Product placement marketing is becoming extremely popular today because it offers many advantages to all parties involved. Branded entertainment promotions have helped many companies significantly improve their results, especially when tied to movies with a high success rate. The following information will highlight some of the uses and benefits of product placement.
First, let’s take a look at what exactly branded entertainment is.
Branded entertainment, sometimes referred to as product placement marketing, is a strategy used to infuse branded products into various forms of entertainment. Basically, brands would offer monetary consideration or pay producers of movies, TV shows, web videos, video games, and other forms of entertainment to include their products in entertainment presentations.
The rise of the film product placement strategy has coincided with declining interest in traditional advertising media. Many companies found that consumers were not paying attention to traditional advertising media, so they incorporated product placement into their marketing strategy to reach a broader audience. Marketers reinvented their strategies and began placing ads in popular movies and TV shows to grab the attention of consumers.
Uses and benefits of product placement
As marketers began using entertainment branding strategies, more and more companies were promoting their products in popular movies and TV shows. These advertisements can be seen in popular movies like James Bond wearing Omega watches; Mission Impossible with Apple Macs; Men In Black promoting Ray Ban glasses and many popular TV shows like The Apprentice, Top Chef, Project Runaway and American Idol.
As such, entertainment branding strategy has become a magic potion for marketers. Due to the huge success of advertising in movies and TV shows, marketers have gone to the next level and started using web video, video games, music videos and other entertainment media.
Product placement marketing offers several advantages to manufacturers, producers, and movie stars. From a marketers perspective, it gave companies the opportunity to partner with famous actors and use movie clips and stills to conveniently advertise other products. As far as the producers and actors are concerned, they earned a substantial amount in fees, as well as the opportunity to endorse brands at various film festivals.
Musicians also benefit from branded entertainment in their music videos and lyrics. Most artists use the proceeds from these deals to offset the full cost of producing their music videos.
Marketers are also using the internet to incorporate product placements into songs that music fans would get from YouTube. In this case, the main advantage is that brands would develop higher retention rates in people’s minds every time artists perform at shows and concerts.
Overall, product placement and branded entertainment strategies have proven extremely effective, as more consumers link certain products to the names of famous actors and singers. For this strategy to work, brands need to stand out prominently while subtly appearing in movies, TV shows, web videos, or video games.
