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Marketing is a daunting task for many businesses, most especially startups that have no idea of where and how they should be marketing. This makes it a hefty expense that takes up a lot of time and resources- two things entrepreneurs don’t want to part with.
Even creating a marketing department is an expensive endeavor. Without careful planning,, the marketing department will not be a success. As such, startups have started thinking outside the box and have come up with new and lucrative ways to get their products and services known.
Enter embedded marketing!
What Is Embedded Marketing?
Also referred to as product placement, embedded marketing is a creative style of promotion that makes it possible to see branded products or services featured in social media videos, music videos, movies, and other different types of video content.
Needless to say, marketing is one of the most important elements of a startup. For instance, a movie character may mention the product within their storyline. This will bring the desired messaging to the audience’s attention without distracting them from their viewership.
Because thousands of people from all over the world, already have access to these videos, a startup that uses this marketing method places itself in a smart and strategic position.
With this kind of indirect marketing, brands can create awareness, and gain the visibility that they need across different platforms. Already, these are two huge benefits that will help in propelling startups in the right direction.
With embedded marketing, users are less likely to identify products and services as general advertisements but focus on their key message. This creates a high level of awareness as compared to traditional methods of advertising.
While embedded marketing targets large audiences, it’s only possible to a certain extent. For instance, a startup a startup can opt to feature in a movie production that appeals to a specific demographic. This means that these products and services will only reach one demographic and not the other.
Also, because of the benefits embedded marketing brings, it’s a costly endeavor. It is challenging to execute as it involves working closely with an array of production companies to capture the desired content. This in itself can be time-consuming.
The good news is that this kind of marketing is not all about cash exchange. After all, startups are looking to save money for future expenses, not to spend it. Embedded marketing offers a barter trade of sorts where it can do for the exchange of goods and services.
Is Embedded Marketing Effective for Startups?
According to research findings by The New York Times, 38% of surveyed viewers who witnessed product placement in movies expressed a positive response to the method of advertisement. This means that there was an immediate increase in the number of leads for a startup.
These viewers thought of embedded marketing as a favorable method of marketing in comparison to transitional alternatives. And we haven’t even got to the best part!
Embedded marketing influence the mind and decisions of your company when you associate with big brands. When considering these advantages alone, it is no surprise that millions are spent on product placement by startups, in the U..S alone.
Embedded Marketing for Startups
As aforementioned,embedded marketing is costly and requires multiple representations in the video and film world. Even so, startups are still finding ways to meet these expenses with modest promotional budgets.
Startup owners are working to identify video productions that mostly target their demographic so that they don’t waste their resources outside of their targeted consumer groups.
There are production groups that provide ready audience data but you can carry out research to find out the most suitable options.
There are those who also liaise with streaming services for embedded marketing collaborations as they can offer more competitive pricing.
Lastly, there are flourishing companies that invest in successful pilot placements and ask for collaborations with startups,. Where this kind of marketing is concerned, the opportunities are endless.
Is Embedded Marketing Right for Your Startup?
Whether embedded marketing is appropriate for your startup or not comes down to the flexibility of your marketing strategy as well as the innovativeness of your business and your overall promotional budget.
Even if you’re operating on a small budget, experimenting with this type of marketing will pay off greatly in the long run. It will not only kickstart your business growth but also expand your consumer base.
Looking to leverage embedded marketing? A startup marketing agency is all you need to get started!