Now more than ever, businesses recognize the immense opportunities that come with having an online presence. Ad campaigns on social media, like YouTube, bring numerous advantages to showcase products and services. Also, brands advertise on YouTube because it’s the world’s second most popular website. YouTube ads may not be part of your strategy, but rest assured, taking a little bit of time and effort is going to pay off later. Moreover, since Google owns YouTube, any ad must be made through Google Ads. Here are 5 reasons to advertise on YouTube.
Low Cost per View
YouTube is one of the most powerful platforms for businesses trying to capture customer’s attention. Given how vital it is becoming to a successful digital strategy; you are probably asking yourself: How much do YouTube ads cost? Worry not, this social media platform has a great reputation for fair costs! According to Influencer Marketing Hub, YouTube ads have an average cost per view of 0.010$- 0.030$. Interested in hearing more good news? There is no minimum spend! You just set a daily budget that you are comfortable with and later on, you can edit it in coordination with your campaign’s results.
However, the cost of advertising on YouTube also depends on many factors such as targeting or competitors in your field of expertise. Moreover, the price of their ads involves the marketer placing the bid. Therefore, there is no specfic way in definitively determining the exact cost per view for an ad.
YouTube advertising works. How do we know? According to Google, people who, on one hand, watch the entire YouTube ads are 23 more times likely to:
- Visit or subscribe to a brand channel.
- Share a brand video.
- Watch more videos by the brand.
On the other hand, viewers who don’t watch ads till the end are 10 times more likely to do one of the things mentioned above.
Furthermore, YouTube has 2 billion logged-in monthly users. With its extensive amount of users, this social network is one of the best platforms for a high reach. Apparently, people like YouTube, a lot!
Social networks, like YouTube, are made to target a specific audience. In addition, advertising campaigns on social media aim to select groups of people.
YouTube is widely used to promote, educate and entertain its audience. So, there is always a group of people that is interested in something. Whatever the nature of your business, your targeted people will come across your ads.
Since the competition is fierce, each brand and business depends on the algorithm to reach their target audience. Just like Google, YouTube has its own algorithm used to put to display the best and most relevant videos to users. 70% of the time, the algorithm determines what people watch on YouTube. Thankfully, YouTube has a wide variety of factors in its algorithm to decide which videos are the best and rank in the top of its search results.
With that in mind, you may ask: how can my ads work simultaneously with the algorithm? All credits go to our savior, Google. You can now target YouTube ads based on people’s Google search histories. The search engine is going to give brands a whole different side of the consumer’s mindset; one that interests them the most, such as:
- Demographic groups
- Remarketing lists
You can therefore reach your audience based on who they are, what they are interested in and what type of content they watch.
Time spent on YouTube
YouTube is similar to other social media sites. One click will definitely lead to another. Let’s take a look at these latest statistics of 2020:
- Daily time spent on YouTube: 40 min
- Daily Active users: 30 million
- Photos uploaded daily: 5 billion
So, it is true! People tend to spend a lot of time on this social media. Many of them see this platform as a means to kill time. You can only understand why the amount of content on YouTube increases as consumers’ appetite for online videos continuously grows.
Key performance indicators (KPIs) are specific metrics. They are used to track and measure progress. They enable you to manage, control and achieve desired business results. When it comes to YouTube videos, the KPIs differ from other platforms. So, what are the most important YouTube KPIs? The top 3 are:
- Watch time
- Average percentage viewed
With these metrics and tools in mind, you can easily cross out a KPI metric if the campaign did not match your business goals. This is contrary to testing the success of a TV ad campaign because of the data collected from YouTube. They are much more specific, actionable and accessible than TV advertising.
When it comes to YouTube the results are almost always immediate. It has become an integral part of any marketing strategy regardless the size of your business. YouTube ads are a great opportunity to increase sales with minimal costs. Start now! Contact Brain Space or visit our website for more social media marketing services.