We know that your audience matters to you (a lot). But do you know what matters to them? Find out why YouTube is people’s favorite platform for watching videos and why it should be yours if you’re looking to drive business results.
In a year marked by uncertainty, we know with certainty that video has become an essential resource for people to adapt to new ways of working, learning and being entertained. It has also become an essential channel for brands to increase their digital presence in the new context. Long before the pandemic, marketers already knew the power that video represents in the purchase funnel. But, in a scenario where multiple online broadcasting platforms coexist, in addition to traditional TV, the new question that specialists must ask themselves when optimizing the budget available for their video campaigns is: why do I have to be on YouTube?
Here are 3 reasons to discover its potential in your marketing strategy:
- Masively personal
Video is an integral part of people’s lives, and YouTube, the favorite platform for offline and online video users to watch what they are interested in and passionate about. In fact, 86% of video content users in Latin America say they have increased their YouTube consumption since the pandemic. What makes it so magnetic? According to a recent study conducted by YouTube and Talk Shoppe, the diversity of content and creators it brings together allows each user to go there with a different objective -some to learn, others to be informed or entertained- and always find what they are looking for. This means that 69% of YouTube users in Latin America value that the platform offers them content that is personally relevant.
86% de los usuarios de contenidos de video afirma haber incrementado su consumo de YouTube desde la pandemia.
2. Be where the audiences are
Be where the audiences areA recent study confirms that being present on YouTube brings benefits: for example, a user in Latin America is 1.7 times more likely to search for information about brands, products or services on YouTube than on another platform, and 1.8 times more likely to watch a related video on YouTube than on other platforms before buying a product. And here’s a key fact when designing your strategy: sponsoring videos from other creators also has advantages. 37% of Hispanic American YouTube users say that content sponsored by brands makes them more likely to buy that brand.
So if your potential customers are on YouTube, how can you make sure you reach them? Thanks to YouTube’s customizable strategies, you can determine who your ideal customers are, get help finding the right advertising mix, and make adjustments as you go. This way, venturing into this digital channel is low risk.
3. From research to action
Now, if users are turning to YouTube for research before deciding to make a purchase, what is the real business impact? Beyond benefiting brand building and brand recall, video can be a powerful performance driver. For example, in Mexico and Colombia, 7 out of 10 YouTube users reported buying something after watching sponsored or branded content in a YouTube video. And to back up these encouraging figures, we entrusted Nielsen to conduct a Marketing Mix Model (MMM) meta-analysis, a proven method used by leading brands to measure the impact of their cross-channel marketing strategies and thus guide budget decisions. The results confirmed that, on average, YouTube’s effectiveness was 2.6 times greater than TV’s effectiveness in those MMMs of consumer packaged goods brands that measured YouTube, other digital media and TV in 2016-2018.
If you are looking to maximize the impact of your campaigns and optimize the budget allocated, the secret lies in being present on the right platform. In that sense, the diversity of creators and content on YouTube offers brands a unique opportunity to reach their customers massively with a very personal and direct communication at the right time, when they are attentive and willing to listen to achieve the results you expect.
Pablo Castellanos.
Marketing and Market Research Manager, Google Mexico & Colombia
Sources
Google/Talkshoppe, Why Video Study, Mexico, Argentina, Chile, Colombia, Peru, August 2020, n=9,989 users of online and offline video content 18-64.
Nielsen MMM Meta Analysis, 2016-2018. YouTube effectiveness was $2.21 compared to TV effectiveness of $0.84. Base: a list of selected studies compiled by Nielsen, consisting of all available CPG studies completed in 2016-2018 containing results for YouTube, other digital media and TV. This list includes 94 studies for Spanish-speaking Latin American brands across all CPG categories. Offline incremental sales measured for TV represent the average across all TV broadcasters. Effectiveness is defined as total incremental sales per 1000 impressions (in USD). Studies where any of the channels had fewer than 500 impressions were excluded. Effectiveness numbers quoted are averages weighted by impressions across all studios for each channel.
