In the rapidly evolving world of advertising, where traditional methods are often met with ad blockers and dwindling audience attention spans, forward-thinking advertisers are seeking innovative ways to maximize their brand exposure and drive revenue growth.
Among the emerging strategies, virtual product placement has emerged as a formidable tool that holds immense potential to captivate audiences while generating substantial returns.
By harnessing the ability to seamlessly integrate branded products into virtual environments, advertisers can unlock new revenue streams and propel their growth trajectory to unprecedented heights. In this article, we will explore how it can become a key driver of revenue generation in the modern advertising landscape.
HOW VIRTUAL PRODUCT PLACEMENT UNLOCKS NEW REVENUE STREAMS
Virtual product placement stands as a beacon of opportunity for advertisers seeking to propel their businesses to new heights of growth. By seamlessly integrating branded products within virtual environments, this innovative advertising technique unlocks several avenues for revenue generation and expansion. Let's explore how virtual product placement can become a catalyst for scaling business growth.
By embedding branded products naturally into video content, advertisers can capture the attention and interest of audiences in a way that traditional advertising methods often struggle to achieve. This heightened level of engagement not only increases brand exposure but also establishes a deeper connection with consumers, leading to enhanced brand loyalty and, ultimately, increased sales.
Furthermore, virtual product placement provides a unique opportunity for advertisers to tap into new markets and demographics. With virtual environments transcending geographical boundaries and cultural barriers, businesses can extend their reach to global audiences without the limitations of physical presence. By strategically placing branded products within video content, advertisers can create powerful brand associations among diverse audiences, forging connections that resonate across borders. This expanded reach opens up untapped revenue streams and fosters growth in previously unexplored markets, driving business expansion and market share acquisition.
In addition to broadening reach, virtual product placement enables advertisers to adapt to the evolving landscape of content consumption. With the rise of streaming platforms, audiences are increasingly turning to digital content for entertainment and information. By embedding products seamlessly into this content, advertisers can organically integrate their brands into the fabric of the TV show or movie, blending in with the consumer experience rather than interrupting it. This non-intrusive approach not only enhances the authenticity of the virtual environment but also presents an opportunity for advertisers to align their products with relevant content genres, fostering stronger brand relevance and resonance among consumers. The result is increased brand recall, heightened consumer trust, and, ultimately, accelerated revenue growth.
Moreover, virtual product placement opens up new avenues for monetization. By forging strategic partnerships with content creators and virtual platforms, advertisers can capitalize on the immersive nature of virtual environments to create mutually beneficial revenue-sharing models. This collaborative approach allows brands to integrate their products seamlessly into popular content, offering a natural and valuable experience to users. As a result, advertisers can tap into the revenue streams generated by the content creators while simultaneously driving their own sales and boosting overall advertising success and profitability.
HOW MIRRIAD HELPS BRANDS TO SCALE GROWTH WITH VIRTUAL PRODUCT PLACEMENT
Hallmark’s partnership with Mirriad is a great example of how businesses can use virtual product placement to expand opportunities for advertisers. In addition to their current slate of movies, Hallmarks has an enormous library of content that airs on their linear networks and SVOD subscription service.
As the market gets tight and inventory is low, Mirriad’s digital product placement technology opens up new inventory and gives advertisers an innovative way to leverage that.
"We’re always looking for new technology that will enable our marketing partners to incorporate their brand messages into our programming and reach viewers in an organic way that optimizes impact. Through our partnership with Mirriad, we have quickly surpassed seven figures in incremental revenue. We’re excited to expand our partnership and enable advertisers to leverage this newly unlocked inventory during the holiday season – the most popular, highest-rated time of the year on our channels.”
- Chris Ward, senior VP of Midwest Ad Sales at Crown Media
Univision recently experimented with dynamic product placement through a partnership with Mirriad. T-Mobile, an early tester of the technology, saw a 10% increase in brand awareness when it ran dynamically served units within Univision programming in conjunction with its usual 30-second spot.
Univision's most engaged viewership derives from its telenovelas, akin to American soap operas. Typically, a telenovela is broadcasted daily during primetime for a limited time period, usually lasting just three to four months. According to research by Mirriad and Univision, in-content advertising especially for multicultural audiences led to a 15% increase in ad expenditure and 31% rise in ad awareness.
Mirriad's advanced in-content ad technology empowers Univision to offer advertisers a top-tier platform to directly reach and engage customers during prime-time programming. The service can also be expanded to Vix, Univision's streaming platform, and easily enabled programmatically through Mirriad's new server-side ad insertion (SSAI) capability.
UNLOCK NEW REVENUE STREAMS WITH MIRRIAD
Mirriad leads the field of virtual product placement, providing a plethora of research, industry partnerships, and integrations that set industry standards for virtual product placement.
Our proprietary end-to-end solution simplifies virtual product placement campaign execution, with over 37 patents and driving a consistent record of improved campaign effectiveness, proven by Kantar.
If you're looking for a game-changing solution or just curious about virtual product placement, Mirriad is your go-to. Join the ranks of advertisers who already made the switch and get in touch today to learn how our innovative approach can take your campaigns to the next level.