So far the only solution to monetize online viral videos has been Advertising. There are a number of factors that will contribute to a video ad’s success. With solid metrics, you can better track & control them and make your message effective for audience.
Foundation metricsAny discussion about success should always start out with intended goals. Did you reach the right people? What types of frequency levels did you attain? Was your message in front of your audience long enough? Was awareness increased? What types of responses did the campaign elicit?Having complete transparency to see where your ads ran, and who they ran in front of, is extremely important. Equally important is knowing your campaign’s reach and frequency. These basic metrics give insight into the who, where and how of a campaign, but aren’t specific to online video (they’re actually staples of traditional media).
Check out this latest article by Bradley Werner
Just how fast is online video growing? Fast and the numbers speak for themselves. Here is a great article about where we can see video consumption headed:
- Approximately half of online consumers sometimes watch their favorite shows online.
- Watching TV online has now replaced news as the most widely viewed content online.
- The top two reasons for watching TV on internet:
- More than three out of five online TV viewers cite personal convenience as the major reason for watching TV broadcasts online.
- More than one-third cite a wish to avoid watching television commercials (other reasons cited include portability and a preference for computer viewing).
- The proportion of internet users who catch up online on missed TV content has increased to 42% from 30% a year ago.
- Four out of every five online viewers say that watching TV programs online has not changed their television viewing habits, but a small percentage claim that their traditional television viewing has decreased.
- The top methods for viewing broadcasts online are streaming and free downloading: About two-thirds of viewers stream online content, more than 40% download content for free.
For the last year or so, we have been big proponents of Addressability. Basically, addressability in a extremely media landscape with tons of media conduits ranging from YouTube to Joost to IPTV services, is now the key factor in determining if people will even see your content or view your ad. The big question every agency and content producer is asking, “Where is my audience?” The real answer is that no one knows today.Audiences move quicker and quicker with each day. One minute they are watching something on one platform and in a blink of an eye they are watching something on another platform. This situation creates an economic problem for advertisers who need to reach large audiences to make their advertising dollars cost-effective. In addition, since the number of viewers determines the advertising rates, audience fragmentation will affect the networks’ revenues as the audience size diminishes. As audiences become more fragmented, the major networks will need to create new revenue sources.
The future for advertising and PR agencies remains in developing and driving the big idea, and the ones that will be most successful in this quest are ones that use the full suite of services the portals offer for: developing powerful insights, baking big ideas, testing them, setting benchmarks, executing programs and measuring it all.Think of them as all-in-one suites of tools, akin to Microsoft Office or a Swiss Army Knife. They are where anyone can find the magical elixir for driving marketing accountability.
Sounds like our Scope platform. You can read more about it in AdAage. Steve Rubel wrote a great article called, “The Quest for Accountability Begins and Ends With Search”. You can read it here while it lasts online, here or grab the October 2007 issue of AdAge.
We have been saying for months that new media is inherently becoming more and more fragmented and if you happen to be an advertiser, content producer, or in marketing you know this better than anyone. Long hours trying to figure out where your audience is takes its toll in terms of time and money. To make matters worse, when you think you figured it out, your audience moves to another platform.On average, there are 2 new digital video platforms popping up online in the United States each month and in some markets, online video platforms have swelled to over 400 like in China. This is a huge problem that cannot be ignored as users spend more and more time online downloading or streaming everything from short clips to full length television shows and in turn, spend less time consuming content from traditional platforms, such as TV. At divinity Metrics, we call this the “Addressability Crisis.” We have worked hard on tackling this problem by building a platform that aggregates trends, demographics, and other detailed information on video across multiple digital platforms.While this article is dated, it is refreshing to see how ad agencies are finally looking for more specific industrial tools to also reveal depth and show ROI to their clients. MediaWeek has a great article about what agencies are doing in the next year to shore up their tool chest. Here is a good quote:
Charlie Rutman, CEO, MPG North America, agrees, adding that agencies need to think more holistically about marketing communications to come up with plans that are truly integrated. â€œWeâ€™ve been trained to look at and measure a lot of media individually, yet it’s the activation of multiple platforms that makes a truly effective strategy,â€? he says. â€œI think that coming up with accurate metrics that demonstrate how these platforms all work together is the next big wave.”
You can read more here