Facebook serves more than 8 billion video views in a day. The social networking giant has been working aggressively building its video features to provide a stiff competition to the grandfather of video social networking, YouTube. However along with Freebooting, advertisers have been demanding clarity on ad viewability too.
Facebook’s biggest claim that it is serving more than 8 billion video views a day is based on the fact that it counts a video that autoplays for at least three seconds as a “view”. This was a concern raised by advertisers as they had no way to know whether someone had actually watched their ad, or just unwittingly scrolled by it while not paying any attention to it at all.
To get the confidence of advertisers, Facebook commissioned a study with Nielsen, to show even brief video views drive brand lift. The study found lift in ad recall, brand awareness and purchase consideration even for people who saw the video before it started playing but didn’t watch any of it.
Nielsen pulled the data from 173 of its Brand Effect studies that included video ads on Facebook, including only campaigns that showed positive lift. The studies used a test-and-control design and the research company divided viewers in the test groups by total length of video view. It found lift of 47% for ad recall, 32% for brand awareness and 44% for purchase intent for subjects who viewed the ads for three seconds or fewer.
However, advertisers were still not convinced and in June this year, Facebook started testing a new option for advertisers to purchase new 10 second video ads that were based on a cost-per-view rate.
But Facebook still felt that the 10 second video isn’t a best choice for advertisers; they have made it available so that advertisers can have more ad-buying choices: “We don’t believe it’s the best option in terms of capturing the best value and brand objectives marketers care about, but we want to give them control and choice over how they buy.”
Now it has been reported by Marketing Land that this week Facebook made a global roll out of the option to bid for 10-second video views on a cost-per-view basis. “Cost-per-view (CPV) bidding is now available to all advertisers globally and is designed for those who value price certainty for video views or value video views as their primary performance metric,” said Facebook.
Facebook further added that for the vast majority of brand marketers, auction optimized for video views, the brand awareness objective and/or buying via reach and frequency are the most optimal bidding options.
“For advertisers who prioritize view duration, CPV bidding is likely the right choice for them. Please note that, similar to other auction buys, CPV bidding will not have the predictability and control that a reach and frequency campaign will have.”
Nevertheless, Facebook has iterated its recommendation once again. “Please note that we still recommend our current brand buying capabilities, which include reach and frequency buying and auction optimized for video views (oCPM), as the best methods of buying optimal reach and driving brand impact.”
This should be a good news for Facebook advertisers who’ve been quite vocal with the way the networking giant has been counting its video views.
Giving in to the rational demands of advertisers, Facebook recently took a clear stand on the measurement of video ad metrics. For the first time, it partnered with Moat, an independent third-party, to verify Facebook video ads. To start with, the partnership with Moat has been focusing on verifying video ad metrics. “We plan to scale Moat verification to include all other types of News Feed ads, including 100% in-view impressions, and the Instagram platform,” said Facebook.
Recently, Facebook introduced a purchasing product dubbed TRP Buying—which references the metric called target-rating points (TRPs). The TRP Buying metric forms its ground over the Facebook- Nielsen’s Digital Ad Ratings, which will verify how well the social site’s video ads perform in conjunction with TV spots.