising is effective even at low CTR" (Click Through Rate). If we depend mainly on CTR to demonstrate the success of a campaign we are losing out on the full picture. For media campaign you also need to look at reach (how many people saw your ad), engagement (or dwell times), lift in site visits (in general, not just as a direct click), uplift in search (product or brand name) and the overall ROI or CPA (Return on Investment or Cost per Acquisition). Equator likes to present the full roster to get the best possible picture of a campaign.
Prospecting, Retargeting's Long Lost Brother
We all love retargeting because it works. The problem with retargeting is its scope - being limited to people who have only been to the site already. So how do we build scale off of this? Prospecting. This article defines prospecting as "the technique of finding consumers interested in specific products they may not know exist". The piece also covers the various success rates of applying this method, using prospecting (trying to generate top of funnelers) to create mass then retargeting to close them. A very simple concept but needs to be part of your re-fueling retargeting strategy.