- Instagram's video engagement far outpaced other social media platforms at 16%, compared to parent company Facebook's 1.5% and YouTube's 0.3%, according to a report released last week by benchmarking firm L2 Inc. Based on total views, however, Facebook led the way with 18.8 million, followed by YouTube at 14.8 million with Instagram trailing at 5.2 million.
- For brands looking to boost reach, Facebook is the best platform, according to the report, while YouTube brings slightly better organic view rates. "Intelligence Report: Video 2017" also saw a ripple effect of TV advertising leading to higher organic interest on digital channels.
- The report analyzed 60,000 videos and 293 video campaigns for 201 brands across social media, mobile, website and television viewing habits.
L2's latest report emphasizes the importance of strategic ad spend for maximized online engagement. Clearly, social media platforms have emerged as critical components of effective digital video strategy, but marketers should consider the distinct user behaviors and challenges of each platform, such as varying audiences, formats and other platform-specific tendencies.
Last month, the Interactive Advertising Bureau released a survey that found two-thirds of smartphone owners use their device every 30 minutes or less, while 22% tap into their phones every five minutes. The survey also reported that 90% of smartphone users recall seeing mobile ads within the first few days after the ad was originally shown, while 86% recall ads from mobile apps, the survey found. About half of respondents said they took action after seeing mobile ads, demonstrating that they're an effective marketing medium, as consumers are becoming increasingly reliant on their wireless devices for gathering news, information and entertainment than other electronic media. This steady shift to mobile signals that marketers would be remiss to overlook the impact of social media videos on conversions and brand awareness.
Similar research supports much of L2's data. Last month, WPP's Kantar Worldpanel and Facebook released a joint study that found a 29% lift in conversions when consumers were exposed to brand messages on both TV and Facebook. That report also found that TV spots brought a 4.7x greater household reach than Facebook alone, although Facebook ads were 1.9x less expensive. This, coupled with the cord-cutting trend of users shifting away from TV and toward digital, creates a significant challenge for marketers looking to optimize reach with limited ad dollars.