Marketing professionals understand that attracting their target audience is a crucial element of success. Sometimes this is easier said than done. Buyers are becoming increasingly sophisticated, conducting their own purchasing research, and being inundated with hundreds of pieces of marketing “noise” every day. In the always-changing digital marketing landscape, it’s critical for in-house marketing and creative teams, as well as external agencies, to create more ways to entice consumers to engage and interact with content.
A powerful tool in today’s marketing toolbox is the rich media ad. Offering up greater performance than more traditional ads, rich media is proven to amplify advertising efforts. Statistics show that click-through rates (CTR) for rich media ads outperform standard banner ads by a whopping 267%.
Rich media is gaining attention from companies who constantly look for innovative, new ways to reach their potential customers. Marketers are expected to shift their budgets towards more rich media advertising. According to eMarketer, categories like video and rich media will account for the largest share of digital ad spending in 2016 – a sum worth $30.4 billion. By 2019, with an estimated 68.1% growth, digital ad spending will total $44.6 billion.
What exactly is rich media?
The simple definition of rich media is any form of digital content that deviates from normal text and static images to offer end users a more enhanced and engaging experience. Where text ads sell with words, and display ads sell with pictures, rich media offers more ways to involve and engage the end user.
Google’s DoubleClick Studio defines rich media as “a digital advertising term for an ad that includes advanced features like video, audio, or other elements that encourage viewers to interact and engage with the content.”
Rich media lets marketers create complex ads that elicit strong user response. Using HTML5 technology, the ads can include multiple levels of content in one placement, such as animated elements, applets, streaming audio and video.
What are the benefits of rich media for marketers?
There are a variety of ways rich media is an asset to marketing.
- Greater interaction: Movement and uniquely laid out messaging steps above the din of web noise and keeps the viewer’s attention longer than traditional media.
- Increased calls-to-action: With video and other rich media, there is more than one place to offer additional, high quality information and social media engagement. This helps capture your audience’s personal information so you can begin leading them through your sales funnel in other ways.
- Track-ability: The technology behind rich media allows marketers to track the various levels of engagement and interaction, including important metrics like the number of expansions, multiple exits, and video completions. By combining these metrics, brands and agencies can measure the success of advertising campaigns and the return on investment (ROI) of their ad spending.
What are some examples of rich media?
Google offers a variety of rich media examples.
Are there challenges in reviewing and approving rich media content?
As with any strategy that requires input and approval from multiple people, creating and executing rich media can result in endless back and forth if proper processes aren’t put in place. Trying to wrangle stakeholders together to review and approve content is often a scheduling nightmare. Marketing teams and agencies waste time chasing down reviews and deciphering feedback through multiple, unorganized communication channels.
Not to mention — it can be a nightmare to grant individuals access to the staging site, causing overhead and the hassle of administration. Failing to overcome these challenges results in extended approval times and, frequently, an inferior end product.
Workfront helps marketers stay productive while having peace of mind, knowing that all feedback and decisions are captured in real time, directly on any type of creative asset—including rich media content like HTML5 banner ads, microsites, emails and more.
What is the future of rich media?
Since rich media is basically still in its infancy, it’s an open-ended question as to what degree rich media will change the marketing landscape. With the popularity of video and the increased expectation consumers have of faster! faster! information, its future looks bright. While it may not completely eclipse traditional, static forms of media, it’s sure to gain in popularity as a widely accepted mode of branding and engagement.