Google has officially thrown open the gates to AdWords for video. You can now make your own video ad and run it as a CPC AdWords campaign just like you currently do with search and display ads.
What this means is that YouTube’s 800 million monthly visitors are suddenly in play for performance marketing media buyers and that we will see all kinds of imaginative approaches being tried. Brands will of course also have a new set of headaches to worry about as their products appear in videos with competitor ads as pre-rolls. It has the potential to be like reverse product-placement.
This is going to be huge for the performance marketing community. YouTube has a crazy amount of traffic to go after and it will present an entirely new challenge to effective targeting and segmentation. Those folks involved in local and mobile marketing will have a field day too as google are specifically promoting the use of the new AdWords for video opportunity for SMBs.
Google is giving away $50 million in free advertising:
We’re giving away $50 million in free Google AdWords advertising to help 500,000 businesses get into video. If you are new to AdWords, you can receive a $75 credit when you sign up. To put that into context, with $75 your video campaign can reach more than 1,500 of your most valuable customers on YouTube for one month.
They have even developed a free online editing tool to help advertisers tell a story, and an 122-page Advertiser Playbook that provides tip on creating a video marketing strategy, putting a video together and then attracting an audience. Google is very serious about this – it an opportunity for them to finally create a new revenue stream to match their search engine business.
Who is going to bet that within a month we find someone uploading videos of Oprah and Dr Oz, then trying to make a quick buck off the pre-rolls before the videos get taken down? You know it going to happen.