The Benefits of 360 Video on Facebook
August 16, 2016
Facebook’s new 360 Video Ad unit is much more than a fun branding toy- it’s a new storytelling format that can bring viewers to a deeper level of a brand’s narrative, allowing them to “enter” the world of that ad. Ampush has long found that video ads can boost performance by better showcasing the value prop of a product or by enabling a brand to tell a richer story (before-and-afters, greater detail on product variety, etc). Traditional video units stand out from text and photos within the feed, earning them higher levels of engagement. With the increase of these traditional videos on Facebook, 360 Video Ads are the new way to have your ad stand out within the feed. Read on to see how standing out and capturing your audience’s attention drives excellent bang for your buck!
Lowering The Cost of Reaching Your Audience
360 Video Ads are mesmerizing, interactive, and unique- all of this means they tend to engage audiences more than standard placements (static images and traditional video units). Higher than average levels of engagement signals a greater degree of relevancy, which results in better delivery at lower costs. By utilizing a newer ad product that gets more attention in users’ feeds, it will be easier for your ad to beat out others in the Facebook auction. One of our travel partners saw a 51% increase in engagement rate and a 15.6% decrease in CPM from utilizing 360 Video Ads.
360 Video Ads also benefit brands from the novelty factor. Ampush typically sees more comments, likes, and shares for 360 videos than any other creative type. Ampush Analysts also note that the comments tend to include viewers tagging their friends, a secondary form of sharing. This “free” organic boost pushes your message further and also brings in new eyes to your brand’s message while capitalizing on some of the benefits of positive word-of-mouth.
Lowered costs at the top of the funnel can impact down-funnel acquisition costs via straightforward overall reduced costs and by improving brand awareness which typically results in viewers converting more readily (with less touch points required).
The Ampush Approach
Here are a few of the impactful use cases of 360 Video Ads:
Increasing Brand Stickiness: Think of this as turbo-powered branding campaigns. 360 Video Ads not only present the opportunity to immediately capture a viewer’s attention, but also to create a memorable experience (especially if they are so impressed that they are moved to share it with friends or family). Moving from mere in-the-moment branding to brand stickiness means your viewers will have higher levels of brand recall and recall of your specific ad message.
Additionally, 360 Video ads present an incredibly unique and interesting way to complement your other branding efforts by presenting a behind-the-scenes or more immersive ad experience for a pre-existing campaign. You can take your audience “into” the ad scene depicted in your more traditional placements.
Driving Efficient Retargeting: 360 Video Ads drive more views than traditional video ads, which means larger retargeting pools. Typically, the larger the audience size the more efficient your ad spend will be!
Driving Actions: For certain types of brand partners including travel, rewards credit cards, and entertainment, 360 Video Ads present an unprecedented opportunity to showcase their offerings and compel viewers to take action. Text can be added to 360 Videos to add additional messaging and CTAs beyond the ad units’ CTA button and copy.
As it’s still early on in the days of 360 Video, brands should expect above average video production costs. However, adventurous brands could take a look at Facebook’s Surround 360, which is now open source, for a DIY solution.