Facebook Gives in to Advertiser Pressure
Facebook has given advertisers worldwide the option to bid for 10-second video views on a cost-per-view (CPV) basis, making a change from the previous 3-second option.
The social media giant made the decision to regain advertisers’ confidence, who were concerned that their message could not be put across effectively in the shorter time period. They had previously been getting charged after three seconds of play, as Facebook counts this as a video view, which advertisers didn’t feel was enough to time to fully absorb their content. The advertisers now have the option to bid for an advert that they will only pay for if it has been watched for at least ten seconds.
To gain the trust of advertisers in its PPC system, Facebook enlisted the help of marketing research company Nielsen in March, to show that even short video views can improve brand lift. They found there was an increase in people remembering the ads, appreciation of the brand and contemplating purchase, even for people who viewed the video between zero to three seconds.
However, advertisers were still not persuaded, which forced Facebook to trial the new 10 second video adverts from June, based on a CPV system, although they stress they don’t believe this is the best option for advertisers; “We don’t believe it’s the best option in terms of capturing the best value and brand objectives marketers care about, but we want to give them control and choice over how they buy.”
This new form of Facebook PPC is sure to be seen as a victory for advertisers who have long campaigned for it, but only time will tell whether it will reach their intended goals.