I heard some people, incl. Google CFO Patrick Pichette, claim that Old Spice is the future of marketing.

Not so.

Viral marketing does not equate to increase in sales.

The same was said of Budweiser and their “Whassup?” campaign. In fact, sales of Budweiser declined while the ad / meme was running full swing. Increasing awareness does not increase sales unless there is a clear value proposition, of which there was none. Eventually Budweiser went back to traditional advertising with horses and cowboys, and sales resumed.