According to a new Feed Company survey, marketing agencies are paying more attention and are willing to pay more money for viral video.
The survey, Viral Video Marketing Survey: The Agency Perspective, was conducted online from August 1 to September 12 and polled 40 executives from leading US advertising agencies and media buying firms.
“There’s been so much talk and conjecture about viral video and its use and effectiveness by advertising agencies and brand marketers,” said Josh Warner, president of Feed Company. “So I figured it was time to talk to the source so we could get a better picture.”
Nearly 70% of responding agencies intend to increase their viral video marketing budgets in 2009, among other findings.
On the executive side, nearly 35% of executives polled plan on increasing their viral video marketing spending by 25%, and another 25.6% intend to increase production by 50% in 2009. Less than 10% of the agency executives intend to double their spending in the next year.