Why Rich Media Ads Should be a Part of Your Marketing Plan
In the current Web 2.0 world, digital marketers have a vastly improved toolkit to deliver ads to prospects over the internet. Part of the evolution from Web 1.0 to Web 2.0 was the welcomed change from static websites to interactive websites, inviting the user to participate.
There have been many beneficiaries of this change, including advertisers. A new format for advertising called Rich Media entered the fold offering an interactive display, inviting users to participate to learn more. Naturally, this inviting display has led to more engagement by prospects than the bog standard static display. In a Media Mind 2014 benchmarking report, CTR was 31% higher for Rich Media ads over Static Banner in North America. It is a growing belief amongst digital advertisers that Rich Media ads deliver more creativity and thus better results.
But wait you say, what exactly is rich media?
This handy-dandy compare and contrast image should help with your basic understanding of Rich Media and how it contrasts with Standard Banners. Two big takeaways from this graphic are that Rich Media is interactive and dynamic, changing depending on what kind of attention a user gives it, and secondly, this graphic is static. Isn’t it boring? Wouldn’t it be so much better if when you rolled your mouse over it David Attenborough richly proclaimed the advantages of Rich Media over Standard Banners? We'd certainly listen to that! This extra layer of creativity and attention grabbing interaction is a proven way of driving engagement with prospects.
Now that we have established the basics of Rich Media, it is important to highlight the added benefits and discuss exactly what type of engagement it drives. People are naturally more attracted towards things that move (not too unlike dogs!). Rich Media offers that movement, flash, pizzazz, etc., which catches the eye. This increases the engagement rate as users are motivated to interact with an item that is responsive rather than flat. Users are rewarded with a better experience when interacting with rich media ads. In turn, advertisers are rewarded with access to informative tracking data and higher performance levels. Marketers can expect potential prospects' interactions with rich media to drive brand engagement, provided the rich media warrants that result.
In the end, achieving a balance between static and rich media is important. Below are some key differences between Rich Media and static banners and considerations to keep in mind.
- Static banners are best used for CPA campaigns as using CPM can lead to over-payment
- Rich Media can be used for CPM campaigns as they tend to show higher CTR’s than strictly standard
- Rich Media ads allow for greater tracking
- Standard banners typically only measure clicks and impressions
- Rich Media allows the insertion of video which then could be measured for rate of completion or percentage of video viewed
In the end, continual campaign optimizations through research and insights deliver the best results. BKV's philosophy is to continually test and optimize to drive the highest possible ROI for our clients.