Today YouTube announced that Google AdWords for Video has been launched into beta. The new service will allow you to use Google’s advertising to easily place and manage video ads on YouTube and the Google Display Network.

Originally AdWords have been used in Google search results – they are the three-line text ads that appear next to the results. Google AdWords for Video aims to simplify online video ad campaigns. You pay only when the viewer chooses to watch your ad, similar to pay-per-click pricing with search ads.

The new system will offer four types of placement, called TrueView Video Ads. Options include in-stream, which includes pre-, mid-, and post-roll, in-search, which will appear in a viewer’s search results, in-display, which will show against similar content, and in-slate, which gives the viewer the option to choose which ad to view while watching longer-form content.

AdWords for Video also offers targeting so that you can select the group you want to reach based on demographics, interests, or keywords.

The advertising system works with Google’s existing analytics tool, which enables you to monitor impressions, views, average cost per views, total costs, and website clicks.

YouTube is the second largest search engine behind Google, the third largest site in the world, and receives 3 million video views a day. It’s worth considering spending some advertising dollars on Google AdWords for Video.

For more information on how the new AdWords for Video system will work, watch Google’s introductory video below:

[Via: Media Post, Image credit: Rego Korosi]