2010 has been a big year for online video, with brands beginning to leverage and recognize its power and reach, and experimenting with more campaigns. If you look at the mobile industry, for example, social video views grew 170 percent in the third quarter alone.
Continuing to lead in measuring these online video views, Boston-based Visible Measures just released a consumer brand preference metric called Share of Choice. The measurement solution targets brands interested in measuring their video content’s receptivity and effectiveness with consumers. With growth skyrocketing and given online video’s relatively nascent market, brands are most interested in comparing their video effectiveness against competing brands in the same sector. Share of Choice does just this, providing one, simple metric that indicates how often consumers choose to watch one brand in video over others. Below provides an example of a timeline of share of choice in the mobile technology industry over the last year (read the full Share of Choice report here):
Visible Measures, founded in 2005, is a third-party firm serving both advertisers and publishers around online video measurement – a medium showing both higher engagement and brand awareness than other online mediums like rich media or flash-based ads. In fact, a recent study revealed that video advertising leads to purchase intent for 1.4 percent of all ad views – a number that continues to grow and proves more effective than other mediums.
The Share of Choice measurement solution is the only measure of advertising that consumers choose to watch, as opposed to television ads for example, since the advertisements are the brands content. Serial entrepreneur and CEO Brian Shin remarked of the opportunity, “Leading brands have recognized the unique opportunity online video provides to drive purely voluntary, self-initiated interactions with consumers. … When consumers can watch whatever content they want and still choose to watch and interact with a brand advertisement, it demonstrates genuine brand interest and preference.” Share of Choice is critical in helping advertisers understand the brands consumers are choosing to watch.
Visible Measures’ Share of Choice solution is priced on an annual subscription basis for brands and advertisers. Their industry reports cover Alcoholic Beverages, Apparel & Accessories, Automotive, Community & Activism, Electronics, Food, Health & Beauty, Male Personal Care, Mobile Technology, Non-Alcoholic Beverages, Quick Service Restaurants, and Telecom.
Visible Measures’ website is filled with interesting (and free) video metrics — their weekly Top 10 Viral Video Ads chart is a BostInno favorite.
