To start tackling the question of mobile video monetization and the nuts and bolts of a successful mobile video strategy, we’ll start this overview by saying that mobile has drastically changed how we consume video, with 100+% year-over-year increase among people watching video via smartphones daily. This comes as no surprise as sight, sound and motion have always been the most engaging way to reach an audience.
We must recognize mobile for what it really is – a new medium that requires optimized content for experiences that are native to a certain platform, such as speed, choice and relevance.
It’s apparent that video perfectly matches mobile as a new medium because of users’ high engagement rates in mobile. People are more and more engaged in mobile activities, so running video content optimized for mobile is a must for content producers.
Mobile will continue to eat up a larger share of the digital ad spend, hitting a whopping 71% in 2019. Consumers are watching increasing amounts of video content on their mobile devices and data shows that this transition persists across content type, format, length, and device.
Creating Mobile Video Strategy
Knowing that smartphones have become inseparable part of our daily lives, content owners have no other choice but to see mobile video monetization as paramount in their endeavors to engage their audiences and stay on the top of the marketing funnel.
We’re going to outline the most important elements of a successful mobile video strategy every content provider needs to consider before embarking on the video monetization boat.
Mobile Platforms and Devices
Consumer reporting and statistics show that consumers show greater interest in iOS and Android devices. For this reason, content owners need to review their own internal data to get strong understanding of the devices users prefer as well as their viewing habits and preferences.
Also, providing the user with an ad experience on a new iOS doesn’t mean building up from scratch, but rather a lot less effort since many operating systems are highly fragmented on different types of devices.
Native Apps or Mobile Web
There are two options to deliver videos online and take care of video monetization.
One option is to build a native SDK by which content owners can have greater control of the overall video experience. However, a native app can also have its weak points like resources requirements and potentially customers who prefer viewing videos via the mobile web.
The other option is to deliver video though the mobile web. This alternative means there can be more restrictions coming from iOS and Android operating systems.
Some content owners start out with a mobile web approach and find that their users are so dedicated to their content, that development of a native application for better experience seem like a unnecessary move.
Others launch native apps and end up investing in supporting the mobile web experience because their customers are less inclined to download an application.
At the end of the day, these decisions are predominantly tied to the customers’ background and viewing habits. They’ll give you all the answers.
When delivering ads in different environments, there is no secret formula that works like a charm. The first step is to understand the capabilities of an ad serving for mobile web and app inventory.
Every content owner that wishes to enable ads to their videos is asking themselves what the ideal format of those ads is or the optimal ad length, everything that will not rapidly drop viewer engagement.
There is no magic run-time for video ads. However, our attention spans fell from 12 seconds in the year 2000 to just 8 seconds today, and experts believe our dwindling focus is a result of our digital dependency over the years.
Industry standard is 15 to 30 seconds, but companies like Twitter, for example, encourage their advertisers to produce no longer than 6 sec ads.
Time has come where viewers want brands to give them the right content, at precisely the right time. The content that always win is the one which is personalized and valuable to the customers in some way.
Data Possession for Video Monetization
Data should be passed to buyers, provided it’s protected. Brands should use different methods processes to identify audiences, like deterministic segmentation and specific targeting or re-targeting of users.
The best way for content owners to develop successful mobile video strategy is to explore their users’ behavior and then use that data to communicate the special value of their product.
Data can be protected without being exposed to a third party and, at the same time, allow for forecasting.
The possibility to use and analyze data (behavior, lifestyle and interests) from users offers huge possibility for video monetization. Namely, data monetization itself is expected to plummet by 2020 with a $203 billion in revenue. This opens the door to reach to a bigger audience pool ready to consume content.
Viewability & Audibility
For the best possible experience the fundamental factors are sight, sound and motion. The best optimized ads are both seen and heard by users.
Having in mind viewability, one big advantage is having pre-roll and mid-roll ads.
Pre-roll placements typically deliver the highest completed view rates, as they are in front of a video content. These ads with full screen placement are the most efficient on a mobile device.
On the other hand, adding in-content or in-read ads to your video content, the best practice would be for the ad unit to play the video when the content is viewed. These are becoming increasingly popular but doesn’t always give the same results for different advertisers. If the ad is placed in front of a valuable content, the CVR may suffer.
Skippable Ads Strategy
Skippable ads are desired by publishers and users alike, but they can have huge influence on the final set goal of the publishers.
To find out what works best is to perform a lot of A/B testing for different scenarios in order to measure results. Try adding skip buttons to see what works best as a balance between UX and CVR. After all, you want to show your ad to a users who actually want to watch the message.
Non-skippable ads, on the other hand, oblige the viewer to watch your video at all costs, but you won’t have a metric like whether they actually wanted to watch it or they just tabbed away.
As the market evolves into the digital era, a successful mobile video strategy becomes essential if content owners are serious about monetizing their video efforts.
Consumers are spending more time viewing content and media on mobile devices, so, logically, the prime focus of video monetization would be developing a coherent mobile experience by delivering engaging mobile ads in coexistence with valuable content.
Just like like TV, and radio before it, mobile is creating a new medium creative has to match the medium – it has to be immediately relevant.
Online content has grown immensely and it’s here to stay. Content creation and publishing has never been easier allowing any organisation to broadcast their premium content. On the other hand, more and more people are willing to pay for quality content as long as it’s ad free.
InPlayer and DaCast’s streaming solutions are going to announce their exclusive integration partnership very soon to build up upon their long-lasting relationship and offer even more flexibility and possibilities to their customers, in need of a simple, yet, powerful video monetization solution which can be used for successful mobile video strategy.
We, at InPlayer, try to redefine digital asset monetization by offering subscription, entitlement and payment management for rights holders, video and digital asset owners by means of using our product— the InPlayer paywall.
By helping digital content creators in their attempt to monetize and protect their digital assets, we help their end users stay happy with their complete content experience.
If you have additional questions about content monetization feel free to contact us. This blog has been written by Darka Panovska who is a content marketing specialist at InPlayer. She loves exploring consumer psychology, user behavior and the force behind video content.