Facebook advertisers can’t seem to get enough video, reports Digital News Daily, which noted that in the third quarter of 2019, Nanigans‘ advertising automation software found that “ad clients increased video budgets by 24%, year-over-year.

“This represents the third straight quarter that video ad budgets have more than doubled budgets for image ads, according to the Facebook marketing partner.

“Year-over-year, costs-per-click for video ads increased by 31% among Nanigans’ ad clients.

“The jump in CPCs indicates there are more advertisers serving video ads — and Nanigans’ customers are willing to pay more to serve these ads, the ad software firm suggests.

“Click-through rates for video ads dropped by 28%, year-over-year, the firm found. Despite decreasing CTRs, the rise in video spend over the past year implies that customers still saw positive returns from video ads, according to Nanigans.

“Among Nanigans’ customers in the ecommerce, gaming and lead generation verticals, budgets for Facebook dynamic ads increased significantly in the third quarter. Year-over-year, ad spend increased by 98%.”

More here.

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