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ROI: The Driving Force Behind Viral Advertising
It’s a slow news day at AdWeek. The magazine is reporting that viral video advertising may not pay back in terms of sales (original article). Not a real shocker to most in the digital space. The return on investment of viral and even social media has been fuzzy at best.
If the recession has done anything to the ad industry, it’s made ROI (among other metrics and analytics) a must from the perspective of brand managers. Metrics were always important in the digital world, but with every dollar spent being challenged by corporate managers, ROI is almost more important than the creativity behind the campaign.
The original intention of viral videos was pure entertainment. People uploaded idiots falling down stair cases; cats playing pianos; puppies rolling around — it was America’s Funniest Home Videos on the web. The Alley McBeal dancing baby was one of the first I recall (comment on the ones you remember).
Within a few years, viral became so mainstream that even Time magazine had a ranking of the best videos of the year. Every consumer packaged goods company wanted something viral — but the video could not be too offensive, too funny or too quirky. Creative directors engaged in heated conversations with client legal teams were all the rage — “but Mr. Brand Manager, trust us…the product’s key benefit does become apparent to consumers when the guy in the video gets hit in the genitals.”
Anything new in this industry gets everyone pumped for a while. Perhaps 100 million views on YouTube isn’t what it used to be (sidebar: how many of these are truly unique views!?). Just like the clutter on television, viral videos are competing with boatloads of other content — more cats playing piano, more brands trying to pull off unique stunts. Consumers are sharper now — if they see a brand/logo, the lame meter goes off.
What’s the bottom line? 1) Looks like advertisers will have to work even harder to make the sale, 2) rolling skating babies don’t sell over-priced water.
