At a recent advertising conference, the pros and cons of VOD were discussed.
The biggest issue was that advertisers were looking for investment returns that were measurable. In other words, purchase path data.
One senior director for an advanced advertising platform said that the reason that agencies have a hard time when it comes to VOD is because it’s difficult to measure, especially when it comes to value.
Perhaps the real problem is in how they define value.
If an advertiser is looking at VOD as a direct response vehicle, then absolutely, it’s difficult to measure value. After all, not that many people will click through on their TV to buy a product.
But if we’re talking a branding campaign rather than direct response, VOD’s value becomes much more identifiable.
Branding is about building a relationship over time with a consumer so that they’ll eventually purchase the product. The key words here are “over time.”
Time spent with a brand through its advertising is something that VOD measures quite well. The true value that VOD delivers is the amount of quality time that the viewer can spend with a brand message. I say quality time because we’re talking large screen TV’s, hi-def, surround sound, etc. All the emotional branding tools that are missing from the online branding experience.
As well, because VOD advertising can be opt-in, it can be longer than thirty seconds in length. In other words, time can be taken to tell a story that engages, involves and motivates a consumer.
When you think about it this way, VOD should be seen as one of the better branding vehicles that an advertiser can purchase.
The return on investment that advertisers should be looking for is a return on involvement on the part of the viewer.
The immediate objective of VOD should be to capture time, not sales.
Sales will follow.