Facebook has been increasing its video content features in an effort to compete with rival YouTube. And that includes Facebook video advertising. As a next logical step in Facebook’s video march, the company has now launched a new option for advertisers to bid for 10-second video views on a cost-per-view basis.
The cost-per-view (CPV) bidding is designed for advertisers “who value price certainty for video views or value video views as their primary performance metric,” and is now available globally.
Facebook still recommends advertisers use its brand buying capabilities, “which include reach and frequency buying and auction optimized for video views (oCPM), as the best methods of buying optimal reach and driving brand impact.”
Things to Remember About Facebook Video Advertising
Facebook says it understands that delivering a brand’s “full message” is important for advertisers. That’s why those who value view duration should opt for CPV bidding.
It also adds that like other auction buys, CPV bidding will not have the predictability and control that a reach and frequency campaign will have.
For most brand marketers, auction optimized for video views, the brand awareness objective and/or buying via reach and frequency are the most optimal bidding options. According to Facebook, these are the best ways to both predict and control delivery, which improves brand metrics and maximizes ROI.
It’s important to note that CPV is available to advertisers only through the video views objective and auction.
The Attempt to Attract More Advertisers
Facebook’s experiment with video bidding options began in June when it started testing a new way to charge advertisers.
A Facebook spokesperson told the Wall Street Journal at the time that while the 10-second ads are not the best way to invest in Facebook advertising, the company wants advertisers to have more flexibility. “We don’t believe it’s the best option in terms of capturing the best value and brand objectives marketers care about, but we want to give them control and choice over how they buy.”
Since then, Facebook has been focused on offering more value to advertisers who use the site for video ads. Apart from paying attention to the number of likes, comments and shares, Facebook is observing whether a video’s audio has been enabled or if it has been viewed in the full-screen mode.
The social media giant is still firm that even very short video impressions influence brand awareness, ad recall and purchase consideration. But it’s certain that advertisers will welcome this new move to boost ad visibility and make the most of Facebook’s reach and popularity.
Auction Photo via Shutterstock