SAN FRANCISCO, CA – MARCH 13, 2018 – With the rise of 360° video technology, advertisers have the opportunity to create fully immersive videos that promote brands far beyond what a traditional non-360° video can achieve. To help advertisers understand the potential value of this new technology, MAGNA partnered with YuMe to put 360° video ads to the test.
Key insights include:
- Consumers are eager to experience 360° video even when created by brands. However, they have high expectations for fun and excitement, which were reported as the top reasons for engaging with 360° video in the future. 88% of those who found 360° “entertaining” intend to interact with 360° video ads in the future.
- Early tech adopters are most likely to engage with and enjoy 360° video, making it a big opportunity for brands targeting tech savvy consumers.
- Including simple instructional cues provided the best user experience. Some consumers didn’t engage with the video because they weren’t sure what to do.
- Overall, 360° video can be an effective format in delivering against brand KPIs above and beyond traditional video; however, challenges persist in creating memorable experiences given the inherent distractions of the format.
- The payoff is big once consumers recalled the brand, with +7% purchase intent increase on smartphones and +12% in agreement that the brand “has a unique story to tell” compared with a traditional video ad.
- While VR headset environments serve as the ideal platform, smartphone was the next best option. 360° video outperformed on smartphones compared with the same ad on PC.
- Contextual targeting can make a difference – pairing a 360° ad with content that is also 360° improves branding impact. The same ad is perceived as 8% more relevant compared with running in front of standard (non-360°) content.