Watch me talk about the upfronts, the future of online video, branded entertainment, and oompa loompas from my appearance earlier this month at the IAB's Leadership Forum on Online Video, moderated by my good friend (even though he's a Phillies Fan) Patrick Keane from CBS. Also featured is Steve Robinson from Panache.
Let me know what you think:
This post summarizes an ongoing conversation I've had over the past couple years with Brendan Light, SVP Research and Development at Buzzback Market Research: a super smart guy at a super smart company.
The Internet. It happened fast. One day, I was a high school, checking out images of college campuses on CD-ROM, the next, I was emailing from a "terminal" in my college library. The transition from analog to optical media-based digital content to Web-based content happened in a heartbeat and big business (and subsequently, big advertising agencies) had to adapt...fast.
So what happened? Everyone reacted instinctively and created an advertising convergence culture...and I don't mean this in the good, Henry Jenkins way. This was more a convergence of media aesthetics--the creative executions that populated the Web evoked familiar print and TV advertising styles. Even digital DM and CRM programs were really just ports of their offline brethren--not systems reconfigured to take advantage of interactivity. At the time, it was more important that clients and consumers wrap their heads around the medium in a way that was familiar. There's a silly phrase: "we only use 10% of our brains." Well, we marketers (and our clients and consumers) have only been using about 2% of the Internet. It's nobody fault, really; no clients (or consumers) were really prepared for the power of this fully operational battle station. What's sad is, since the advent of online channel, nothing much has changed. Online Advertising still rarely equates to Interactive Marketing. Digital, it turns out really just means not analog.
But, as the search for engagement valuation continues, there could be a way for agencies and brands to work together to create a different kind of value system redefining, or at least taking some of the pressure off of the idea of "engagement". To do it, we have to up the ante: it's time to define and differentiate Interactive Marketing from Online Advertising.
How? When? Where? Whaaaaa?
The onset of the Semantic Web means more powerful targeting. Targeting that could get very close to simulating an online, controlled research panel. Tools like Buzzback's suite of creative research applications (or ones like them) could provide back-end qualitative and quantitative analysis, as well as a flexible creative platform that will allow individual advertising executions to double as learning labs for valuable market research.
A new form of compelling interactive units would be more dynamic, always morphing and relating to user interaction on a collective and individual basis. Because the creative is more responsive, interaction rates would increase and clients would receive new types of valuable data that's far more actionable than what they're getting today (think about it: in addition to today's conventional tactics, these high-powered units could inform product designs...or anything else a client would usually get from a focus group).
This approach could help close the gap between what's measurable and what's actionable for our clients, increasing the value of the creative and the placements.
Some people might scream, "you've got your chocolate in my peanut butter!" but the combination of creative advertising and market research could be the most powerful and most valuable convergence we'll see.
What would it take?
1) A Reality check. Focus groups and surveys are dying. Research companies need to upgrade their approach and enroll their clients in this shift. I expect it would also take independent research companies and creative shops buddying up. If either expect to be successful without the other, they're mistaken (unless they can spend lots of time and money building a best-class department).
2) Pliability. Clients and agencies need to develop more flexible strategic plans...or develop them more frequently. Part of what makes this model so interesting is how actionable it is...but agencies can't do anything if they're constricted by a plan that's 6 months old. There's really no way to predict where a conversation with consumers will go...and the most valuable reactions will be in response to the most current consumer activity. So the way most plans and spending forecasts are developed today, they probably couldn't support this system well enough to extract the value.
3) A Breakout Hit. Money is money is money. How many times did clients ask for Subservient Chicken (without any idea how many chicken sandwiches it sold). Even though this new hybrid model would be more efficient for clients, engaging for consumers and flexible for agencies, it better not taste like medicine. A great execution for a popular brand that yields amazing results (anecdotally as well as statistically) will help this become reality. How do we increase the chances of that happening? Simple. Make sure that all your online advertising ideas are embedded with interactive marketing smarts.
If you were there, and you want to relive it, or if you weren't and missed it (or if you were just stuck on the 405) you can view, share, and/or download my presentation below.
Got comments? Share 'em.
If you've read the NY Times article about Tide's new web series, Crescent Heights, take a chance to do so by clicking here.
Read it?
Good.
Now visit the site that is distributing Crescent Heights by clicking here.
Seen it?
Good.
Can someone explain to me why anyone would visit this site?
How about why anyone would watch the episodes?
How about why anyone would want to discuss these?
What this whole thing is missing is a reason. A reason to watch. A reason to communicate with other people watching it. Some incentive. Something.
I normally don't like to criticize experimental online initiatives by industry stalwarts like P&G, but we all need to learn from this.
Put anything on television, someone is going to watch it, because they will be too lazy to change the channel. Put it on the web, on its own site, and you're going to have to give people a reason to go there. A reason to tell others to go there. A reason to come back.
Anything short of that is falling short.
(Update: AdRants Agrees. And congrats, Steve on selling a bit o'the site!)
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