Facebook recently announced its expanded video ad metrics. The social media giant has yet to release the full list of available metrics, but Facebook did let on that expanded metrics will include: video views, unique views, duration of views, and audience retention. Facebook has yet to reveal the full list.
These expanded metrics will prove beneficial to advertisers, especially after Facebook’s introduction – to the disdain of many users – of autoplay on videos. Currently, a user can scroll through his or her News Feed and a video will play automatically, though without sound. For companies, autoplay has probably skewed ad metrics in terms of video views – just because a video has started to play, doesn’t mean the user watched the video. (I often run into this problem myself: I’ll be innocently scrolling through my News Feed, only to hesitate a split second too long, then BAM! – before I know it, the video is playing and I’m frantically trying to pause or stop it.)
Although Facebook has been testing its video ad platform for a few years now, it is only now opening the platform to a select group of companies. However, the chosen companies are not guaranteed ad space; Facebook’s creative team must approve all video ad submissions. It is reported that up to 15 advertisers are on a waiting list to post video ads.
In addition to being at the mercy of Facebook’s creative team, video ads could cost companies around $1 million PER DAY. Even considering Facebook’s 728 million daily users, a million dollars seems like an excessive amount of money to spend on a video ad that’s not even guaranteed to be viewed.
What are your thoughts? Will video ads cause ad fatigue thanks to Facebook’s autoplay feature? Will advertisers see a worthwhile ROI? Feel free to share your feedback in the comment section.