Twitter has just added its name to the fast-growing lists of social media and websites offering users video-related ads. The company on Tuesday announced a new ad format called the Video Website Card. According to Twitter, the new format will combine the power of video with the ability of getting users to visit a site to learn more or take action.
It’s a new format that’s being adopted by a growing number of social media websites including Instagram and Facebook. The fact that Twitter is embracing the new formats shows just how important it has become especially in driving ad revenue of so many other companies out there.
“The Video Website Card is designed to work across a variety of brand objectives, as well as in the gray spaces that often exist between objectives. So whether a brand is pairing the Video Website Card with the high reach of First View to announce a product launch, inviting travelers to click through to learn more about a featured destination, or showcasing game play to drive advance sales of a new video game, the Video Website Card removes friction for the consumer to engage, learn, or convert at their own rate,” the company said today.
What’s Twitter’s new Video Website Card all about? The new ad format according to Twitter’s short description, features an auto-playing video, a customizable headline, and destination URL paired with a large tap target.
If you are an advertiser, the newly launched feature gives you the option of choosing to run the video ad format on the video views, website clicks, or awareness objectives to optimize and pay for the action they care about the most.
“For example, a movie studio that wants to launch a new movie may run the Video Website Card optimizing for video views on the trailer early in the campaign when their primary goal is driving awareness, and optimize for website clicks later in the campaign when the movie is in theatres and their primary goal is ticket sales.”
How does the new ad format benefit business?
According to Twitter, the new video-centric ad format will enable businesses to showcase their brand’s value, product, or service before a person clicks through. Test so far carried out showed that the video ad format recorded a 2X higher clickthrough rate than the industry benchmark for mobile video ads.
Perhaps, the biggest challenge being faced by brands today is keeping consumers engaged. According to beta test carried out among select testers, the Video Website Card had an average 60% increase in user retention over industry averages.
In other Twitter news, the company is currently testing a new tool that will allow users to save tweets that can be read later. Twitter’s head of product Keith Coleman tweeted this a couple of days ago, claiming that the bookmarking tool has been hot in demand. What this means is that heavy readers like myself will be able to bookmark tweets in a dedicated section to be read later. It’s a really exciting addition if it does get the green light at the end of the day. Imaging not having to dig for tweets that excited me while reading them.