BENEFITS OF YOUTUBE ADVERTISING FOR SMALL BUSINESS
You have a great product. Your team has also put together and made a video that showcases your product/service in all its glory. It’s on your site. But where and how else can you use it?
If you are a business owner, chances are, you are thinking if Youtube advertising makes sense for you. And if you are a small business owner, your worry is not beyond the platform making sense for you, especially costs. You may have assumed that the costs of getting on Youtube are a barrier in itself. You might have seen the big global brands and you might be wondering if a small brand like you can afford to get on Youtube, if there will be return on investment and if you will be able to reach your desired set of audience.
Let’s take a look at some key facts first.
- 2 billion users worldwide
- 79% of internet users have a Youtube account
- Ads on Youtube received 62% more attention than television ads
- 1 billion hours of watch time everyday
- 500 hours of video are uploaded to YouTube every minute worldwide
Those are numbers unparalleled even for the king of Social Media, Facebook. Let’s look at some reasons why Youtube makes sense for a small business owner.
Youtube has the potential to reach the largest audience in the world. The platform clocks about 1 billion unique users every month. Thats 14% of the world’s total population! And nearly one third of internet users. It’s the second most popular search engine, after its parent company, Google. The fact that it’s being used not only to consumer entertainment but also solve problems makes it a popular channel for users to be.
With that kind of reach, Youtube provides a plethora of targeting options. Your ad can be targeted basis search, competition, relevance, demographics and interests. You also have the option to target through keywords and topics, even choose the websites on which you would want your ad to appear.
If you are a small business, your constant worry is cost. The sheer size and reach of Youtube may make it appear to be an elephant you cannot feed. But here’s the thing. For a bumper, the costs are as low as 10 or 15 paise per view. They are bought on CPM or around INR 80-120. It’s a good place to start considering the platform also allows you to target more specifically than traditional marketing mediums such as radio or television. What if a viewer skips viewing my ad? Well, then you only pay for the ones that see. If the viewer skips the ad, business does not pay. YouTube doesn’t charge an advertiser for the first five seconds.
Just like its parent company, Youtube also has Youtube Analytics. Like all marketing campaigns, knowing your objective will be crucial. What is it that you want to achieve- Awareness, consideration or action? Key performance indicators of a campaign includes views , view rate, cost per view, CTR, Engagement and more. Honestly, we can write an entire new article on how to measure a YouTube ad campaign. What we are trying to say is that it is one of the most effective advertising platforms.
What YT does is gives you a chance to reach your potential customer anywhere in the world with a significantly lower cost compared to other mediums.
If you are a small business owner keen to use the power of Youtube to reach your audience, reach out to Artemedia Tech. One of our experts will make it easier for you.
Source: Datareportal, 2019, Youtube 2019