Clearly interactive video ads on mobile is the space where the ad networks of the world are betting their chips on. In a latest development, InMobi, the world’s largest independent mobile advertising network has unveiled multiple advanced video ad formats designed to create an interactive ad experience for consumers.
The mobile ad network, InMobi that is engaging 691 million consumers across 165 countries, with its new feature creates a powerful new tool for brands and developers to increase consumer engagement by up to fivefold compared with other formats and media. The company is bringing close the ability of mobile to play video along with the power of interactivity, proximity to the user, ability to identify the current context, to name a few.
To give an example, if you have liked a pair of glares while moving out for work, then you get the option to click on it and complete the transaction. Similarly on a hot day to work brands can send contextual, smart video ads for a refreshing drink, hoping to increase purchase.
According to InMobi, top app developers across categories like gaming, music, media and entertainment - who are participating in an InMobi pilot program regarding video app promotion campaigns - have already seen an increase of up to 200% in app install rates. One of the reasons that the company highlights is since InMobi video ad views are non-incentivized, so users who download an app after seeing the video ad were found to be more engaged and generated more revenue.
With over 691 million users on its network, InMobi seems to be betting on contextualizing mobile video ads after it acquired Overlay Media last year. While the new set of ads are providing more interactivity and generating revenues, this is also being made possible with the introduction of four new video formats— Interactive canvas, video smart ads, video continuum and form capture.
With interactive canvas InMobi is allowing the advertiser or brand to enhance the video ad by introducing clickable windows, call-to-action buttons towards increasing the interaction rate. For example: Consumers can click on a pair of shoes in a video ad once a ‘hot spot’ appears.
Video smart ads would deliver contextually relevant ads based on external feeds like location, weather and live data; while video continuum will identify and re-target consumers by playing ads from a preset video series. This could be a series of ads on the types of stains a detergent can remove.
The fourth and the last video format will allow advertisers to better understand consumer preferences through customized questions or triggers that appear during the video ad, leading them to relevant retargeting.
With this new set of multiple advanced video formats from InMobi, Piyush Shah, Vice President, Products, InMobi thinks that the company will deliver great consumer experiences and its one billion video ad impressions demonstrates the scale and reach of the company’s offering.
Talking about the new development to TC, InMobi CEO Naveen Tewari shared that over next 6-12 months; nearly 30-40% of the company’s existing advertisers will shift to the new video platform. In fact the shift seems to happen already; around 9 partners invested $50,000 each during past few weeks in a global beta launch of the new platform, delivering around 200 million video views and over 60,000 conversions.
InMobi’s transition to becoming a more broad-based mobile ad company is quite evident with the way the company is progressing. The company recently came up with a novel concept - Native Ads Platform, which offers app developers a chance to deliver ads on their platform that can be customized to match the look and feel of the app.
From simple text ads the company is now geared to deliver video ads; for the CEO it’s a sign of how advertisers are evolving and more dollars are moving to video. Clearly this space will witness more innovation with the rise of smartphones and marketers engaging with customers in non intrusive smarter ways.