“If you really think about it, when watching television, you have product placement all the time.” – Jay Chiat.
Do you know the first recorded instance of product placement? According to research by Jean-Marc Lehu in 2007, it dates back to the 1800s when movies produced by Auguste and Louis Lumière were made only at the request of one of the employees at Lever Brothers in France. The films usually featured Sunlight Soap, the first known record of Paid Product Placement in films.
However, in the digital-first age, diminishing billboards have knocked down the traditional methods of product placement. As a result, the rise of events, live streams and OTT platforms are galvanizing advanced advertising techniques like Virtual Product Placement (VPP)!
Even small business events can capitalize on VPP techniques to partner with brands and boost their reach. Scroll further to understand how your events can be the next big deal with VPP.
Traditional Ads Vs. Virtual Product Placement at Events
What does traditional event advertising look like, and is it still relevant? The answer is YES! For example, Häagen-Dazs partnered with Wonderland at Wimbledon to install a photo booth to draw attention to its new limited-edition Strawberry & Cream ice cream. They even called it the “Official ice cream of Wimbledon.”
The campaign was successful and ignited a string of user-generated content on social media channels. But, do you know how to reach millions of audiences at once without breaking the bank?
A recent move by Amazon showcases the effectuality of Virtual Product Placement! In the series starring Heidi Klum and Tim Gunn called ‘Making the Cut,’ Amazon demonstrated a subtle VPP insertion of an M&M’s poster in a scene on Prime Video. What was the impact? Amazon reported that a consumer packaged brand saw a 14.7% jump in its purchase intent after a VPP insertion. Quite the game-changer, right?
Similarly, the VPP gimmick need not necessarily be a post-production move for virtual or hybrid events. For example, during live streams, you can schedule in-stream ads before, after or during your broadcast and monetize them! Likewise, platforms like Facebook enable users to use their Live Producer Dashboard to add in-stream ads under monetization.
For event planners, it’s time to look into how they can partner with global brands to ‘televise’ their products or services in front of the event audiences. VPP could even mean additional revenue streams for organizers!