Why Secure Product Placement
When developing a product placement strategy to increase sales or raise brand awareness, it is important for the brand to figure out what their goals are. Ask yourself, what do you want? Is it a single brand integration that will be supported by co-branded media, a retail campaign PR and social media? Or, is the idea to create a number of strong product placements to engage consumers and assist with brand awareness and sales. Knowing your goal will drive the overall options to leverage for exposure.
Suiting Your Brand's Needs
When you have determined what goals you’re looking to achieve, you now need to assess the best options to secure a brand integration. Remember not all options may apply to your particular goal, so that is why we’re here to detail the five best options to secure a placement.
1. Cash Fee
First, the cash fee option. The brand pays the production a fee to have their product and logo become highly featured and guaranteed in the final edit of the content. Though this does not guarantee a placement, it does make a bigger influence with the production’s decision makers.
2. Trade Out
Consider a trade out. Trade out of the brand provides complimentary products to production such as food or beverages, mobile phone and service or even automobiles. Basically, anything that will help the production lowers their budget.
3. Media Buy
Look at the option of a media buy. The brand leverages their media budget to purchase ads around the content featuring the storyline integration. Primetime TV favors this practice with both Ad Sales and the production working together.
4. Loan Of Product
The brand can also loan their product to the production and provide clearance approval for on screen usage. This saves the production from having to purchase the product. It is also important to note that for higher priced items, the production provides a certificate of insurance to guarantee the return of goods.
Finally, consider promotion as leverage for the brand’s media plan, distribution network or retail footprint. Teaming up with the production for promotion can give the brand an opportunity for co-branded advertising campaign highlighting the release date. This can harness the ability to reach new audiences and receive higher viewership.
Continuing The Conversation
Are you a brand or agency that used entertainment marketing? If so, what strategies worked for you? Join the conversation at blog.hollywoodbranded.com.
Want to have more of your questions answered about product placement? Download our Product Placement 101 infographic!