No one likes ads but, wait! Have you heard of rewarded video ads yet? They seem to be the people’s choice these days. So, what exactly are these rewarded videos?
These are ads that bring in a win-win-win situation for everyone in the mobile advertising space; consumers, advertisers, and publishers. These are predominant in the mobile games sector. Rewarded video ads are videos that a consumer can choose to watch in exchange for points, lives or other virtual goods.
Through these ads, the publisher can steadily monetise their property, advertisers can effectively communicate the brand messages and the consumers can move on with their games without having to pay or wait.
Besides being a beneficiary tool for all stakeholders, here are other reasons as to why these are a must try for advertisers:.
Why Rewarded Videos Work As Ads
- High opt-in rates: rewarded videos are the ad formats of choice considering the majority of the population believes in the F2P (Free2Play) model. The opt-in rate for these ads are close to 80%. (Source: Pocketgamer)
- High Engagement rates: Rewarded video ads have very high consumer loyalty and engagement rates of about 90% which means your consumers are not only watching your video but, also reciprocating to your branding efforts. Advertisers are adopting to this ad format because it out performs intrusive ads.
- Increased retention: Usually a gamer decides to give up after a few attempts at trying to succeed. Letting her/him opt in for a rewarded video at this instance in exchange for letting her/him continue with the game would ensure guaranteed engagement and gamer retention.
- High completion rate: Rewarded video ads cannot by principle be crossed out/skipped once the gamer has opted in. In addition to this benefit, if the video is optimised for time (max. 15 seconds), advertisers can reap an added advantage of high completion rates.
- Increases brand recall: Advertisers can customise their ads to suit the game interface and plot to attain maximised brand recall. For example: A hand sanitiser brand can promote its line by integrating rewarded videos at real life incidents which when happens in real would require one to sanitise their hands thus ensuring a high brand recall.
- Guaranteed genuine clicks: Considering these ads are integrated at instances where one is looking for incentives and the gamer opts in by her/his will, advertisers can take it as a given that this type of ad integration does not attract accidental/false clicks.
All this being said, it should now be clear that rewarded video ad is a clear winner in comparison with other ad formats. The best practice advisable is integrating rewarded video ads in combination with native ad placements throughout the game so that you are conditioning your users to your brand all through and this definitely results in promising results.