Is your company pouring money into television commercials? It might be a stretch to say that television commercials are no longer a viable form of advertising, but it’s not too far from the truth. Facts are facts, and they’re stubborn things. So let’s take two facts into consideration and explore why your advertising dollars can be much better spent.
Millennials have finally displaced Baby Boomers as the largest block of consumers. It took a while, but it was inevitable as the Boomers got older and retired or passed away. Many people still think of teenagers and college students when they hear the word Millennials, but the truth is that much of this generation is now in their late 20’s and early 30’s. They’ve grown up, got jobs, and started families, and now they comprise the biggest block of purchasing power in the US. If you’re still putting your advertising money into mediums meant to attract the attention of the older generation because you think that’s where the buyers are, it’s time to realize that time is passed.
Millennials are the first generation raised completely in the digital age. They take streaming content, social media, and other digital staples for granted. It’s not something new for them to check out, it’s the way the world has worked for as long as they can remember (as an adult anyway). Generation X can still remember the dawning of MTV, cable news, video games, and the internet. Heck, most of them can still remember microwaves and VCRs coming into existence, let alone CDs, DVDs, and other advances that are practically stone-age technology today.
They don’t turn on cable TV, they turn on Hulu. And they pay an extra few dollars every month so that they don’t have to watch commercials. Those that still use cable have DVRs, so that they can record their shows and watch them when they want – and skip through the commercials. TV commercials aren’t quite as useless as print ads in a magazine or newspaper just yet, but they’re well on their way.
When the standard behavior is skipping commercials or paying not to have them, advertising has to change. That’s why product placement is growing so rapidly as the best method for advertising in movies and advertising on television shows. When someone streams the new episode of Empire oh Hulu, they aren’t going to skip over a scene because Terence Howard uses an Apple computer or drinks a Pepsi. But the power of advertising is still present, and even more powerful because the viewer is emotionally involved in the scene.
Product placement as an advertising strategy is also inherently far less expensive than TV commercial advertising, which allows for smaller players to get involved – if they know how. Agency 850 is a leader in product placement as well as film and television financing, and we’re expanding in these areas with our new office designed to take advantage of the exploding opportunity of film production in Atlanta in a addition to our office already exploiting the opportunities offered by film production in Florida.
If your company is ready to move into the new age of advertising and get your name out through the incredible opportunity that product placement offers, get in touch with us today.