If there has ever been a holy grail of metrics for online video, it’s the ability to connect audiences’ viewing habits, especially advertisements, with their actual buying habits. Tubular Labs has taken a step in that direction, with a new metric correlating social video views with purchases on Amazon.
The company today launched the new measure as part of its Tubular Audience Ratings suite. An initial study showed that a quarter of those who watched product-related social video programs had purchased the product through Amazon. It’s a reminder of the potential power of delivering a wide range of video content about a brand’s products, with a metric that finally quantifies the effectiveness of the approach.
“What this suggests to brands is that they should consider the audience they are paying for to be ahead,” said Ian Ettinger, senior director of product marketing at Tubular. “Whether it’s through their media ad spend or branded content, who watches is extremely important as some media publishers provide a more engaging audience (s) who are more likely to buy online. “
Tubular has been heavily involved in industry efforts to create new cross-platform metrics to enable brands to better gauge where their viewers are. Adding a “bottom of the funnel” component to the metrics closes the last part of the loop between ad, point of sale, audience, and buy.
“Now that business and publisher communities can see unique reach, frequency and conversion rates for e-commerce, brands can rethink how they invest in social video and unlock its potential,” he said. said Josh Schmiesing, director of marketing for Tubular.
The company triangulated opt-in behavioral data panels and its existing content measurement partnerships to build a new report, slated to be quarterly, that follows the link. The first report covers third quarter data in electronics, computer accessories, home and kitchen items, and clothing, footwear and jewelry,
Among these categories, electronics in particular had a clear correlation, with 25 percent of consumer sales on Amazon coming from people who had previously watched video content on that category. The company calculated that this equated to roughly $ 24 billion in sales.
Ettinger warned that “we can’t say” that watching a given video “puts them above” by making a given purchase in the next 30 days. But the correlations are notable.
“There are clear lines between the types of content that audiences watch and how it influences their buying behaviors,” Schmiesing said. “Our new capabilities demonstrate the impact of social video for brands as a sales-driven solution, showing how marketers need to invest more in these platforms while evaluating ad budgets. “
The company will more fully roll out the new metrics in early 2022, but will include key data in quarterly reports to highlight trends and changes in audience patterns. Company executives said the new measures should help publishers market the unique qualities of their specific audience to brands, without cookies but now including their buying behavior.