In a recent test, Tremor Video, a digital video technology company, added interactive overlays to 15-second pre-rolls. The overlays allowed viewers to click to watch more videos or learn about the cause (Feeding America) this particular pre-roll was advocating.
Sixty-three seconds of additional time interacting with the cause. That’s a four-time increase over the length of the spot itself.
Equally impressive is this fact from Tremor. Looking at ten campaigns across six different industries, Tremor found that viewers who engage and spend more time with video ads were 4% more likely to purchase.
What’s interesting is the correlation between time-spent and purchase intent when the viewer is allowed to initiate the engagement.
Let’s carry it further. Let’s say that purchase intent increases in direct correlation to length of time spent with the commercial/brand.
Let's say that if viewers watch 100% of a commercial, they’re 20% more likely to purchase than if they only watch 50%.
What this does is prove the value of time spent.
So, if time spent offers value, why don’t advertisers pay their agencies based on how much time spent they deliver?
If viewers watch 100% of a spot, the agency makes more than if viewers watch only 50% or 25% or 10%.
We can measure time spent.
Can we monetize time spent?
It’s already been done.