While video’s function in advertising has historically been for branding, it’s now possible to track its impact on sales.
While television has been a kind of black box in terms of available insights into how a campaign has actually performed, “now digital closes the loop,” observes Oren Harnevo, CEO of Eyeview, a video ad platform, in an interview with Beet.TV.
Harnevo says Eyeview, founded in 2007, has been able to deliver 600% ROI for one retail customer (meaning the amount of in-store sales generated by the video campaign was six times greater than the amount invested to develop and distribute the ads.) For CPG and travel brands, he says Eyeview has delivered 300% ROI.
“Everything starts with data,” Harnevo says, and Eyeview can create hundreds or even thousands of different permutations of an ad for different audiences, personalized based on factors like their location, shopping habits and browsing history. Then, working with a third-party provider of shopping or purchase data like Catalina or MasterCard, it can convert those cookies and tie them back to actual sales.
Eyeview works with brands to customize existing video creative or create something from scratch. The personalization focuses largely on audiences’ prior knowledge of and affinity for the brand.
“If we know someone has visited a site and looked to buy a specific shoe, a five-second ad on Facebook just telling him about the shoe again is going to be amazingly relevant, whereas if someone doesn’t know the brand, a 30-second ad would work better,” Harnevo says.