It seems that technology is in constant competition with tradition. In the case of advertising, social media, SEO, and PPC are battling with traditional advertisement platforms like network/cable television and radio. But would it be possible for Internet advertising to work with traditional advertising in a synergistic relationship?
Recently, the social media giant Facebook has introduced video ad buying that works just like broadcast advertising. Though Facebook’s goal is to tap into the powerful grip of television marketing, it claims that its new video ads will actually boost the impact television marketing has on its audience. Could Facebook’s new video ads heighten the power of a business's television advertising campaign?
The Facebook Game Plan
With Google’s YouTube already controlling a majority of the online video ad territory, Facebook has caught on to the profit potential. Research from Nielsen confirms the power of television advertising. But also in the Nielsin research is the suggestion that Facebook video ads can ultimately buttress the effectiveness of television campaigns.
The value of television ad spots varies depending on the ratings of the program, which is determined by the number of people watching: the higher the rating, the higher the value of the ad. The GRP, gross rating point basis, works off the system of program popularity. TRP, target ratings point, on the other hand, is determined by the number of a specific (target) audience within the GRP. Considering how PPC works in online advertising, the TRP system of measuring an ads value works in much the same way. But instead of bidding over target keywords made to reach a specific audience, the TRP determines how many in that audience are watching a specific program.
Facebook’s video ads use the TRP system. Neilsen is known for having the most widely used rating system for traditional television and is now partnering up with Facebook to measure the reach Facebook’s video ads have their target market both online and on television.
What the Research Shows
The research conducted by Nielsen proved Facebook impressions were twice as likely than TV impressions to reach their target market. Likewise, when advertisers combined the two approaches, there was a 19% increase in reach than with television advertising alone. As Millennials are well known to be among the most immersed in social media and technology as a whole, the combination approach led to a 37% increase in reach toward the Millenial market.
It's much easier to remember an ad you’ve seen ten times than one you’ve only seen once. For this reason, many companies have tried to place their advertisements in as many slots possible. Now, Facebook video ads are turning out to have that same effect. But rather than seeing the same ad through the same platform, audiences are seeing the same ads online and offline, thus increasing the ads effectiveness. And with the TRP approach of Facebook video ads, ads are becoming more relatable and less intrusive.
Facebook’s Video Ads Likely To Succeed
Video advertising is undoubtedly effective. However, rather than compete with online video sites like YouTube, Facebook is targeting buyers who have used television ads effectively, promising that their video ads will not compete but rather, enhance the power of television ads. By the year 2019, digital video advertising is expected to grow to nearly $25 billion dollars, a 13% difference. Even still, traditional advertising is expected to hit the $78 billion mark in the same year. But Facebook’s smart “collaborative” approach will reach into both markets successfully.
Instead of creating an entirely new set of metrics to entice buyers, Facebook is pulling in buyers through a tried-and-true advertising system. Though online video doesn’t grab attention quite as effectively as a television show, the ability to target just the right audience gives it an alluring upper hand over television. This way, online video ads are not irrelevant, and in many cases, can enhance a users experience rather than take from it.
The fusion of traditional and modern advertising campaigns is Facebook’s experimental but well-researched attempt to garner the best of both worlds. Though this is a fairly new endeavor, plenty of research suggests Facebook is on the right track. When developing a successful ad campaign, always consider a multi-track approach.