The ads, which will run both on BuzzFeed’s destination site and through its ad network, are discounted based on how viral they are.
How can BuzzFeed know this?
Advertisers promote content that they have already submitted to BuzzFeed as unpaid content, or that they have run on their own sites using BuzzFeed’s tracker. BuzzFeed provides a dashboard for monitoring the viral performance of any piece of content in its network. When someone wants to pay for added exposure with Boost, BuzzFeed offers its promoted slots up at $5 CPMs, but promises “bonus impressions” based on that piece of content’s viral performance to date, lowering eCPMs. If the content becomes more viral after the campaign begins, BuzzFeed automatically boosts the discount.
“It’s like Quality Score for virality,” BuzzFeed President Jon Steinberg tells us. The site is all about promoting viral content, so this ensures the ad units will be filled with content that’s relevant and appealing to its audience. In the future, Jon says, BuzzFeed may outright refuse to run content that isn’t sufficiently viral.
The program is in invite-only beta for now, but BI readers can sign up here, using the code: 9bczxo
Here’s a video of Jon explaining the new ad platform: