Rewarded video ads are the latest advertising format on mobile that anyone concerned with enhancing in-app experiences and monetization should care about. They are a great way for brands to engage with consumers and effectively drive higher conversion rates more than traditional mobile display ads like static banner ads, interstitials or even regular video ads.
And as we have come to know, rewarded video effectiveness can be attributed to their incorporation of reward and incentive to the in-app experience for consumers.
But what exactly do consumers know and understand about rewarded video? To find out, InMobi and our team of market researchers polled hundreds of consumers in April and May to dive deeper into their thoughts on mobile ad formats and rewarded video specifically. Here is what we found.
When aware of these types of ads, consumers really prefer video as a rewarded ad experience. In total, 66% of respondents prefer rewarded video over other rewarded ad formats. Although they still prefer rewarded video, it is worth noting that men have a significantly stronger preference for interacting with a task ad compared to women.
With rewarded video ads, users can choose whether or not they want to engage with the ad, and this choice makes a big difference in how these ads are perceived.
As expected, consumers best recognize and have preference for rewarded video in gaming apps. And this makes sense. The in-game experience is already ripe with reward and incentive, so of course rewarded video ads can be easily integrated into the mobile gaming experience for users.
When we think of rewarded video ads, it’s easy to see how a user would want to watch the ads in exchange for extra playing time, extra lives, in-game currency and the like to advance in gameplay.
And our data reflects this, with 58% of those surveyed preferring to see this rewarded ad format in-game. However, our survey came back with some surprising insights in addition to affirming what we already suspected about rewarded video in-app experiences.
Here are the specifics:
While mobile gaming is a go-to site for rewarded video, our research found that there is opportunity for the inclusion of rewarded video ads in non-gaming contexts.
Rewarded ads are heavily associated with video and gaming, whether that be in-game ad experiences or ads for other games. Our findings also most notably suggest a serious lack of out-the-box thinking from publishers and advertisers overall in how to introduce and use rewarded ad units.
Truly, a wide variety of apps should implement rewarded ads in addition to other ad placements as part of their broader monetization model, as doing so will improve ad revenue, user engagement and retention rates.
Even within mobile gaming apps, gamers have become so accustomed to seeing ads for other games that publishers should aim to mix things up and make efforts to get other types of advertisers to buy into their supply.
In-game experience across gaming genres is often enhanced by things such as casual ease, competitiveness and incentive but also novelty. Just as developers know how to introduce new features and creatives in their game to keep up interest, publishers should think about how to use their in-app ads for opportunities for increased novelty in the user’s overall experience. Imagine how many more users would run to your game if they knew there was a chance to get a discount at their favorite restaurant or for their brand of choice?
Let the folks at InMobi help you build your expertise and utilization of this highly effective and popular ad format in a way that would be most fruitful for you. Want to learn more? Please reach out to us here or across any of our socials.
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