ProgrammaticYouTube Is Launching New Ad Formats and Ways to Measure ThemUpdates will let users research and make purchases during a spotBy Ronan Shields|October 1, 2018Getty ImagesShareBy Ronan Shields|October 1, 2018ShareYouTube has announced that it will soon offer “extensions” to its TrueView ad formats that will let audiences research and even complete a purchase without having to leave the platform, as well as the addition of market research company IRI to its Google Measurements Partners program.It is also planning the introduction of new tools within Google Ads or Display & Video 360 that will let marketers conduct brand lift studies within the platform in real time. This includes the introduction of two new metrics (“lifted users” and “cost per lifted user”) which they can then use to adjust how they evaluate media placements.The planned YouTube updates work similarly to existing features available in search ad formats with the video sharing network currently beta testing extensions that let viewers research the location of a business and generate more qualified sales leads by submitting contact details, etc. from within an in-stream ad.Vishal Sharma, YouTube Ads, vp product management, made the announcement in a blog post, where he said, “Now we’re exploring additional use cases that encourage viewers to complete lower-funnel actions like finding the next movie showtime, downloading an app or booking a trip.”Brands including Chili’s, 20th Century Fox and L’Oreal-owned Maybelline have participated in early trials of the YouTube ad formats with pan-European telco Vodafone reportedly achieving an incremental lift in ad recall of 2.3x and a clickthrough rate (CTR) of 3.5 percent in such tests.Speaking with Adweek ahead of the announcement, Tara Walpert Levy, YouTube’s vp agency and brand solutions, spoke of the platform’s desire to position its advertising offering as a platform to both their performance and brand marketing goals.She added, “I think our clients have always wanted to achieve both their brand goals and performance goals simultaneously. At the end of the day, they have one budget and one customer that’s the same person who’s not splitting their head into ‘you know what? I [would] like to be made aware’ or ‘I would like to buy something today’.”However, now that consumption on YouTube is gaining serious traction—audiences on the platform are generating more than a billion hours of watch time daily—and with developments in measurement technology, the digital media giant can offer marketers tools to achieve both sets of goals.Walpert Levy referenced audience studies noting how 60 percent of participants searched for a product on the Google search engine and then further research the same item on its video site YouTube before eventually buying an item.“It’s actually doubled year over year … I think this backs up why this [roll out] is so important, YouTube has an interesting straddle between entertainment and information, which is pretty unique in the marketplace,” she added.Attributing online spend to off-line purchaseYouTube has also made efforts to help advertisers better understand how their YouTube media spend is affecting offline actions and its latest updates include efforts to woo big-spending CPG advertisers.This includes adding offline measurement specialist IRI to its Google Measurement Partners program–Oracle Data Cloud and Nielsen Catalina Solutions (NCS) already participate–helping marketers better attribute online spend to offline actions.“They are one of the three big a measurement partners that our CPG clients ask for,” said Walpert Levy. “We’re seeing over 70 percent of YouTube campaigns are driving a significant lift in offline sales.”She also said the upcoming ability to conduct brand lift studies in Google Ads or Display & Video 360 was borne out of advertisers’ demand for a hybrid solution that could help them track business performance (such as conversion rates and sales lift) as well as more traditional marketing KPIs.“In particular it was really interesting because some CMOs and agencies were concerned that there’s such a natural appeal to go in straight for the data that comes off some of the lower funnel metrics,” said Walpert Levy.Continue ReadingPages: 1 2 Adweek Adweek