Product placement is not a novel idea. Since people had an audience to capture, creating creative ways to appeal to the population has always been done. Compared to that, though, today’s product placement industry is enormous. In 2021 alone, global spending for product placements reached $23 billion. With everything from social media to streaming platforms putting out branded content, virtual product placement (VPP) is on the steady rise.
If you have been living under a rock and haven’t got a clue about VPP, here is everything you need to know. VPP allows brands to add their products to media content post-production. If you take the traditional route to product placement, you will need days of planning and strategising to seamlessly incorporate the product into a scene. However, VPP removes all the associated hassles and allows you to advertise your brand in novel ways and create better ad experiences.
How Does Virtual Product Placement Make a Difference?
Flexibility
Marketing is all about timing. But what are the chances you can find the right content for your brand before the production goes on the floor? With VPP, you have ample time to find a story that aligns with your brand and incorporate your product only during the post-production phase. This flexibility can save lots of worry and resources for everyone involved in the process.
Complementary to Traditional Brand Building
VPP does not mean you have to forego the traditional methods of building your brand’s name. You can still work on traditional video ads and reinforce the brand name with VPP. You can have a holistic approach to a video ad campaign that optimises your content. With exceptional marketing, you can integrate all the channels of brand building and achieve better results in any future advertising venture you make.
Feature on Premium Content Platforms
If you want your brand to stay relevant, you must be on top of the trends. Be it on TikTok, Instagram, or any OTT platform; your brand must throw a hat in the ring whenever a trend blows up. By attaching your product to culturally relevant moments, your brand name will circulate in the target audience and trickle into new niches.
Better Target Audience
Product placement on your favourite TV show or movie will undoubtedly prompt a purchase. With Gen Z and Millennials growing up on a steady media diet, they are even more likely to make purchases when something is featured in entertainment. Even though one may have never tried it, watching Ghostbusters makes you want a Twinkie, and most Korean dramas make you reach for an instant ramen pack.
Drive Brand Recognition and Purchase Intent
An exciting story surrounding a product endears it much more to the viewers. VPP guarantees that the placements are effective in lifting the key brand metrics. Some of these include product recall, brand favorability, and purchase intent. When viewers are exposed to virtual placements, they demonstrate better product recall and an improvement of the product they are presented with. This means that they are more likely to purchase from your brand when they come across it while shopping.
Final Thoughts
Virtual product placement is the best option, and the success rates are staggering. In today’s economy, the audience’s attention is the hottest commodity. Thus, advertisers need to prioritise the brand messaging over anything else so that your product rises above to connect with the audience on a different level.
