Prime Content material Advertising Ideas: The Drawback With YouTube Promoting
YouTube is the largest video publisher in the world, but it’s still one of the hardest channels to understand for advertisers. Stephen Emsall, Strategic Planning Director at MiQ, explains how the YouTube API can help prevent media waste, but it takes money, expertise, and time to analyze the data efficiently.
YouTube is the world’s largest video publisher for all in-stream, native and video formats. It’s the most rewarding channel when it comes to unique user reach, and it’s the definition of digital first. It’s no surprise that the shift in ad spend from offline to digital has resulted in a surge in revenue for YouTube since the coronavirus was first locked. Google reported $ 6 billion in profit from the platform in the first quarter of this year – an increase of 49% year on year. Video display advertising in the UK was also reported to have grown 19% in 2020. Even so, for advertisers, YouTube is still one of the most difficult channels to get ROI.
Why is one of the most accessible and popular digital channels for advertisers proving so difficult? For one, YouTube doesn’t have customizable insights and doesn’t offer deep insight into the infinite number of data touchpoints. It is a standard solution and does not allow advertisers to tailor these insights to their needs. In addition, real-time optimization is a major challenge. Because DV360 provides data in the form of static reports after the campaign, brands cannot leverage real-time campaign insights. And since learning and getting better next time is the essence of good marketing, teams of skilled programmatic traders need to be given the right tools to optimize strategies on the fly.
YouTube also causes a tremendous amount of media waste – but advertisers know their audience is on the channel, so there is a reluctance to move away from it. If another platform wasn’t working, advertisers would likely shift focus to a more profitable touchpoint. If it’s pre-roll or a video hosted in a different location, the spending will likely be disabled. While the “win with it” attitude has evolved among advertisers, there is no certainty that they can win. This is a mystery to marketers, and if they could find an efficient way to reach their audience it would be easy to solve.
As with all puzzles, there can be a solution. For advertisers, the solution is the YouTube API. This tool is available and can be used by anyone for free. However, to get it right and add value to your strategy, you need the money, expertise, and time to analyze the data efficiently. MiQ’s expertise in data science and analytics enables us to improve YouTube’s performance by matching campaign data with the API to gain valuable insights on a particular campaign.
Crack the YouTube puzzle
First, the YouTube API is an incredible and extensive source of data on all of the content uploaded to the platform that enables marketers to gain far deeper insights in much less time. Even if anyone can hook into the YouTube API and access this data, advertising agencies and their clients are unlikely to realize this potential – given the amount of data that can be accessed, most companies aren’t up to it Sufficient technology or data equips science with the ability to analyze them promptly and cost-effectively. At MiQ’s Center of Excellence in Bengalaru, India, teams of data scientists and analysts work to not only generate amazing insights, but to automate those insights so that they are available to brands.
Another exciting solution to an advertiser’s toolbox is category overlap. By monitoring individual video IDs within categories, it is easy to identify content that is well received and to find categories that are heavily overlapping. Once these categories are connected, marketers can make impressive changes to their activation strategy and extend the reach of a campaign to like-minded audiences. In addition, Multi-Demand-Side-Platforms (DSPs) can help advertisers unlock the huge potential of first-party data and still be able to access YouTube among other open web strategies, as shown by one client we have top performing Videos have taken over their campaign and assigned these video descriptions to similar videos on YouTube via the API – so we can extend the reach of the campaign beyond the standard target group orientation.
Having access to detailed data about the channels and videos that are showing ads also helps reduce waste with relevant categories. Often times, while businesses display ads in certain categories that content is incorrect and unrelated to the intended purpose. However, with the ability to monitor individual video IDs, this scenario can easily be avoided. Marketers can quickly rule out anything that isn’t relevant to the campaign, minimizing unnecessary media waste. Valuable insights also enable agencies to better leverage video descriptions and keywords to spot trends in user consumer behavior before your competitors see them.
The ability to see in detail the contextual environments the ads are being served in via the API means brands are suddenly able to minimize their wastage, make sure they are relevant, and really begin to understand which ones Context signals improve performance when advertising on YouTube.
Without a doubt, the most exciting opportunity that presents itself to you is to combine YouTube with broader marketing strategies. Today, UK-based brands are able to use anonymized mobile data to get a unified view of the audience’s viewing habits across all screens. Without using a single cookie, agencies can combine consistent YouTube records that support omnichannel planning and activation, making this solution future-proof in the future cookie-less world.
By Stephen Emsall
Strategic Planning Director