As we begin 2018, Moshe Vaknin, Founder and CEO, YouAppi explains that in order to create more memorable experiences for customers in the coming year, marketers and app developers need to ensure rewarded video campaigns take a larger role in their mobile strategy
A U.S. adult, on average, spends close to two and a half hours every day consuming content on their mobile device. Much of this is driven by native app experiences. Video-watching forms a significant part of a user’s mobile experience. We can process visual information much faster than text (60,000x to be exact) because our visual memory is connected to our median temporal lobe, which is also responsible for emotions. This means a brand has a much better chance of eliciting a favorable response from your audience with a good video ad than you do with a text ad .
Video was one of the fastest growing areas of digital in 2017 – in fact, according to Mary Meeker’s annual Internet Trends report, online video now accounts for 74% of all online traffic. Earlier this year research also revealed that 9 in 10 digital marketers include video in their mobile marketing plans. The same survey indicated that video is either critically (19%) or very (47%) important for their customer journey activities. As 2017 comes to a close, it’s clear that there is a lot in store for 2018.
Video gives brands a golden opportunity to personalize and connect directly with the consumer . In 2018 video content will see a surge in popularity. Not only will technology like virtual reality continue to create new and exciting mediums for video artistry, but solutions like rewarded video – also known as “opt-in ads” – will take consumer engagement to the next level as it offers value exchange between the end user and app developers. This medium enables users to earn in-app currency or unlock premium content in exchange for watching videos or engaging with other types of advertising content. Seventy-one percent of mobile gamers are choosing to watch video ads as their preferred way to ‘pay’ for game content. With advertisers looking for high-impact, mobile-led strategies, rewarded video ads within mobile games have emerged as the perfect format to drive the maximum ROI.
Rewarded videos, which is one of the most lucrative ad formats of recent years. But throughout the years there have been missed opportunities. Take the recent holiday season, for example. 54% of consumers said they would watch rewarded video for added holiday perks, yet only 20% of marketers choose to include it in their holiday campaigns.
The reality is that there is a tremendous opportunity with rewarded video, while there has been a reluctance to take advantage of this medium, in 2018 this will change. Rewarded video is turning a curve in adoption, and the numbers will climb significantly across all categories of apps . While rewarded video will be an upward trend this year there is the challenge of internal resources and time when it comes to mobile marketing. However, a rewarded video campaign shouldn’t be a daunting process or lead to more stress when it comes to creating mobile campaigns. Most consumers agree 15 seconds or less is optimal, so marketers should consider short, native videos to deliver customized offers and incentives that will keep their user base engaged .
Mobile has firmly put its stake in the ground in advertising and its position is undisputed; by the end of 2017 mobile ad spend will total $58.38 billion in 2017, accounting for 70.3% of digital and 28.5% of all media ad investment. As mobile platforms grow more sophisticated and have become the central source of engagement for all consumer-based businesses, video-based mobile content has increased in dominance, and video is now well-primed to be the preferred and most effective ad format.
For companies wishing to compete in this now digital-first world, their mobile strategy must explore the very edges of capability. Consumers have displayed an insatiable appetite for new experiences via the mobile channel, and the evolution of mobile technologies has allowed for innovation at a breakneck pace. Without a doubt, the prominence of video opens the door to a wide range of creativity, as brands explore how best to incorporate mobile video ads to engage users. 2018 will see rewarded video take a larger role in mobile apps – gaming and otherwise – as marketers and app developers continue to see the benefits.