A recent study conducted by Magna, IPG Media Lab and ViralGains found that more than half of all ad impressions are wasted with standard video retargeting. According to The Sentiment Driven Consumer Journey, video ad journeys optimized with audience sentiment can double the consumer’s interest in the brand and likelihood to take action.
The study, which began in the third quarter of 2018, exposed 6,000 consumers to different video ad journeys and measured their reactions. The first group of participants watched a series of video ads that correlated with viewer sentiment and interest, while the second group was given a series of video ads solely based on exposure.
Research showed 59 per cent of ad impressions were wasted with standard video retargeting. Additionally, 85 per cent of consumers on the sentiment-driven journey agreed the ads were interesting, 76 per cent thought the ads were relevant, and 66 believed the ads were informative. Researchers also concluded that by suppressing ads to uninterested audiences and retargeting them to more interested consumers, advertisers can save an average of $59,000 for a $100,000 campaign.
“Marketers know that a great story is a relevant story, and the best marketers understand that they must use consumer sentiment to create customized and relevant consumer journeys; otherwise they risk not improving brand or product purchase intent or worse—increasing negative sentiment about their brand,” said Tod Loofbourrow, chairman and CEO, ViralGains. “Engage consumers in a dialogue about their preferences, and listen to the feedback that signals sentiment and purchase intent—when you optimize individual journeys at scale using first-party data and science, everyone wins.”
“Brands that listen to the consumer and create a customized experience rather than blanket everyone with the same ad sequencing stand to benefit in almost every conceivable way,” said Kara Manatt, SVP of strategy at Magna. “Customizing the consumer ad journey is a key element to smart advertising, as it allows advertisers to tell a cohesive story across ad exposures, as opposed to an inefficient ‘hit and miss’ approach. It not only leads to greater impact on brand KPIs, it also makes for a more positive ad experience for consumers.”