Making magic, using logic
The Ogilvy Branded Entertainment Assessment Model TM
Advertising has never been more fun. The entertainment industry is booming,
and brands are getting in on the action, investing an increasing share of marketing
dollars into branded entertainment (“BE”) programs. There is a tangible excitement
about the opportunity to create content on behalf of brands. But there is also a
real fear of squandering precious budgets on a platform with limited accountability.
According to a recent survey by the Custom Content Council, 39% of US
companies expect to spend more on branded content in 2012. With the inherent
risk, why are they spending more? In short, many brands believe that BE works.
History has proven that brands can borrow the equity created through the magic
of entertainment; today, brands can actually create that magic themselves, too.
We have reached a point where the level of investment and focus on BE cannot
reach a critical mass without a standard of measure. As BE takes a larger role in
the marketing mix, BE programs need to tie into overarching business ambitions
and link specific program objectives to measurable outcomes. Strategic design and
accountability are required in all major elements of the marketing mix, and now
that BE is playing a larger role, those same rules apply.
The graveyard of failed BE programs is littered with great ideas, even great
executions. Ultimately, the programs that failed did so because they did not align
with brand business ambitions and precise strategic objectives. These failed ideas
were too caught up in the magic without building on proper logic. The lessons
learned: an opportunity was too exciting to pass up, the property seemed a perfect
brand fit but didn’t consider the target audience, the distribution plan wasn’t
thought through…to name a few.
By 2015, the worldwide entertainment industry is projected to be worth $1.8T.1
Not only do brands need to evolve the ways in which they communicate with
consumers, they also have the opportunity to create new revenue streams in doing
so—becoming media owners and publishers. By creating entertainment authentic
to brand ideals and rooted in the logic that drives all elements of the marketing
mix, brands can employ the magic of entertainment effectively and profitably.
To guarantee success, we must establish a standard for BE measurement, determining
associated metrics and building a dashboard of appropriate data. Through this new
measurement standard, the Ogilvy BE Assessment ModelTM
(“BEAM”), BE programs
can be assessed consistently, giving marketers the assurance they need to make the
leap into the content-led marketing world.
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