Monday, November 11, 2013

Once Again, Longer is Better

If you look at the list of the top ten viral commercials last week, courtesy of Visible Measures, you’ll notice that 8 out of ten of the commercials were longer than :30 in length.

These are the commercials that viewers choose to share with their friends.

The top spot on the list had over 5.7M views.

The lowest spot on the list of ten had 1.9M views.

Why?

Why do people want to share spots that are longer rather than shorter?

I believe it has to do with what it’s always had to do with.

Story.

And that stories are better told when they have the time to be told well.

The question is, how can advertisers continue to afford to create these longer stories if they can only amortize the cost of production out over two to six million viewers?

Is it the money saved on media?  Perhaps.  But six million viewers at a $20 CPM is only $120K.  Then again, that’s only for a :30 spot.

What is needed is a new production cost model that allows longer format stories to be created that shares the risk of creation with both advertiser and agency.

If a four-minute spot is created, it probably is because the agency has deemed that 4 minutes would be better than 2 minutes to tell the story.

But 4 minutes costs more than 2 minutes to create.

The risk, currently, is all with the advertiser.

It can’t stay that way.

If the agency thinks four minutes are indeed needed, then the agency’s job is to make sure that all four minutes are consumed by the viewer.

If so, the agency is paid well.

If not, if only two out of four minutes are watched, the agency is paid less well.
How many agencies do you think would be willing to work this way?

Fair question.

But an even better question might be, how many advertisers have asked?

No comments:

Post a Comment