It’s no secret that online video is truly coming into its own in terms of viewership. There’s no reason why your business can’t capitalize on this. Video is one of the top forms of viral marketing on the web, and viral marketing is one of the most effective forms of marketing period.
When people share a video with other people, it is because they find it interesting and think others will too. If that video is promoting your business, what better form of advertising could you ask for?
The big ad agencies recognize this. In fact, a new report released today from Feed Company shows that 70% of ad agency and media buying executives plan to increase budgets for viral video marketing next year. "In the past, fear of ceding control to consumers during the marketing process made advertisers hesitant to create and release brand-themed video online," said Miguel Gonzalez, VP, creative director of Draftfcb Chicago. "But the parade of content that has ‘gone viral’ shows that the results are worth the effort, even when the outcome is hard to predict." Most agencies see the potential for achieving "exponential views" as the biggest motivator for creating viral videos.
As Feed Company points out, it is hard to place a benchmark on the success of a viral video. Respondents to their survey cited varied responses including 100,000 views, 250,000 views, or 500,000 views. To a small business, I think 100,000 views could be considered a successful run, with more than that being icing on the cake. If you can get your video viewed by that many people, it is just that many more people who have been exposed to your brand, which is one of the primary goals in the first place. You’re not always going to be looking for an instant sale from these things.
Agencies are still seeking improvements on how viral video campaigns are tracked and executed, and these areas will likely see improvement in the future as this type of marketing strategy becomes more common place, which will likely happen as online video viewing continues to trend upward. "The survey shows that agencies recognize the value of viral video for their clients even as they call for improvements," said Josh Warner, president of Feed Company. "We’re definitely seeing more of these campaigns because it costs less to produce and market viral video than many other types of traditional media – and that’s attractive to marketers during an economic downturn."
Inspiring curiosity like I talked about here is a great way to get a viral video off the ground (the Cloverfield method). Jennifer Laycock shared some more useful information about viral marketing at Small Business Marketing Unleashed earlier this year as well.