From Harvard to
Hollywood - Buzz is the answer to 'American Idol' sized Ratings and increased sales!
In addition to the millions generated from
product placement fees, the producers of the Fox hit American Idol have followed the
'insider' Hollywood formula for increasing box office sales.
They've got their Internet Buzz machine
Buzz, word of mouth, viral, guerilla. Call it what you will but
it is all really the same thing and it has been around to a long time.
It has been proven to be the most trusted form of marketing and
advertising. Who are you going to trust more, an ad or a recommendation from a friend?
Movie studios have long recognized the value of Internet Buzz
Building for that opening box office number. Over the last 3 years, studios and
other savvy clients have been budgeting more towards online buzz marketing .
Not only is it cost-effective, but since the success of
the sleeper hit Blair Witch Project, which was launched exclusively through
online buzz marketing, it provides an immediate response which is unheard of in a
But ... How Do You Measure Buzz?
Unlike a traditional CPM campaign, determining what effect word
of mouth plays in a marketing campaign can be elusive.
Enter David Godes and Dina Mayzlin, assistant professors
at Harvard Business School and the Yale School of Management, respectively, who have
published a 44-page study of the word-of-mouth phenomenon, how to measure it and
specifically how it relates to television ratings.
Among their findings: early conversations are the most
important in creating buzz and breadth is more important than volume.
"It may not matter if the new version of Hollywood Squares
is enthusiastically discussed among Hollywood Squares viewers, but when discussion moves
to the viewers of ER and American Idol, that's buzz."