As a business owner, you know that it is not enough to have an excellent product or service. Statistics show that businesses that thrive have invested in smart marketing strategies. The beauty is that there is an array of marketing strategies available for your business these days.
One of the strategies is what’s known as entertainment marketing. It is the kind of marketing where a business leverages the power of entertainment to create awareness and promote a brand, products, and services. Yes, you can use the likes of movies, celebrities, characters, or event sponsorship, product placement, celebrity endorsements, and much more. Here is everything you need to know to get started with entertainment marketing for business.
Types of entertainment marketing
Celebrity Endorsements
Celebrity endorsement allows you to partner with celebrities to advertise your goods or services. Remember, many consumers tend to buy products that have been endorsed by their favorite celebrity stars. That’s why it is a good way of introducing and scaling products or services to an audience. The idea is to find a celebrity you can match up with your products, services, and brand. For example, if you are selling baby diapers, you can collaborate with an influencer or celebrity who has a YouTube channel and talks about parenting tips and bringing up babies. That way, you will ensure that you reach your target audience with ease and generate more conversion.
Product Placement
This is also known as embedded marketing and it is a technique where you get your branded products or services placed in production like films, movies, and the likes. You can partner with an agency that will help craft powerful joint entertainment marketing programs, including verbal or visual product placement on TV shows, movies, games, etc. For example, you can get your product mentioned in an upcoming movie. Yes, you might have heard of brands getting a mention on some top movies around. You can also use what’s known as brand integration to promote your brand. In this one, your brand pretty much takes the center stage of the plot in a production like a short video, a movie, music, etc. They have been proven to work well in targeting a specific audience.
Online Entertainment Marketing
You can also use entertainment marketing via online platforms like Twitter, Instagram, and Facebook. For example, you can target top entertainment celebrities who can endorse products and brands to their general and more defined target audience via social networks. It is another approach growing in popularity as a useful tool for launching new products, creating awareness, increasing sales, etc.
Benefits of Entertainment Marketing
Entertainment marketing has an array of benefits that your business and brand can tap into. Some of them include:
- Better Fan Engagement: the entertainment industry is one of the most receptive areas where you can increase your brand awareness and create product exposure. If done right, the entertainment channel is able to establish more and stronger connections with the customers, making it easy for you to sell your products.
- Wider Market Segmentation: Once consumer data has been collected through online polls, it becomes easier for you as a product owner to determine where you can invest in advertisements. For example, an online poll can quickly point you to the celebrity star; you can collaborate to market your products and create awareness.
Besides, you can segment the data collected based on prospective customers. For example, you can get to learn about the age group that enjoys a certain kind of music and find out the best celebrity to partner with for that. Also, through data segmentation, you get to create effective customer profiles that are useful in designing marketing strategies.
- Demographic Retargeting: online entertainment marketing also requires that you collect and monitor the marketing metrics That way, you are able to get the trends in the marketing industry and their impact on business. You will also be able to see how you can engage your fans more closely over and again, to leverage cross-promotional opportunities when marketing in the entertainment industry.
Final Word
Again, it is worth remembering that it is not enough to have an outstanding product. You need to put in efforts to take your distinct product or service close to the people. One of the best ways is to tap into what your target consumers love. That’s where entertainment marketing comes in handy for smart brands that are reaping it big. You don’t have to find opportunities on your own, though. Talk to entertainment marketing experts to help find the right opportunities for your business.