Today, marketing experts believe that a company must make use of new communication channels to survive and stay ahead of the competition. This is why most companies are now leaning towards product placement or branding entertainment as a new way of communicating with consumers. Through this channel, retention rates will increase even in this fast-paced society, as more people will see and remember media advertisements. Read on to find out why product placement is now an important marketing tool for businesses.
What is product placement?
Investments in branded products and entertainment can be described as subliminal communication channels. Subliminal in this case means that companies are subtly using advertisements in movies or TV shows today to sell ideas, services, and products. In fact, some of these messages are really hard to miss, especially since they feature heavily on the most popular TV shows and movies.
When products are featured in the hottest movies and shows, more people will partner with particular brands and ultimately this will help those companies benefit from increased revenue.
Why do companies use product placement?
Since traditional marketing has proven to be the least feasible approach to promoting ideas and brands these days, more and more marketers are making use of branded entertainment strategies. Whether it’s movies or TV shows, branded entertainment is much more effective when it comes to reaching a mass audience or even as part of custom campaigns to target specific audiences. Although some critics believe that this type of marketing blurs the lines between media content and reality, there is no question that these ads are thriving on both free and paid forms. Of course, all companies would like to take advantage of this medium to increase revenue.
Brand entertainment and product placement are reportedly widely used in fast emerging markets such as China and India. India is said to be in the top five of the global overall ranking for product placement initiatives and is projected to strengthen in the coming years to match US companies. Bollywood is partly responsible for this phenomenal development. as they have embraced branded entertainment endeavors and are even joining forces with top brands like Sony and Reebok.
Generally speaking, although marketers are subtly placing products in ads, the end goal is definitely to create perception among viewers to help increase company results. That is why product placement and brand entertainment are now the preferred option for enhancing brand awareness. This marketing strategy is worth considering if you are looking for a way to stand out and be successful in this competitive market.