February 8, 2011 By Anna Sawyer Recently we shared Trada¶s experiences with YouTube¶s Promoted Videos, which is an advertising platform similar to paid search that places a thumbnail of your video along with three lines of text on the page with organic YouTube search results. When a searcher clicks your thumbnail, your video opens on your YouTube channel. It¶s an amazing form of online advertising, because:
YouTube is the world¶s second-largest search engine You don¶t need to worry about landing page design ± the searcher is delivered right to your YouTube channel, where you can make other videos available The Promoted Videos offering is new, so it¶s insanely cheap ± for many verticals, it can cost as little as three cents per click to get the first position. And you may find that your video is the only paid result for certain search terms.
But some advertisers may get hung up on a step that comes even before YouTube Promoted Videos. The hefty, time-consuming creative process of making a marketing video may be outside their purview ± or simply not a priority. Putting together an effective web video to market a brand or product takes skills. From concept to execution to distribution, you need someone in your company who can: conceptualize a story and encapsulate your brand/product, write an engaging script, shoot, edit, and produce a video, and market it effectively.
Not to mention all the equipment. Lights. Cameras. Action figures for animated fight sequences. (OK« maybe not those).
Hiring a soup-to-nuts video company is pricey. One of the more wellknown viral/marketing video companies charges around $50K for a project. But if we¶re seeing crowdsourced online advertising work in other areas (like graphic design and copywriting with 99 Designs and crowdSPRING, or with Trada¶s geographical neighbors Victors & Spoils, who¶ve taken the crowdsourcing model and applied it to the ad agency), it only makes sense that someone would have begun crowdsourcing video marketing. Here are two companies who are doing cool things with crowdsourced online advertising in the video space:
Poptent calls itself a ³social network around crowdsourcing video´. They allow their users ± the crowd ± to create videos for major brands. Because fans are creating videos for brands anyway, Poptent, has in a way created a way to monetize something that¶s already occurring (which some might say is the best business model). On the Poptent blog you can see some of the commissioned projects: they range from around $10 ± $25K (which is pretty reasonable) for web commercials, how-tos, and viral videos. If you¶re the type of brand that has a core group of fans, it may be worth looking into trying crowdsourced online advertising with Poptent.
GeniusRocket offers a µcurated¶ approach to crowdsourced online advertising: they claim to take the guesswork out of crowdsourced video production and distribution by handmanaging the brand strategy of clients, then helping to choose artists from their crowd. This is an interesting idea. I would argue that it¶s not truly crowdsourcing, as the value in crowdsourcing comes from the collective wisdom of a crowd ± where the great ideas come to the surface through the mechanism of a marketplace. I would refer to this as a community of creatives with an in-house team who manages their projects. But whether it¶s truly crowdsourced online advertising or not, as an advertiser it¶s likely to be a more cost-effective system for finding good
video work. For one thing, video marketers who work in the GeniusRocket system can stick to what they¶re good at without having to find or manage clients (this is similar to Trada¶s model for PPC experts). This removes some overhead, as creatives who are able to find work more easily ± and in this system, it¶s more likely to be the right work ± may work for less on a project basis. And a social community offers regulation systems ± like historical performance, comments, and connections ± that can help you as an advertiser make an informed decision when it comes to hiring a video creative. The world of crowdsourced online advertising is expanding, and it¶s fascinating to see how the wisdom of the crowd is being leveraged. These are just two companies that stand out, but if crowdsourced video proves to be a successful model, it¶s only a matter of time before the options become numerous enough to create a marketplace of its own.
If crowdsourced online advertising work in other areas (like graphic design and copywriting with 99 Designs and crowdSPRING, or with Trada’s geographical neighbors Victors & Spoils, who’ve taken the crowdsourcing model and applied it to the ad agency), it only makes sense that someone would have begun crowdsourcing video marketing.
Here are two companies who are doing cool things with crowdsourced online advertising in the video space:
Poptent calls itself a “social network around crowdsourcing video”. They allow their users – the crowd – to create videos for major brands.
GeniusRocket offers a ‘curated’ approach to crowdsourced online advertising: they claim to take the guesswork out of crowdsourced video production and distribution by hand-managing the brand strategy of clients, then helping to choose artists from their crowd.