More than one-quarter (26%) of Sponsored Brands spend on Amazon in Q3 was invested in video ads, as the format rises in popularity compared to static ads. So finds Tinuiti in its Amazon Ads Benchmark report [download page] for the third quarter of 2020, exploring the popularity and performance of video ads.
Based on anonymized performance data from Amazon programs under Tinuiti management, the study highlights the continued trend of advertisers turning to video for their Amazon ad efforts. Compared to the number of Amazon US Sponsored Brands video advertisers in April 2020, this figure was some 15.9 times higher in September 2020, having grown steadily since May.
The report identifies the virtuous cycle behind these growing numbers, as more and more advertisers are compelled to turn to video ads by the format’s strong performance results.
In fact, in Q3 Sponsored Brands ads in video format were found to produce a click-through rate some 351% higher than the baseline for static ads for the median advertiser. Not only that, but the conversion rate for video ads was 38% higher than static, and their average order value 1% higher. Granted, the report does note some considerations to be aware of, including the “differences in the composition of queries driving traffic as well as potential differences in placement.”
These latest findings come after previous Tinuiti research found Sponsored Brands to have seen growth in several key metrics such as spend, sales and clicks.
Read the full report here.