Marketers remain uncertain about what kind of impact their Digital video campaigns are having, according to data from a recent report.
A study conducted by the CMO Council and video advertising technology provider ViralGains found that although 78% of chief marketing officers are increasingly held accountable for bottom-line metrics like sales, "the vast majority are still measuring video ad success with traditional, awareness-based metrics like clicks and impressions." The report surveyed 233 senior Marketing Leaders in the first quarter of this year.
According to the study, "results revealed that marketing leaders are still very uncertain about the results they are generating from digital video, and many don’t have the knowledge they need to succeed." Even so, many have plans to increase their spend on video this year. Nearly half of all marketers surveyed expect to grow their digital video ad spend by up to 25% this year, the report stated.
"The research is clear - there’s a massive gap between how video advertising success is measured and the metrics that truly move the needle for brands," said Tod Loofbourrow, chief executive of ViralGains, in a statement. "Today’s CMOs need to deliver insight and attributable impact as well as scale. They are rising up to find solutions that leave behind impression-based buying and help them drive and understand meaningful business outcomes. The results of this research validate what we are hearing from marketing leaders across industries."
The report also said that only 3% of respondents believe that the current Media Rating Council standard for video viewability - which mandates that video advertisements appear halfway on-screen for at least two seconds to be deemed viewable - is reasonable.