Contrary to popular opinion, product placement ROI (return on investment) can be measured and tracked, and the impact of a well executed product placement can be seen at every stage of the marketing funnel.
Seeing your product take a starring role in the shows, music videos, movies, or other entertainment your target audience engages is rewarding. However, to be considered a success, any marketing effort needs to tie back clearly and unequivocally to brand marketing KPIs.
Aaron Frank, BENlabs SVP, Strategy, Research and Insights explains how a well executed, AI-led product placement strategy isn’t just about “vanity metrics,” it’s about driving meaningful results against your brand’s core marketing KPIs.
Measuring Product Placement ROI: Video Transcript
When brands ask me about ROI for product placement, I usually respond to them back with a question and that question is: how are you measuring ROI for the rest of your marketing campaigns? Which KPIs do you currently use to understand whether a marketing campaign is effective or not?
We’ve been working over the last few years to build full-funnel measurement capabilities for product placement and no matter which KPI you’re interested in, that’s what what going to look at in our campaign.
The next piece is really making sure that, even before the campaign begins, we’re getting you into the right piece of content that’s going to resonate for your audience. And that’s where the AI really comes in.
Through AI we’re able to understand which pieces of content are likely to be the biggest hits and which ones are likely to reach the audience that’s going to potentially buy your product. We’ll use AI to do audience mapping that helps us to really get insight into who your audience is and which pieces of content they’re most likely to watch.
From there we can integrate your brand into the content and then measure it all the way from top of the funnel: understanding reach and identification. To the middle of the funnel: understanding cultural relevance and whether the pieces of content you are in broke through the cultural clutter. To brand lift studies that give us a sense of attitudinal changes or behavioral changes… all the way at the bottom of the funnel that include visits to websites to actual CPG per purchases and sales.
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