For many brands entering the arena of advertising, they are looking to weigh up their options for where they can drive the best engagement to lead to the highest possible ROI. Platforms such as Facebook have historically been a main port of call for brands looking to expand their online presence, especially on social media. Although cost per lead has risen on platforms like Facebook and with traditional PPC, YouTube has had some of the lowest costs for entry while providing quality leads. It is no surprise that more brands are seeing how they can benefit from being an early-adopter of YouTube advertising.
When it comes to Cost Per View (CPV), YouTube has some of the lowest rates online. On platforms like Facebook you could look at spending £10+ per lead and with other social media and PPC methods this could increase much further. As YouTube employs several practices for their ad delivery, advertisers get a much better deal when it comes to putting their content in front of their target audience. As a result, the average CPV on YouTube is pennies which is why it is so effective for those looking to employ a conservative ad strategy.
This is not to say that YouTube is only for those who are looking to conserve budget as the campaigns are highly scalable on YouTube. Furthermore, as YouTube plugs into Google’s algorithm, it will recommend alternative bidding strategies based on budget in order to drive optimal levels of action from your target audience. With this machine learning algorithm, it greatly reduces wasted costs on advertising and fully optimises your ads strategy which very few other platforms are able to do.
Costs are also cut due to the highly targeted audiences that exist on YouTube. With the massive scope of audience profiling available through YouTube advertising, advertisers are able to really hone down on their consumers. This helps to save on wasted costs of advertising reaching those who will never likely convert as leads. Furthermore, by targeting these groups the machine learning of the system better understands how to serve you adverts and where they most effectively can be placed in order to promote the desired action. For advertisers, this information and adaptability of the platform is such a key reason to run advertising campaigns on YouTube.
How have you seen where you could be cutting costs by advertising on YouTube?