Is Viral Video Marketing Effective & Cost Efficient (Part1)?

With the recent explosive popularity of You Tube online video advertising generally and in particular the creation of Viral Video Marketing Campaigns are fast becoming the method of choice for a brand managers of marketing departments of large blue chip corporations. Consumer brands have recognised that the viral video campaign can not only inform a potential customer of a new product or for example the launch of a new blockbuster movie, but with the power of the moving film the audience can engage and relate with the brand in no other way that audio or visual stills can.

‘Eyes On’ Video Advertising

However as internet adoption in all major economies now exceeds the large majority, the audience is increasingly becoming far more engaged with online video as a means of advertising, rather than traditional television of cinema. In addition to this, there is an increasingly known concept known as ‘Eyes On’, this is where the audience and potential customer is engaged for at a point in time. As moving picture devices have moved from the ‘traditional two’ (television and cinema), they have now becoming the ‘fantastic five’ as video advertising now includes devices such as personal computers, mobile smart ‘phones, tablet PC’s and the increasingly more common smart TV’s and therefore global consumer brands and their respective agencies are now becoming increasingly aware of the EOVA (‘Eyes On’ Video Advertising) concept.

‘Enhanced Viewer Engagement’

In addition to the ‘eyes on’ concept, where the audience is becoming increasingly fragmented in terms of the actual device they are using to watch video content, there is also the concept of being coined as ‘Enhanced Viewer Engagement’ (“EVE”). EVE is occurring in two main methods, such as (i) user are moving away from traditional television advertising as they are recording their favorite shows with technologies known as TiVo and Sky+, hence what is occurring here is that although viewers are exposed to this level of advertisement, they are able to avoid watching the advertisement breaks, through personal editing and fast-forwarding of television commercials; (ii) online video campaigns designed specifically as viral campaigns (e.g. Kony2012) for large audience engagement are being shared by the user, as opposed to distributed by the agency, as what was traditional; and (iii) commercially designed viral video marketing campaigns (e.g. PaddyPower Chav Tranquilizer) whereas clearly the brand is entwined with a related audience event is actually engaging and enticing the viewer to use the brand advertisers product and as that product is available online (as are the majority of all consumer products and services now are), there is a far greater chance of EVE.

These two concepts are combined demonstrate the greater level of cost effectiveness of an online video advertsing generally and the distribution of targeted viral campaigns with a specific consumer/brand intention. Given the level of metrics and detailed analytics regarding consumer engagement and long term brand loyalty that is becoming increasingly available from various providers of this services, the cost effectiveness is now becoming a far greater science than just applying the old adage, ‘advertising pays’.