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Greg Morey is the Executive Vice President of G.R. Wyse & Company, a customer acquisition strategies firm that creates lead and customer acquisition programs for advertising agencies and companies using the Internet.

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The Agency Conundrum: Advertisers are Ready for Video, But are Consumers?

Written on
Jan 30, 2006 
Author
Greg Morey  |
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The Agency Conundrum: Advertisers are Ready for Video, But are Consumers?

On Day 2, text CTR’s still edged out video by double, however, video conversions beat the pants off of text by 238%. An anomaly? Perhaps. By Day 3, text CTR’s and Video CTR’s were within 10% of one another and conversions for text had come back but were still not outperforming video.

We decided to look past the 4-day rule and evaluate the results by the end of week 1 to see what would happen. As predicted, text had ceased to have any relevant information to share, with the responses virtually dropping to zero. But video was still converting. The CTR’s and conversions weren’t anything worthy of starting happy hour early for, yet they were still happening.

When we took the sum event of the weeks’ findings, there were 34% more clicks on text than video, and 46% more conversions for text than video. What we found interesting is that the shelf life for the ad was longer. That’s what I refer to as my “A-Ha!” moment. The A-Ha moment for me is that consumers think video on the web is kewl, however, to quote an agency friend, “I’m not convinced they’re impressed by how we’re giving it to them.”

So what’s the takeaway? The takeaway is that we need to keep working and testing ways to apply interactivity to video and get beyond the single click.

For example, think about testing conversational video where the video host delivers the initial message within 10 seconds and similar to voice mail, prompts the consumer to select a course of action. Each course of action takes the consumer through a different experience with the client’s brand, yet inevitably ends up in the same place.

Video’s opportunity lies in the fact that we do not have to apply what we know of offline media to online because it is comfortable. Was MySpace comfortable or AIM comfortable? Nope, but it works for the consumer. Push to find the interaction and you will make clients happy with the ROI!





Reader Comments.

This is a fascinating test and bolsters my opinion that you can’t just put video on the web and expect something to happen. The behavioral dyanmics of the web are different from TV and so you have to reflect that. Broadband makes rich media possible, but what makes the rich media web different from TV is interactivity. Interactivty not only gets the viewer involved, as opposed to the passive TV experience, it also makes the experience more relevant and thus more valuable and compelling.

Posted by Tony Quin | 1:13 pm on January 30, 2006.

I am a little confused here. Day 1 text conversions must have been so significant as to overshadow the 238% Day 2 results that video got. Is that accurate or miststated?

Posted by Dana Farbo | 5:35 pm on January 30, 2006.

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