Findings from Adform’s Quarterly Media Barometer indicates rich media ads are three times more effective than standard formats.
Display advertising spend continues to increase, earlier this year, UK display grew by 13.4% to top the 1bn (£1.128m) mark for the first time according to the IAB, The growth is driven by bigger, more interactive and richer ads, and for good reason.
Already we’re seeing in this month’s Adform’s Quarterly Media Barometer (which measures consumer trends and engagement with online display advertising) audiences becoming desensitised to standard display advertising, with consumers now spending 74% more time engaging with rich media ads than they did in the previous quarter.
These recent findings mean that audiences are three times more likely to click on a rich media ad than a traditional banner format and an industry-wide move toward rich media solutions should certainly be anticipated. Interactive banners, which enable integration to different channels including Twitter feeds, retailers’ catalogues and YouTube videos are paving the way forward for online display.
This increased popularity of rich media ads also coincides with a six percent increase in online video advertising playtime, reinforcing the fact that nowadays consumers are demanding a far more stimulating online experience, and a bog standard static banner ad no longer cuts the mustard.
The need to embrace cutting-edge and stimulating rich media solutions in order to achieve a higher level of interaction comes as a stark warning to advertisers who have been slow to invest in engaging online marketing. As the majority of businesses have just about embraced the online world, with online solutions a regular fixture on campaign schedules, for most, the creative element has still yet to reach its full potential.
Gustav Mellentin, CEO at Adform comments,”A number of key innovations are coming to fruition in online display advertising from real-time bidding and rich media to dynamic creative optimisation, and better mobile and social integration. Where some advertisers are clearly reaping the rewards available to them, many more advertisers are missing out on the opportunity to optimise their campaigns.”
Adform’s findings are a clear indication that if we want to keep consumers switched on, a revamp in the creative approach to online display is now necessary.
Adform’s Quarterly Media Barometer results are summarised in the infographic below:
