The Value Of Placement
Brand integration and product placement are firmly established marketing tactics used by at least 89% of Fortune 100 brands. As with any marketing tactic, success is often only proven to brand management by the ability to measure the activation.
And that ability to measure really comes down to the brand's own KPI's, as what one brand considers success, another might consider a failure. We often hear that many brand managers have concern that product placement as a marketing tactic is too difficult to value, yet that is simply not the case. In this blog post, Hollywood Branded examines 4 easy measurements that every impactful product placement offers.
By The Numbers
Studies state that consumers must be exposed 7 times to a brand to create a call to action with traditional advertising. Yet just one entertainment marketing campaign will raise brand recognition by 29%, and brand awareness by 74%. When you accompany that campaign with a commercial, purchase interest rises to 97%. Those figures alone provide a strong overall base to create a fully customized return on investment (ROI) study.
Seeing results from an ROI plan is more easily obtainable than may be assumed. Before planning your next product placement activation, brand managers can pre-plan on how measurement will be gauged.
1. Traditional Measurement
The traditional measurement tool of choice by most entertainment marketing agencies and brands is based on a combination of brand exposure time on screen, cost of advertising time (which can be translated for television, feature film or digital content), and overall type of usage on screen.
Type of usage is inclusive of character alignment, where and how on screen the brand appears, verbal mention or logo exposure, key messaging or components featured, and how on target the placement is to the brand’s desired audience. These factors are placed into a formula to provide metrics inclusive of ROI value as well as consumer reach, retention and purchase influence.
2. Website Traffic Increase
The second metric ROI gauge requires the brand manager to have access to the brand’s website, and have a tracking system such as Google Analytics in place to measure day to day activity on the site. Depending on how integrated the brand is to the content – with insert shots and verbal mentions being the driving force, brand managers will see truly measurable website traffic bumps directly after airing. Talk Show brand integrations provide excellent ways to bump website traffic.
3. Social Media Chatter
Social media monitoring allows brand managers to not only see where conversations are occurring around the brand – and the brands on screen exposure – but also to bait the social conversation to elicit comments and sharing. Brands can utilize social media software to track and gauge these conversations, or with more limited results, self-track looking for hash tags and call-outs.
The most prized ROI of all is the impact of the brand integration on actual sales. Having your sales and marketing teams pre-alerting retail stores of the upcoming exposure will provide an active chain of feedback for when customers come in and say “I saw that on xyz show and want it.” This really happens. A lot.
Marketers should test what ROI gauges best work for their internal reporting structures before launching their next campaign. You should expect that your entertainment marketing agency will work with you to establish the process, and provide detailed results for every activation. Brand managers can help their agency by providing detail on Google Analytics and sales figure jumps.
Want to listen to blog posts like this instead of reading them? You can check it out on our podcast!
To learn more about making product placement work for your brand, read our blog on 3 Reasons Why Productions Use Product Placement, as well as these blogs:
- 4 Common Myths About Product Placement Debunked
- 10 Surprising Reasons Why Brands Do Product Placement
- 8 Ways To Use Product Placement Assets To Amplify Your Brand Into Sales
- 3 Important Steps In Planning Product Placement Strategy
- Thinking Product Placement Cost Is High (It Isn't!)
Are you interested in learning more about how entertainment marketing can benefit your brand? Download our Product Placement 101 ebook that will walk you through both product placement and promotional partnerships.