Marketing’s Game Change
Guest post by Brian Shin, Visible Measures.
In the world of marketing, there are a number of incremental changes. We hear a lot about optimizing, making things just a little better. These improvements are good. They signify industry progress and the evolution of technology, all of which marketers can leverage to help them reach their business objectives. But there are few true game changers.
Consumer centricity is one of those game changers.
Traditionally, marketing was about broadcasting a message to a large group of people. To do this, marketers would borrow audiences' attention while they were watching TV, reading a newspaper, listening to the radio, etc. Broadcast marketing is a powerful tool for driving overall awareness for brand advertisers.
But today, instead of sitting back and waiting for brands to come to them, people are increasingly seeking out and choosing to interact with brands, looking for entertainment, to do research, to form opinions, and more. Consumer centric models mandate that you as a brand provide choice for your consumers. The great thing about this model is that consumers show intent with choice. And intent is a boon to marketers.
Think about the Red Bull Stratos Jump, which has driven over 53 million views in less than a week. Or Samsung’s Galaxy S III campaign featuring Apple fans waiting in line for the latest iPhone, which also has 53 million views to date. People are searching for branded content across screens on all types of devices, from computers, to smartphones, tablets, set-top-boxes, and Smart TVs.
This shift to consumer centricity is one of the biggest changes in the history of marketing. While it's an incredible opportunity for brands, it's also a challenge because it's no longer about borrowing audiences' attention with big media dollars. Instead, it's about centering marketing efforts around consumers to attract their attention and get them to actively choose to engage with your brand.
If done correctly, the results can be massive. Brand lift metrics on consumer centric video campaigns (where consumers have to choose to watch a video ad) increase on average between 300 and 450 percent compared to their traditional media counterparts. In addition to these surges in brand lift, these consumer centric video campaigns drive earned media, the most powerful endorsement a video ad campaign can receive.
The big question is: How do marketers reach consumers in a world where audiences are fragmented across networks, channels, and devices? How do they ensure that their audiences are choosing their brands over their competitors? With over 72 hours of video uploaded every minute to YouTube alone, how can audiences even find brands among all the noise?
This monumental shift in marketing will be at the center of my FutureM talk this Tuesday, “The Future of Video Marketing is Here and It Looks Like Choice.” I'll talk about the foundation of video marketing, the changes we've seen over the past decade, and where we're going over the next few years. We'll touch on what every brand marketer can do to succeed in video in a consumer centric world. I'll present case studies from some of the largest brands in the world and highlight the best practices that drove the most results. We'll also take a look at big TV advertisers and how they can leverage online socialization to dramatically increase lift.
With audiences choosing to watch video ads over 3.5 billion times in 2012 alone, getting your audiences to engage with your content is one of the biggest battlegrounds in the future of marketing. I hope to see you on Tuesday.