Acting as a cross between a search engine and a social network, YouTube is unique in its reach and influence over the internet. The video-sharing platform offers help to those seeking information about their favorite products, services, and industries, as well as to those looking for entertainment.
As the second most popular search engine in the world with over 2 billion monthly active users, it offers exciting possibilities for advertising and revenue growth, helping businesses both big and small connect with their audiences. From its cost-effectiveness to the speed of results, here are the top six benefits YouTube Advertising can provide for your business.
Visited by users in over 100 countries and 80 different languages, YouTube’s engagement levels are through the roof, extending to nearly a quarter of the world’s population. It’s an astounding number, one that ranks YouTube as the second-largest search engine behind Google, with YouTube accounting for more searches than Yahoo, Bing, Ask, and AOL combined.
Likewise, recent statistics indicate that YouTube continues to be the favorite platform for video sharing and video marketing worldwide, with 71% of people and 54% of marketers choosing to share their content on the platform. Entertaining videos were watched and shared by 59% of consumers, while 26% preferred the informational and educational benefits YouTube can provide with regards to new hobbies, DIY projects, or research into self-care.
Taken into context, these stats provide a tiny glimpse of what YouTube can offer small businesses and enterprises alike. For instance, consider the effort that goes into passing out flyers at a small town storefront. In the case of your local hardware business, they might be lucky to hand out 20-25 flyers in a single afternoon, simply due to the lower traffic passing through. On the other hand, YouTube can provide that same business with enormous improvements in reach and visibility. Its larger user base means it can be used to advertise to customers all over the world, based solely on the daily searches from hardware and DIY enthusiasts.
With over 1 billion hours of video watched each day, how-to guides and product reviews can be used to connect that storefront to a much wider customer demographic, especially if that business knows how to leverage YouTube’s unique influence over customer buying behaviors.
Similar to Google Ads, YouTube Advertising doesn’t require a very large start-up budget. You’re able to start small, carving out the audience that best resonates with the products and services you’re offering. As you learn more about your audience and the type of content that suits them, scaling your campaigns becomes much easier, due in large part to the enormous reach YouTube provides.
It’s important for businesses to factor in the costs of content creation along with the ongoing management of the campaign. After all, your goal is to determine your campaign’s overall profitability, so you can make necessary changes along the way. If your spending includes the price of a high-quality video, you’ll want to remember to include that when measuring campaign profitability. Likewise, the cost of managing your campaigns might be different based on whether or not you choose to hire a digital marketing agency, meaning you should include the budget for both scenarios to find the right fit. At the same time, targeting keywords with YouTube Ads can be less expensive than with Google Search, making it an attractive choice for industries that often have a higher associated cost per click.
Granular targeting is a crucial aspect of any digital marketing campaign, and YouTube Advertising is no different. After all, advertising to people who aren’t interested in your products or services is a waste of time and money. Thankfully, YouTube Advertising allows you to be extremely focused when it comes to targeting, allowing you to target based on a variety of common factors, such as age, gender, parental status, and interests. In addition, YouTube Advertising allows you to engage with audiences based on other factors such as:
Topics: Reach customers based on topics of interest.
Customer Match: Re-engage with customers who’ve shown interest in your products or services in the past using first-party online and offline data.
Similar Audiences: Use Customer Match data to target users similar to those who typically show interest in your ads.
Video Remarketing: Target users who’ve interacted with your videos or YouTube Ads in the past.
Affinity Audience: Target your affinity audiences, including users who’ve expressed a strong interest in topics relevant to your business.
Custom Affinity Audience: Narrow your focus to target a group of users in an even more specific way. For example, a high-end fashion retailer looking to maximize their fashion digital marketing efforts might decide to narrow their targeting to users who’ve expressed interest in high-end or celebrity fashions, rather than users who’ve expressed interest in fashion as a whole.
In-Market Audience: Target users who’ve actively researched products and services like the ones you offer.
Life Events: Target users based on recent life events. These can include milestones such as a big move, a marriage, or the birth of a child.
Ask yourself, do you feel more connected to a brand after seeing one of their television commercials or inserts in the local paper? Chances are that’s the case, and it’s why YouTube continues to be an excellent way for customers to connect to their favorite brands (and vice versa).
Audiences can connect with the faces behind the brand, understand the attitude of the company, and ultimately gain a better understanding of how those products and services work. It’s an amazing process when done well, giving companies an equal chance to turn the cameras on themselves using a variety of YouTube Ad types and formats.
YouTube Ad formats are split into video and display ads, with each of the following types offering its unique advantages:
It’s no secret that up-to-date metrics are a key part of evaluating your advertising strategy, and YouTube Advertising is no different. After all, you want to ensure your ad dollars are spent as efficiently as possible. YouTube makes this process easy and accessible via a combination of Google Ads information and the Analytics tab of your YouTube account. This will provide information about your views, costs, and budget details, in addition to your viewers.
While the available data is contingent upon the format and pricing you choose for your ad, some examples of this information include views, clicks, engagements, reach, and frequency. As a bonus, you can also track video viewership to gauge how often an ad is watched to 25%, 50%, 75%, or 100% of its length. Given the wealth of information at your fingertips, evaluating the performance of your ads and adjusting your strategy is much easier.
Given YouTube’s 2 billion monthly users, it’s easy to understand how the platform can provide quick results. After all, getting your ads in front of more people equals even more opportunities for ad clicks, which in turn provides even greater opportunities for website traffic and sales revenue. The key is leveraging all that user information to produce high-quality, highly targeted ads that genuinely interest your audience.
Here are a few general tips to help you get the most of your YouTube advertising on a technical or content creator level:
All in all, YouTube Advertising offers a unique and powerful means of connecting your business with billions of users across the globe. Cost-effective, mobile-friendly, and capable of fast results, it’s the perfect platform to help grow your business, offering customers an honest look at how your products and services can improve their day-to-day lives.
As an agency familiar with YouTube and digital marketing trends across multiple industries, VELOX Media is poised to help your business maximize these benefits, with media services to help you communicate your brand’s unique selling propositions and capture new revenue. Reach out to VELOX Media to learn more about how we can help you optimize your digital marketing campaigns and increase the visibility of your brand with YouTube Advertising.