Myth Busting: The Truth about Rich Media
Rich media technology has been around for several years now. But some marketers are still reluctant to use it to engage customers, partly due to misconceptions on what it is and what it can do. The confusion is understandable. Since although many rich media ad formats are standardized, the end product can vary vastly depending on budget and creativity of the concept.
Here are some common misconceptions about rich media and an attempt to dispel these myths.
Myth 1: Rich media ads are too expensive.
While some sites do charge premiums to advertisers for rich media ads, this is not the case across the board. Buying media is like buying a car. Everything is negotiable.
Before you determine what is “too expensive,” crunch some numbers and calculate your ROI, even if it’s just your best guess. When you see your ROI, you may be surprised at how affordable rich media could be, especially in comparison to print and TV buys.
Myth 2: Internet users don’t like rich media ads because they are intrusive.
Many rich media ad formats are user initiated, thus providing a less intrusive and more engaging experience for the end user. Even with ads that tend to be more “in your face” such as a floating ad, strategic delivery of your creative can intrigue instead of annoy your audience.
Also, studies have shown that rich media ads tend to yield higher click through rates and impact branding metrics favorably compared to traditional banner ads. In a study by Dynamic Logic in 2005, rich media ads outperformed GIF/JPG ads in the categories of ad awareness, message association, brand favorability and purchase intent.
Myth 3: Not everyone can view rich media ads.
The driving technology behind rich media ads is usually Adobe Flash, which has an extremely high penetration rate amongst the Internet audience. According to a Sept. 2006 worldwide survey by Millward Brown, 95.6% of those surveyed in the US/Canada had Flash Player 7 and this number keeps growing. So, you can be confident that your ads are reaching the masses.
Myth 4: I can’t track everything with rich media.
In addition to standard metrics such as clickthrough rates and impressions, advanced methods of tracking rich media ads allow advertisers to measure important metrics such as interaction rate (percentage of audience that engages with ad unit), interaction time (how much time the user spends engaging with the ad unit) and average view time for ads that incorporate video. If you can create it, they can track it.
Ready to take the plunge?
Now that you know the truth about rich media, don’t start a campaign because you know it’s the “thing” to do or because all of your competitors are doing it. Try calculating your ROI, even if it’s just your best guess. If you’re afraid to take the plunge, just get your feet wet and try a test campaign for a few months.
Better yet, test a rich media campaign versus a traditional online banner ad campaign and see how the results compare. Then you’ll have a rich media campaign under your belt and metrics to support your ad spend.
Sandra Ahn is the online advertising project manager at Red Door Interactive.
