Why YouTube Advertising is the best alternative to rising GRP prices!
5 reasons why YouTube Advertising is the right answer now that GRP prices are rising
GRPs: the TV market is overstrained and scarcity forces prices up. Time for brands to look for an alternative! YouTube Advertising offers numerous possibilities for brands. Read more on the advantages of YouTube Advertising and why YouTube Advertising is the answer to your search for an alternative.
RISING PRICES ON THE GRP MARKET
Interest in SVOD platforms is growing and wealthy players, such as retailers and online gambling parties, are entering the TV market. The result? Scarcity on the GRP market and rising prices (Adformatie, 2021). It’s about time to look for alternatives! But why should that alternative be YouTube Advertising?
YOUTUBE ADVERTISING: THE NEW GRP
The popularity of the video platform has only increased. The daily reach of YouTube increased to 5.8 million people aged 13 and older in September 2021 (Adformatie, 2021). The fact that a platform is (very) popular does not necessarily mean that you, as a brand, should do something with it. However, I would like to give you a few reasons why YouTube Advertising might be the solution to the GRP pressure:
1. The advantages of digital, but on TV
The shift from TV to online video is not the only development taking place. The way of streaming is also changing. Over five million Dutch people watch YouTube on their television via a Smart TV App or Chromecast (Emerce, 2021). YouTube facilitates the follow-up process, because you have insight into the device on which your videos are viewed. This means that you can adjust your advertising campaign specifically to the streaming method. Think of an awareness campaign for the Connected TV streamers, and more conversion-oriented ads on the mobile device.
2. Advertising on YouTube offers flexibility
Unlike GRPs, YouTube Advertising offers flexibility. Within the GRP market, you have to deal with annual deals, minimum guarantees, and fixed agreements. For example, a brand buys the BBQ season in advance. But what do you do if the weather is bad all summer? Advertising on YouTube is straightforward and flexible: you only run your ads when the weather is nice and if it’s pouring down during the crucial summer months, you simply don’t run the campaign!
3. Efficient advertising: advanced targeting
Although you pay for each impression on YouTube, the platform offers many targeting options. Where with GRPs you have no insight in who you reach exactly, YouTube Advertising offers you the possibility to collect high intent signals from all kinds of entities within the Google Ecosystem (think of: Google Play or Google Maps). The result? A huge source of information about your target group; which apps people download or which keywords they search for. This way, you create a qualitative reach with minimal waste.
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In addition, the possibility of frequency management contributes to efficiency. As the parent company of YouTube, Google provides data about the unique reach of an ad, taking into account the fact that the same ad is viewed on different devices or that multiple people share the same device. Because you, as an advertiser, can set the number of times that people will see your ad, your unique reach becomes much higher. This way you minimise viewer irritation and maximise recall.
4. Creative possibilities
On YouTube, you can advertise with online video content that suits your specific target group. You are no longer limited to the fixed TVC format of 15-30 seconds. An ad on YouTube can vary from a funny meme to long-form videos of 15 minutes. And you can further optimize this by playing with the way different ads follow each other (also called ad sequencing). OOT Granola used sequential storytelling to tell their brand story in a unique way, showing the viewer different snippets (skippable ads) based on unique viewing behavior. The result? More quantitative and qualitative traffic to the website, substantial growth in subscriptions and a reduction in SEA budgets due to a 270% growth in branded search.
5. YouTube impact goes beyond campaign KPI’s
Many are used to the standard metrics which clarify the performance of a campaign on TV. With YouTube, however, you can look beyond campaign KPIs, views, subscribers and reach. An example is Hyundai. They were able to generate real brand impact by using long form product reviews as ads. Their goal was to reach, captivate and convert the orientating electric car buyer on YouTube before the introduction of the IONIQ 5. And they did so with success. With their video strategy, Hyundai realized a growth in brand recall (+231%), brand preference (+650%) and an increase in the inclusion of the IONIQ 5 in the consideration set of 256%. With Team5pm Labs, we make the impact of YouTube on brand KPIs transparent using data-driven research such as eye tracking, thumbnail or video pretesting and more.
YOUTUBE ADVERTISING: THE ANSWER TO THE GRP MARKET
The popular video platform exploits the possibilities of Connected TV, offering flexibility, efficiency and creative possibilities. And the impact on important campaign and brand KPIs? It is measurable and concrete. All in all, five reasons why now is the right time to board the YouTube Advertising train. The answer to those rising GRP prices? YouTube, it is!
MASTER YOUTUBE ADVERTISING WITH YOUR FREE ADVERTISING GUIDE
90% of consumers say they use YouTube to discover new products (Thinkwithgoogle, 2019). So your prospective consumer is ready to be convinced by the right video content. That’s exactly the moment, where you as an advertiser want to be with your video! In our brand new white paper “YouTube for Advertisers” you will receive practical tips and tricks. It’s your free guide to a spot-on advertising strategy on YouTube.
Curious? Download the white paper here.