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"Advertisers can take a single ad and display it on any channel on television, satellite and cable. But then when they try to make the jump to online video advertising they end up having to create entirely new content and that’s a huge hurdle for them to get involved because of expense and time."
Isn't that exactly as it should be? TV ads do not necessarily good Web ads make. I'm happy to see major advertisers scratch their heads as they try to make sense of the "whole Internet thing," because it means that the money is going to the guys who get it. Advertising as we know it has to be completely revamped to fit the Instant Age, ere the vox populi starts shouting too loudly. Those "hurdles", as you've described them, are necessary barriers to a realm replete with opportunity for the innovative few who are brave enough to venture within. And I, for one, cannot wait for the venturing to begin.
Sorry to pop your bubble but that is not a desired outcome. To restrict the ability for advertisers to "reach" into web video is not a good thing. Now I realize that you're new to this whole business things being an intern, but the only, ONLY reason companies exist is to make money . The harder it is to make money the the harder it will be to employ a $10 an hour intern and to offer content and services to your visitors/viewers. So chalk this up as a lesson and learn to play the game. Its a pretty well defined game.
Look, am I saying that it should be expensive to create video content? Of course not. But everyone in this forum recognizes the fact that online video marketing is in a juvenile stage, so of course it's going to be expensive. It will take innovation to reduce the expense of creating online video content, and to increase its effectiveness - those innovations are happening constantly, and as a result Web video is getting cheaper to produce. If there is a preventative cost associated with it, then we as marketers (and those $10/hr interns; I wish I was so lucky) must find creative ways to reduce the cost. And if you're not playing that game, then we're not even in the same ballpark.
Thanks for playing!
I said: "Advertisers see cost as prohibitive, and that's a good thing, because it drives innovation."
You said: "No, high costs are bad because the point of business is to make money."
I said: "Right, but these high costs are temporary, the smart few will figure out a way to lower them."
You said: ...Well, you said the same thing I said, but only in a condescending way, and called me naive at the end of it.
So is the prohibitive cost of Web video a good thing or a bad thing in the long term, in your (obviously very confused) view? Are you just pissed because the pre-rolls you put on YouTube keep getting skipped?
Costs are not the prohibitive factor in online video ad growth. It’s the technical difficulty of creating and flighting a plan (you may choose to quantify that pain but its not the industries problem). With each Publisher using a slightly different solution the difficulty of buying and fighting ads is more trouble than its worth for most buyers. Combine the fact that most agencies still (and will for a while) keep their broadcast (video) separate from their Digital buys and divisions. So the internal politics come into play a lot with the big $ branded advertisers and how they spend their budgets.
As the technology matures (both ad serving and video codecs and formats) the difficulty of buying Video ads will decrease. This will allow the buyers to buy across the web with greater efficiency and ease. Until that time comes (2010-11) we’re at the mercy of those leading edge advertisers and the few companies who have creating the ad delivery technology and mechanisms for serving video ads. Publishers are VERY cautious about trying new in-video ad formats and advertisers are just not that interested.
Of course the ad units will evolve. Its advertising! They will shift and morph into a multitude of creative formats many of which will work and many will not. If you want to study a comparison look at the whole “Rich Media” market. Look close at the companies that rose up to help the advertisers create, traffic and track “Rich Media”. You’ll see some important correlations between that market and Video.
My advice is to lose the moniker and the “tude” . There is a lot to learn here and there are countless people who have years of experience working on removing the hurdles. One thing is for sure: It won’t happen fast. Nothing big ever does. So be patient and put yourself into a position to benefit from the impending boom. Its coming.
Apology accepted, and one sent in return.
I understand your point, though I disagree that advertisers aren't that interested in trying out new ad formats. I guess it depends on who you talk to.
I'm also not convinced it will take until 2011 for technology to mature to the point where generating and buying ads becomes fluid. From what I'm seeing, those capabilities could be implemented by December. Whether they will be is another question entirely, of course.
"Tude" is gone, but the moniker stays. Say what you want about it's implications, but you remembered it, didn't you? ;-)