A Promotion Playbook: Insights From The Entertainment Industry

Nelly Voukaki, Co-Founder and Chief Customer Officer at Looper Insights, has 16+ years of experience in the digital media sector.

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Today, we live in a world where competing for attention from your dream customer is an intimidating challenge. It has been found that 63% of marketers say their biggest challenge is generating traffic and leads when dealing in B2C. Becoming a master at the art of promotion could be likened to attaining a black belt, but it is the difference between success and failure across all industries.

Amid having to wrestle your way in front of competing messages and striking promotional materials, one sector in particular never fails to succeed: the entertainment industry. To me, it is quite clear why that is, with the industry attracting avid storytellers with a real passion for conveying innovation and creativity.

This article will explore how these tactics can be extended to other industries as lessons learned, with those outside of entertainment being able to benefit from elevated promotional campaigns. I'll uncover three actionable tactics that I have monitored through working with global leading clients in the industry, which will help deliver promotional excellence across a plethora of sectors.

Strength In Partnerships

It's no secret that in recent years streaming services have been cosying up with one another, leaving film and TV fans with a new hope that they will have a one-stop shop with all of their favorite content. Gone are the days of hopping from one service to the next, followed by hours of scrolling. The film and TV industry has had fantastic results cross-promoting these partnerships, being able to extend their reach toward a larger audience.

Fifty-four percent of companies say partnerships are driving over 20% of their total revenue. They haven't taken this task lightly either, making sure that these promotions are practically impossible to turn away from. In a study by Deloitte, 75% of Gen-Zers and Millennials wanted a bundle that gave them access to content across all of their streaming services.

Disney and Hulu, in particular, have stayed consistent in appearing across myriad digital platforms, displaying a wide variety of content alongside visually stunning artwork to promote their tempting bundle offer. Strength is in numbers, and if you have a partnership that fits your service or product like a glove, no matter what industry, you too can benefit from doubling down on some epic promotions to give your target market more than they had bargained for.

Customer-Centric, Always

The entertainment industry prioritizes understanding its audience's behaviors, whether tailoring recommendations and promotions or the content itself to their specific needs for better engagement. If you invest enough time and budget toward a customer-centric focus, any sector can reap the reward of better conversion. A study by Deloitte showed that customers who have a positive experience are likely to spend 140% more compared to those who don� ��t.

That being said, doing the opposite can be a killer. We've seen companies, one too many times, spend years building trust and credibility among their loyal customer base only to pull the rug from under their feet. An example of this was the introduction of advertising-based video on demand (AVOD) to streaming services that were previously subscription video on demand (SVOD) only.

Although the streaming industry succeeded in thinking outside the box, some services came under scrutiny when existing customers were served with the news that they would be required to pay additional fees to remove advertising. If your customers start to feel taken advantage of, you may lose their business altogether with one angry click of a "Cancel Subscription" button.

According to a Deloitte study, at least 48% of respondents said they would cancel their streaming subscription, such as Disney+ or Prime Video, if the monthly fee increased by $5, the price being a dominant value in how they value the service.

Putting the previous point aside, a more positive lesson that can be taken from this is the need to monitor monetization models that are working in other industries and apply them to your own, making sure to heavily promote your new offering.

Building The Anticipation

There is a lot to be learned from the global streaming giants regarding building hype and anticipation around your offerings. Paramount+ recently dominated the digital storefronts to promote its coverage of the Super Bowl LVIII, using clever "1 HOUR UNTIL" and "LIVE" calls to action, accompanied by real-time match scores on promotional assets to lure in users with the fear of missing out on the highly anticipated sporting event.

Prime Video makes a spectacle every year with its Black Friday promotions, giving its users whiplash over the incredible offers popping up on their digital platforms. This is a tactic that can be adopted by any sector, creating a buzz that keeps your customers coming back to check in regularly. Nobody likes the fear of missing out, after all. You just need to ask the question, "What is it that our customer base could get really excited about?"

As mentioned at the very beginning, mastering promotion is crucial for success in today's competitive landscape. By adopting these strategies from the entertainment industry, many other sectors can also start to elevate their campaigns and drive engagement. Prioritizing partnerships, customer-centric approaches and building anticipation through savvy marketing tactics are only a handful of ways in which this incredible industry can inspire others to boost revenues, but it's a great start.

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