Creativity has always been central to good advertising. In the early days of television, the ad industry was seen as a cousin to the film industry, showing top-tier content produced by some of the world's most imaginative people.
Consumers watched on the big-screen as advertising underwent a creative metamorphosis, shifting from simplistic product offering information to a storytelling method that sought to generate a powerful emotional response from consumers. This time period featured some of the most clever campaigns ever concocted.
While creativity is still a key aspect in making a good ad, it has also taken on a new meaning. Ad clutter, shortened attention spans, and increasing content expectations from viewers have forced marketers to get more creative not only with crafting their message, but with how they deliver it as well.
One way in which brands are increasingly seeking to do this is through reward-based advertising, something that, until recently, was limited to mobile gaming platforms. Generally speaking, reward-based advertising is exactly what it sounds like. It is an ad experience that gives users the option to engage with a brand in exchange for three main items in return: product discounts, access to premium content, or in-game rewards.
The traditional use of reward-based ads has been in gaming apps that give CTAs to install new games or shopping apps in exchange for in-game benefits. However, the numbers show that the tradition has been flipped - an August 2018 IAB survey showed that 54% of the top 50 buyers of rewarded video were brand advertisers. This is the first time this number has surpassed the number of gaming advertisers using the platform, which sat at 46% in August.
This is happening for a number of reasons, but the chief one is simple - consumers enjoy these ads. An eMarketer report published last week showed powerful audience adoption numbers. 80% of consumers said they would opt in to a 15 second ad to receive a discount from their favorite retailer, and this number remains similarly high at 77% for 30 second ads and 71% for 60 second ads.
The high consumer approval rate for this delivery format lends itself to both upper and lower-funnel performance. Consumers’ intent-based viewing experience and association of the brand with an upcoming reward leads to upticks in traditional engagement metrics, brand favorability, and brand awareness, while the use of end cards and CTAs with a personalized, immediate benefit drives conversions and other lower funnel metrics.
With the progression from gaming apps to other formats such as dating profiles, music platforms, news sites, and OTT providers and consumer preference for the rewarded video delivery format, it’s not hard to see it becoming much more common in the future. GlassView’s ability to deliver video campaigns to 98% of the connected world makes us an excellent partner to help distribute your rewarded video campaign.
To learn more about rewarded video, check out these reports from eMarketer Pro and the IAB. For info on GlassView and our ability to help you exceed your campaign goals, check out our website or contact us.