In the September 17th edition of Advertising Age, an article ran featuring brands that have really figured out how to best use a social network.
At the end of each example of such brands, the results of each particular campaign were listed.
Not listed under results were sales, market share or volume increases.
Instead, what were laid out as the parameters of success were video views, interactions, hours of video content viewed and time spent with the brand.
Really? Is this any way to measure success?
I would say “yes.”
Because digital IS different. The way it works is different. Who controls it is different. And the mindset of those using it is different.
Which means the expectations are/should be different.
And, how we measure success needs to be different.
Take hours of video content viewed. In this particular brand’s experience, the number was 80,000 + hours of video content – their brand content – viewed.
By the way, 80,000 hours translates to 3,333 days.
Wait, come again. You mean that this campaign generated 3,333 days, 9.13 years, of time spent with the brand and it’s story.
Let’s see how that would translate to :30 spots run on TV. Take 10M impressions. Say every impression watch every second of the commercial. Three hundred million seconds. That comes out to 83 hours spent the brand.
Now we know not everyone watches all thirty seconds, don't we. But let’s be kind and say half of those impressions watched all thirty seconds. Which means you’d need somewhere in the neighborhood of 20 million impressions to achieve the same results that this digital campaign did.
Cost for TV? At a $20 CPM, 20M impressions comes out to around $400,000.
Did it cost less to run the digital execution? Don’t know, but I would expect so.
“But wait a minute,” the TV networks will say, “time spent doesn’t correlate to sales”.
And, they’re right.
But, it does correlate to logic.
And logic says, the more time I spend with one brand, the less time I have to spend with the competitor’s brand.
The more time I spend with one brand, the better I get to know that brand.
And there is one universal truth when it comes to selling anything to anyone.
People seldom buy from strangers.