What marketing lessons should we learn from the Oscars that took place on Sunday (March 4)?
A mega entertainment event, such as the Oscars, attracts millions of viewers all over the world. No wonder, this is the perfect time for brands to use the event as an opportunity to boost brand awareness.
GMR looks at 3 key marketing lessons from the Academy awards that can be applied to brand marketing.
Lesson #1: Strike while the iron is hot
Most marketers are familiar with the saying: “Strike while the iron is hot”, which means to do or act upon the opportunities when they arise. However, only a handful of them grab this opportunity, knowingly or unknowingly.
The long and short of it is that while #Oscars news is trending on Twitter and other social media, this is the right opportunity to target your customers.
In digital marketing, either your brand has to be on top of the digital wave or it e floats somewhere in the sea of many other brands, thus losing the right time to connect with your customers.
So hit the iron and join the world of trends.
Lesson #2: Looks and aesthetics bring life to brands
Oscars are the perfect example to understand why visual appeal matters the most. Believe it or not, despite the onset of AI, blockchain, analytics and the whole world of automation, how brands look are still everything, from the customers point of view.
At the Oscars, celebs aim to dress to kill, trying to outshine each other on the red carpet and to get more media glare than others.
Similar to this, marketing campaigns are all about a strong visual element. Looks don’t just mean the physical appearance or how brands are packaged. A brand’s “appearance” also includes videos and Instagram images, customer service, and social media presence across platforms.
Lesson #3: Targeted marketing influences behavior
Before the actual Academy Awards event, the film studio production firm/studio go the whole hog. A series of pre-event ad campaigns are planned and carried out to promote the film to their target audience.
After all, at the end of the day, it’s the target customers who’ll pay to see the film.
In the real world too, it’s your target customers that matter the most in order for your brand to succeed. Marketers must need to know their customers. They must do their research before spending their client’s marketing dollars on campaigns.
As MR Raghu, MD Marmore Mena Intelligence, told gmr, “The Oscars 2018 reiterated a familiar marketing concept which we already knew, albeit in a different package. Promotion, which comes in different forms, is an integral part of any marketing strategy as companies need to familiarize the product/service in the minds of a consumer.”
Unless marketers have a clearly defined target audience, they will not be able to build a focused marketing strategy.