How State Farm integrated VR as part of their $1B media plan
The insurance industry is known to be one of the largest industry in the world. America’s State Farm is the 9th biggest insurer in the world, with an advertising budget estimate close to $1B a year. The company had the objective to reach a slightly younger demographic, which perfectly matches Admix's VR inventory. The campaign ran throughout December, using bespoke creatives with a play on words with Virtual Reality. Very satisfied with the results, in January State Farm decided to extend the campaign with a regular budget throughout the year, becoming the first insurance advertiser to integrate VR within their media plan.
State Farm decided to use the Brightroll DSP to buy VR inventory through Admix. Brightroll (now Verizon Media) is one of Admix’s buyers, connected through OpenRTB. State Farm leveraged our standard formats - MPUs and VAST assets - which enabled them to start quickly as the campaign is already running on mobile. The advertiser has access to standard reporting through the DSP as well as a weekly breakdown of key VR metrics like gaze time, and completion rate.
The State Farm campaign was broad in terms of requirement: the first goal was to create engagement with as many 25-34 in the US as possible. Using our proprietary gaze tracking algorithm, we were able to measure the interest of the public on the display and video ads, and optimise the client’s spend. The second goal was to introduce some performance elements in the campaign. We built a metric called gaze-click, enabling users to click on ads to open a webpage in the placement, simply by looking at them, or using their VR controllers.
State Farm managed to reach over 500,000 users in VR over the duration of the campaign, and generated over 53 hours worth of gaze time in aggregate.
Gaze-click, a new metric we are developing with Oath, showed incredible results at 16% CTR, a 50x improvement over mobile banners, stressing the fact that, unsurprisingly, engagement is much higher in an immersive environment than on a mobile screen. Gaze click has now been released across all of our campaigns, albeit with slightly different thresholds.