Facebook advertisers can’t seem to get enough video.
In the third quarter, Nanigans’ ad clients increased video budgets by 24%, year-over-year.
This represents the third straight quarter that video ad budgets have more than doubled budgets for image ads, according to the Facebook marketing partner.
Year-over-year, costs-per-click for video ads increased by 31% among Nanigans’ ad clients.
The jump in CPCs indicates there are more advertisers serving video ads — and Nanigans’ customers are willing to pay more to serve these ads, the ad software firm suggests.
Click-through rates for video ads dropped by 28%, year-over-year, the firm found. Despite decreasing CTRs, the rise in video spend over the past year implies that customers still saw positive returns from video ads, according to Nanigans.
Among Nanigans’ customers in the ecommerce, gaming and lead generation verticals, budgets for Facebook dynamic ads increased significantly in the third quarter. Year-over-year, ad spend increased by 98%.
In the quarter, dynamic ads also delivered better click-through rates (2.4%) than non-dynamic ads (0.96%).
Nanigans said current and historical data in its latest report were compiled using an updated reporting methodology, which took into account ads targeting multiple countries at once.As such, the data in the report should not be compared with prior reports, and might not necessarily be a proxy for trends in the overall Facebook ad marketplace.