Connectivity at a global level continues to grow at dizzying rates. The focus on technology is increasingly being aligned with consumer needs, wants and desires – even in a mass market. Thus, as consumers want to be known, seen and understood by brands, a dramatic increase in dynamic video advertising has emerged; and this growth has been quite significant.
In Europe, the size of the digital advertising market is roughly $55 billion Euros – and this is set to increase. On average, video is 33% of display advertising in Europe, and – specifically in the UK – almost 44%.*
In the U.S., digital ad spend exceed $100 billion USD for the first time last year (according to the IAB), with a 25% YOY increase in digital video ad budgets. Of that budget increase, nearly two thirds was allocated to video. That’s huge.
Given this trend in video advertising investment, brands are now wanting to ensure that their advertising is having the intended impact. So, if you’re interested in measuring the impact of your dynamic video advertising, this post will outline some important factors for you to consider.
*Source: IAB Europe AdEx Benchmark Study 2018 and IAB Video Advertising Spend Report April 2019.
First things first: what is dynamic advertising?
For anyone unfamiliar with the term, “dynamic advertising” is the ability to play with multiple variations of one ad, across campaign flight.
How does it work? We’re able to reach audiences at a hyper-level, due to the increased use of data that allows us to target specific audience segments. In turn, multiple versions of an ad can be created for each audience segment, context and even the type of video player. This ensures that we get the right content in front of the right consumers at the right time.
How to implement a dynamic advertising strategy
Now, envision how a dynamic advertising strategy would work for you. Dynamic ads and content can be easily changed across different times of the day, or by changing the language (based on a user’s device settings). It can also include curated content that populates based on a user’s location, or even the weather.
Whether your advertising strategy is brand-focused or performance-focused, there is room to include dynamic content to your programmatic video campaign. And, in terms of data, the resulting outputs could be endless. In fact, dynamic ad measurement can be a more tactical approach to determining the effectiveness of a branded programmatic video plan.
Programmatic video ad measurement can also identify key brand KPIs – such as intent and/or extent of use, ad recall, brand preference and consideration – and measure each KPI based on dynamic and non-dynamic content. You could even go one step further and measure based on the time of day, location or weather in a particular region.
Add targeted respondents to your optimisation cycle
Surveys are another valuable tool for dynamic ad measurement. Additional data cuts can be achieved by matching ad exposure to targeted respondent survey data in real-time, giving further means for optimisation against demographic, age, gender, creative, site and placement.
Consider this: there could potentially be 20+ creatives being delivered throughout the course of the campaign, with plenty of opportunities for analysis. This also provides a perfect means for a reactive approach to optimisation – whether it’s for shifting programmatic spend according to publisher performance, or focusing on a smaller set of creatives for the remaining half of the campaign.
Lucid is highly effective in this realm, as data is our main deliverable. With our platform’s access to millions of global respondents, we deliver clarity and absolute transparency into the opaque medium that is digital media. A scalable solution like Lucid enables you to reach tens of millions of people per day, utilising targeted survey data to match ad exposure to respondent profiles.
In other words, we can measure people’s responses to your ad. Lucid’s solution allows you to pixel anything (and even ingest viewability data), and receive exposure information within seconds of the campaign launch – giving you real data to take action on.