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SocialVibe: Incentivized ads capture most consumers attention
If you think offering an incentive for consumers to watch or engage with a brand's ad doesn't work, think again. A new report finds that incentives work to first get consumers to engage and then to act on that engagement in some way.
The study, from KN Dimestore and SocialVibe found that incentivized ads help to engage consumers with brands.
"The value-exchange approach works to impact every stage of the purchase process," said Benjamin Theriault, vice president of Sales at KN Dimestore. "The study results exceeded what we anticipated - these ads delivered very strong results in brand lift and the response rates were some of the best we've seen."
According to the report:
48% of those interact because of the incentive but pay attention to brand
12% interact purely based on brand
31% interact for brand and incentive
9% interact purely for the incentive
For the brand, incentivized ads were found to increase brand perception (38%). Incentivized ads were also should to increase purchases and conversions. For example one campaign, for a movie, offered consumer virtual game currency for interacting with an incentivized ad. Nearly one-third (32%) of those exposed to incentivized movie ads purchases tickets that is a 22% lift over those who did not complete the engagement.
"There's been a debate around value-exchange advertising that stems from an unfounded assumption that consumers looking for the incentive will merely 'sit through' an ad simply in exchange for the benefit," said Jay Samit, CEO for SocialVibe. "The KN Dimestore study shows without a doubt that not only does incentivized advertising work, it works better than any other form of brand advertising out there."
The report goes on to indicate that gaining a consumer's attention through an ad that is interesting or of value to them - earning points, virtual currency or some other reward - helps to 'get them in the door'. Once through that door the advertiser or brand must continue or increase that initial engagement to conversion.
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