Since years, experts have contended the effectiveness of display advertising in increasing conversions. The advent of rich media display advertising has led to the development of an exciting new life into what few have regarded as a waning medium. In fact, as many customers have become tired with the standard banner ads, research shows that they are spending more time with rich media ads- and are about three times more apt to click and convert.
Rich media advertising is a form of advertising that uses a wide variety of interactive digital media, including video, audio, and streaming. It shows a potent creative opportunity, permitting campaigns to deliver a greater impact.
So, do you know what is Rich Media?
In the world of online advertising, Rich Media is the ad which combines images, text, video, and audio, along with other web elements to offer an interactive ad experience to the users. The objective is to make the ad look more dynamic and engaging to attain a strong user response. It is an interactive ad, as it changes when the user moves the screen.
For instance, consider a display ad which has a static background and a vibrant foreground. As the user scrolls up, the foreground starts moving up or down or changes its appearance which captures the attention of the user.
Display banners and text ads are not as effective as rich media because of the lack of involvement of ad with the user. Moreover, most of us are bored with the traditional banner ads that are not relevant to us in any way. That is why advertisers weigh the CPM built on the available data during bidding.
The best part is audience behaviour like numbers of exits, expansions, and video completion rates can be reported and tracked. This, in turn, helps in deciding the success of an ad campaign.
Features of Rich Media
- Improved animations
- Immediate user interaction
- Improved ad quality and content
- Technically sophisticated
- Improved brand awareness and high ROI
Rich Media brings exciting creative opportunities for marketers
Rich media has been around since the 90’s.- with the initial rich media ad belonging to the popular computer brand, Hewlett Packard. Today, it poses several attainable and exhilarating opportunities for all marketers.
As rich media advertises makes use of varieties of interactive digital media including audio, videos and live streams- it presents a “wide open” picture for the creative to apply their messages in a more impactful manner. As traditional banner ads typically use images, texts, and flash automation, there are fewer chances for the customer to co-operate. With rich media advertising, marketers can be complex and give customers exhilarating ways to engage with their product or their company.
Difference between Standard Ad & Rich Media
- Standard Ads are simple ads that include texts with a visual element like a graphic or a logo. On the other hand, Rich media ads are creative with polling, flash games, and videos.
- The creative size of standard ads is less than <200K whereas the file size of the Rich Media is generally higher than 200 k.
- Standard ads are static with less or no interactive elements. On the contrary, Rich Media ads are dynamic and extremely interactive.
- In a standard ad, a click by the user will redirect him to the advertiser’s page. On the other hand, a Rich media ad can grow, pause, float, and the volume can be decreased or increased. The landing page is not the only objective.
Types of Rich Media
Here’s a fact. Rich Media ads are not as technical as you imagine. Even a video is regarded as a rich media ad. Here is a list of top rich media ads that you can run.
1. Banner (Motion Poster)
An ad creative that is fixed is known as a banner ad. If it is dynamic, it is known as a rich media ad. Banners are the most common kind of rich media ads and they are in high demand too.
As maximum people support this ad, more and more advertisers are running it. If you are wondering why advertisers spend a huge amount of money on banners, it is relatively affordable and perfect for campaigns like seasonal offers, brand awareness etc.
CPM- Medium to high, depending on the publisher, audience, viewability and other important factors. Ensure that you divide the audience and make use of a first-party data strategy to attain the best possible CPMs. Without any doubt, header bidding can be a big game-changer.
Loading time- Low
2. Interstitial ads
An interstitial ad is a rich media format that includes different elements. It supports banners, videos, and other HTML-5 based elements. These are mostly full-screen and are shown at natural transition points. These ads can move with the content or maintain a locked position as users scroll on the web page. The “locked” option is available at an ad trafficking stage. When an interstitial ad is displayed, you will find an option to either click on the ad and reach the corresponding page or close it and go back to the webpage.
These ads are high in demand. When advertisers understand these ads can yield better viewability and brand recall, then the investment in the format started to rise. The demand for the interstitial ad is almost 20%.
CPM- High. As the viewability is high, CPM’s are generally higher for the interstitial ads. However, you need to ensure that the user experience is not affected. Keep in mind, almost all the internet users do not like to see pop-ups and especially when it is not relevant, you might experience a decrease in the number of readers.
Loading time- High
3. Multi-directional expanding ads (MDE Ads)
Multi-dimensional expanding creative expands as per its position on the web page. It is also known as a location-based ad. For instance, if an ad is placed on the right side of a page, it automatically expands towards the left side of the web page when a user clicks or taps over it and vice-versa.
The demand for multi-directional expanding ads is low as the format is pretty much new in the world of advertising.
CPM- High. These ads are initiated by users, showing that the user is interested in viewing the expanded or complete version of the ad.
Loading time- High. With so many images, files, audio, and video, it takes too much time to load.
4. Pushdown ads
Pushdown ads do not expand in size. It loads in the form of a teaser on the webpage and when a user clicks, hover or taps over it, the ad pushes the content of the web page to show a bigger ad creative. These ads support varieties of engaging creatives that do not hide the content, therefore getting more views compared to the overlaying ad units.
The demand for these ads is medium. The format is new yet getting traction as it looks like traditional leader board.
CPM- High. As discussed earlier, it is a user-initiated ad which tends to have a better CPM.
Loading time- High. Due to the audio and video files related to the ad, the user may encounter a delay in the loading time.
Is Rich Media preferred by advertisers?
As the competition is increasing, marketing experts have realized that it is hard to reach the target audience. Buyers are equally aware of this and are conducting their own buying research. Viewers tend to get annoyed when they are overloaded with various kinds of boring traditional ads, this results in waste of both money and time. This is where Rich Media is regarded as a powerful tool, providing better performance compared to traditional ads.
Rich media ads can be measured. It allows advertisers to track and evaluate varieties of significant browsing behaviours. Also, it has a higher interaction rate. Advertisers can efficiently attract their target customers by promoting them to interact with the online ad and offering them with an engaging experience.
Rich media ads have been trying to make marketing a pleasant experience through their advanced methods. It is one of the best methods to tell a customer about a brand and promoting it without leaving the page. It’s interactive and creative nature is being shared with an outstanding user response, therefore, creating brand awareness, improved call-to-action, and a better ROI.