Big Fuel, the consumer engagement agency, launched today The Big Think, the first collective interactive video think tank that aggregates market voices to help answer the big question, "What do consumers want?"
Today's consumer is more selective than ever, as the average person is literally bombarded with more than 5,000 branded messages per day - nearly three messages per minute every day according to a 2007 study by market researchers at Yankelovich. In this changing environment where consumers have taken control, marketers are desperate to engage with consumers in an effective way that will drive brand interest and action, and ultimately commerce.
"The consumer landscape is evolving and we're hearing loud and clear that traditional marketing tactics aren't working and consumers are ready for a change," said Ian Baer, president of Big Fuel. "A recent survey found that more than 70 percent of consumers with a DVR (Digital Video Recorder) skip commercials -- a clear indicator that marketers need to change their approach to connect with consumers and not waste significant marketing dollars."
According to the second edition of Deloitte's State of the Media Democracy Survey, the majority of Americans consider their computer more entertaining than their TV -- highlighting the growth of online video and its rising role in how consumers want to communicate and get information. For example, according to the New York Times' overview of vice presidential candidate Sarah Palin's interview with Katie Couric on CBS, the interview was initially viewed more than 1.4 million times on YouTube, and the follow-on "Saturday Night Live" parody was streamed more than 4 million times on NBC.com, viewed more than 600,000 times on YouTube and was seen many more hundreds of thousands of times in shorter clips. And last year, Big Fuel had its own video success with its online reality series for Neutrogena, "One Less Stress," which was viewed by 6 million people in less than five months, with an average viewer watching for upwards of 2 minutes -- the equivalent of 15,000 30-second commercial spots.
Big Fuel's The Big Think is a platform for consumers, brands and marketers to learn from each other. The site will initially be populated with videos from marketers interviewed at DMA this week. Attendees can stop by Big Fuel's booth, #1863, to speak their mind and tag their content. Using visual mapping technology, Big Fuel will take the thought-generated videos filmed onsite, along with video collected from consumers, and aggregate based on key concepts to www.bigthinking.tv, where anyone and everyone can get more insight into consumer trends or patterns of behavior.
"Our vision is for people to think bigger and less traditionally. It's undeniable that people consume media differently today," said Avi Savar, founder and chief creative officer of Big Fuel. "We wanted to create a place where brands and marketers could meet consumers on their own terms and create a community where they could learn from each other -- a community dedicated to fostering true consumer engagement."
Once live, www.bigthinking.tv will serve as an ongoing platform for insight, thought leadership and constant access to consumer panelists where anyone and everyone can upload their opinions on what consumers really want, identify opportunities and key trends.
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