Not necessarily new, but a concept that is long overdue and underrated and seems to have been underutilized by many in the industry for a long time. Today, brands have an unprecedented opportunity to position themselves through all forms of digital and terrestrial pop-culture media that has shifted from “branded entertainment” to entertainment by brands.
BMW has always stood out to me as a company with the hutzpah to explore the idea that consumer brands can be valuable providers of entertainment and the new Mission Impossible film is further testament to successful brand positioning within the entertainment ecosystem. BMW stars in a multi-media/screen/platform interactive campaign that reenforces the brand’s attributes quite effectively, and lets not forget the feature film starring Tom Cruise… and co-starring BMW.
The average cost of producing commercial content is in the hundreds of thousands per minute (sometimes more,) and spent on content that may fall within time-shifted audiences and (interruption) ad-avoidance. The idea that brands are the providers of entertainment value has been removed from the traditional TV equation, and average consumers do not credit the advertisers for the programming they watch.
When you compare the average cost of producing commercial content to longer-form content, it’s easy to see the return on investment. When feature films and hit TV shows are being produced for a fraction of the cost of most national commercials and that’s not including placement of the media, which leads me to my next point…
Whether you realize it or not, the gatekeepers and boundaries to multiple (consumer) screens have shifted, including the TV. There are many efficient direct-to-consumer channels open and available, these are platforms that are not necessarily constrained by time. Yes, it does take expertise in the entire ecosystem to build a multi-media, multi-platform media brand/property, but it is expected by digital natives and happening now with or without you.
Every brand should and will eventually have a “studio” arm for producing long-form video-centric content, either owned or outsourced — a content-driven communication platform that delivers dynamic brand messages in real time through content that delivers entertainment, information and social value.
I am not suggesting that brands stop producing and placing TV commercials, nor am I suggesting that BMW will be the next Oscar nominee for best supporting actor — what I am saying is that the foundation of branding is rapidly changing, many digital natives are grown-ups with disposable incomes and their own households and key behavioral motivators that once drove purchase decisions have changed.
Brands are now producers, curators and programmers of multi-media content. Brand messages should be delivered through storytelling and consumer engagement is accomplished by providing entertainment, information and social value with participation, and as a “studio,” brands need to develop media properties and direct-to-consumer distribution channels.
