Video promotion has a prominent role in expanding your business and targeting audiences from different geographical locations. With the advent of the Internet and visual communication entertainment, people are showing more interest in videos that help them understand a product.
The majority of the customers are now accessing YouTube for consumer products, reviews, and product performance before purchasing. It provides more in-depth information about a company’s product, customer support, and spare part availability. Companies are focusing more on improving quality and delivering what customers are asking.
You can promote a video on YouTube, the largest video content site on the Internet. With over a billion people accessing the site every month, targeting and achieving a high conversion rate of customers is possible with the right promotional advertisement. YouTube video promotion cost changes from one ad to another, and according to several factors, you choose to display the ad.
Why Promote On YouTube?
Firstly, YouTube is the only website having an extensive user database with at least twenty-five hours of video uploaded every five seconds. Even though you are marketing your product through traditional means and other digital formats, you may not be reaching the target audience, who often search for videos that explain a product, the functioning, and relevant information. It helps them pick your product over the competitor and make a purchase.
Secondly, unlike the large companies in the market, who spend a fortune on advertising to capture the audience, you may not have the resources to advertise in such a large capacity. Choosing video promotion becomes a cost-effective medium because of the limitation of the funds that you can invest in promoting your product/service.
How Much Does It Cost To Promote On YouTube?
Promote video on YouTube cost varies from one company to another. With each company having set aside a specific portion of marketing funds, limiting the value to a particular figure is not possible. You must know that you must pay for promoting your advertisement on YouTube.
What changes is the type of advertisement you select, the format, the length, and other such factors. YouTube provides various options to choose from for an ad. Therefore, it is challenging and helpful to promote your product and target the audience.
Each time a user views your advertisement or clicks the same, you will be paying the prescribed amount to the platform. You can choose between paying for a view or a click. Generally, opting for paying for a view is reasonable, as you could convert the viewer into a potential customer.
On average, you will spend around $0.20 per view or click. It can vary further depending on the daily budget you set to promote your video. Let us suppose that you put your daily budget at $10 with a pay per view value of $0.10. Then, a total of 100 views are available before you recharge, or YouTube stops making your ad appear in a search or video.
The cost that you intend to pay for a single view relies on several factors. The primary is the audience. If you are targeting those targeted by your competitors, you will pay more per view. However, the total amount will never be higher than the daily budget. You are likely to pay a cent or two more than your competitor. Additionally, it is the quality of the content and relevance that also counts in the advertisement’s pricing and appearance.
Elements Determining The Cost
Now that you understand the average price you will spend promoting on YouTube, it is time to look at the elements that drive the cost. The interesting ones are:
- The ad types
- The bid prices
- The bidding selection
- The targeting options
They have a direct impact on the pricing of your ad. For example, your pay per view’s bid price has an immediate effect on the price than your bidding selection factor.
The Advertisement Formats
Apart from the factors that influence your YouTube video promotion cost, the ad type you pick for the platform’s appearance also affects the pricing. As a thumb rule, you will pay more when occupying more ad space for increased exposure.
It is crucial to pick the right format ad that ensures viewer interest. Based on the amount that you can spend, decide the one that suits your business needs from the following:
- Display ads: Your ad will appear to the right side of the running video (desktop platform only)
- Overlay ads: these appear on the lower 20% of the video and semi-transparent in nature. It can be a video or text.
- Skippable ads: the ads will appear before, during, or at the end of the video. People can skip the ad after 5 seconds.
- Non-skippable ads: Users must watch the video to see the video. The video length is between 15 and 20 seconds.
- Bumper ads: Viewers must watch these short six-second videos that appear before the start of a video.
- Sponsored ads: Viewers will see ads based on the content they are watching.
Targeting The Audience
For every advertisement you like to post, you can control all the settings and target according to the requirement using the Target tab. The functionality is like that of AdWords. The features allow you to choose the people at which you like YouTube to show your advertisement. Promote video on YouTube cost will be less when you try to focus on the correct people. It will further ensure that the right people are clicking your ads and increasing the click rate for your campaign.
Running a campaign on YouTube may sound simple. However, there is enormous data that you can study and alter your campaign to reap benefits. It would be difficult to monitor the changes if you do not have a competent team and have the experience to handle online promotion.
Monitoring helps change the campaign’s course, learn about the user’s requirements, the videos they are watching, the age group, geographical location, and much more. Consistent monitoring will further reduce the cost, as you will be targeting only those at the bottom of the marketing campaign and ready to decide to buy your product.
The statistics that you will receive contain an enormous amount of data, which you can use to target the right group of people. If you do not have a marketing team or have no experience handling such promotions, it would be useful to partner with an experienced agency. Such agencies have all the elements, from talented professionals to tools to monitor and analyze the data.
Creation Of The Video Ad
Given the criticality of the time and the amount you spend per view, it is essential to tell the right message to your customers within the first five seconds. If you can captivate their interest, you can expect them to click on it for further information.
Several factors head into the creation of the video, and the foremost is the quality of the video. You must create a high-quality video to intrigue your audience. You do not want them to look at a low-quality video. Plus, unlike a live T.V, the skip button’s presence allows them to skip it instantly in five seconds.
You can benefit from video promotion by partnering with a media agency. You will not only reduce the cost but also target the right customers, thereby increasing the clicks. Thus, the YouTube video promotion cost falls within your budget and does not scale up over the period.
Moreover, with the agency taking care of the entire marketing campaign, you can improve your business and its exposure to cater to more customers.
Key To Optimization
The key to success lies in the level of return you must expect from the YouTube promotion. Keeping the eyes open and adapting to the situation is crucial to make necessary changes. However, if you are partnering with an agency, they will take care of the entire task. They will optimize the events according to the data collected and proceed with the exact plan to improve the exposure.
The strategies they implement involve optimization of campaigns, understanding the statistics, and monitoring the activity to check whether people are finding your advertisements compelling or not. Based on the input, they change the course, revamp the videos, and improve the quality of the content to suit the people’s needs.
As you understand promoting through YouTube, is time to implement the same. However, watch over the money that you are spending on your ads. Ensure that you are within the budget and not over-boarding. You do not want to overspend which brings no results. With the right marketing agency working for you, you will have all the reasons to see positive results within a short period and continue to grow.
Choosing YouTube for video promotion is an excellent step. The options provided help in improving the exposure required for the business to garner more leads. You will reduce the marketing capital and earn more audiences with the appropriate action.