As a professional marketer, you might feel like there are more metrics and acronyms out there than you can keep track of. From NPS to ROI to KPI, these acronyms start to seem meaningless—unless you understand their true importance to your brand.
CPCV is one of those acronyms you may have heard tossed around a lot in the marketing world. So what is CPCV? And even more importantly—what is a good CPCV? Check out our guide to learn everything you need to know about CPCV for your company.
What Is CPCV?
CPCV stands for “cost per completed view.” This is a term used to measure the effectiveness of video content in marketing—specifically, how much an advertiser is paying a publisher each time their video is watched in its entirety.
How to Calculate Completed Views
The CPCV formula is pretty simple, so calculating it is straightforward. Simply divide the budget of the campaign by the completed views to obtain the number.
Total Campaign Cost / Completed Views = CPCV
For example, if a video campaign costs $300 and receives 1000 completed views, the CPCV would be $0.30.
What Is a Good CPCV?
As you may have guessed, the lower the CPCV, the better. Having a high CPCV means you’re spending a lot of money to get your video in front of your target audience, while a low CPCV means your video ad is performing well. Most CPCV prices range from $0.10-0.30, with a $0.10 ad being the more desirable end of the spectrum.
How to Improve CPCV
Frustrated by a high CPCV? Fortunately, there are many quick ways to improve this metric and get a more engaged audience that converts. Here are some tips for improving CPCV:
- Create Several Aspect Ratios: Viewers use a range of devices to watch video content, from mobile devices to desktop computers. Make sure the videos are optimized for any type of device by uploading videos in several different aspect ratios.
- Widen Your Target Audience: The more targeted your ad, the higher the competition will be. If your CPCV is too high, try widening your target to include more potential viewers.
- Shorten Your Video: Today’s consumers have a short attention span, meaning they’re more likely to completely view a short video rather than a long one. Try cutting down your video by 5-10 seconds to optimize CPCV.
- Rotate Your Ads: Publishers favor fresh content, meaning it’s best to rotate between 2-3 videos for your ad auction. Otherwise, you may create “ad fatigue” and lose completed views over time.
CPV vs. CPCV
Another popular metric for measuring the success of video ads is the cost per view. So naturally, you may be wondering how to compare CPV vs. CPCV.
In short, CPV is measured when a viewer watches a video for at least 1 second, while CPCV is measured when a viewer watches a whole video. Clearly, CPCV is usually a better metric to use, since it indicates true engagement from the viewer.
How Do CPMs Work?
CPM (cost per thousand/cost per mille) is another metric used for pricing video content. So how do CPMs work? This number is calculated by adding up the total impressions and multiplying that number by the CPM rate, then dividing by 1,000.
(Total impressions x CPM rate) / 1,000 = CPM
Marketers decide on a target CPM before publishing a video, then will determine the success of the video by comparing CPM alongside other metrics like CPCV or CPV. CPM may be influenced by the geography of the publisher, the amount of data used to view the ad, the type of device the video is viewed on, and more.
Improve Your CPCV Today
Implementing CPCV into your video marketing strategy can help you save money and increase your return on investment. And if you’re looking for more help with your advertising strategy, Agility Digital can help. Schedule a live demo today to learn more about our relevant, personalized ad experience. From ad creative production to detailed analytics, you’ll love using Agility for all your marketing needs.