The people at Tidal TV, an online video advertising company, know that it isn’t easy to study the effectiveness of online video advertising. Are you really serving your videos to the audience you want? And, even if your target market is seeing them, is that translating to higher sales?
To solve that problem, Tidal TV has created SaleScore, a measurement tool that can actually quantify sales as a result of viewing online videos. The tool works with SymphonyIRI Group, which has a network of 86,000 participating consumers. Those participants scan every purchase they make when they get home. TidalTV is able to monitor which online video ads they see, so the combined data shows how ad exposure leads to higher sales. According to Kevin Haley, chief scientist at Tidal TV, there’s no ramp up time, as with competing solutions.
The service is targeted to consumer packaged goods manufacturers, and they have to meet certain campaign minimums before Tidal TV can run a campaign. After all, it needs to be sure it has enough data to create worthwhile results.
According to Haley, there are several challenges to measuring the effectiveness of online video ads:
Too often, says Haley, people look at the wrong results when judging the effectiveness of an online video campaign. They look at click through rates, for example, or whether or not their ad was above the fold. What’s more useful is to measure the return on investment (ROI) for different as positions. While above-the-fold is preferable, a cheaper spot lower on the page could offer better ROI. The right tools, he says, remove the guesswork.
The Time Lag
If you get results after a campaign is done, they won’t do you much good. An ideal solution lets vendors study the results while an online video ad campaign is running, so they can tweak it for better performance.
The Target Audience
Advertisers often have one target audience in mind, and pay a premium to show their online video ads to people in that demographic, says Haley. But that might not be the best value. Learn the positive ROI for each audience segment and buy spots that will give you the best return.
See What Works
Not every ad campaign is going to be successful, but every one has lessons to teach. With good analytics, you can see which buyers are responding to the ad and learn from it.
To learn more about TidalTV’s offerings, visit TidalTV.com.