Oscar’s red carpet product placement
By Dr. Iris Mohr, Chief Editor and Founder, Marketing Fashionista
The Academy Awards aren’t just about the movies. They’re about the fashion and what the stars wore on the red carpet at the year’s biggest event.
The Oscar event is one big product placement “crunch” to promote as many fashion brands as possible. According to Susan J. Ashbrook, author of “Will Work for Shoes: The Business Behind Red Carpet Product Placement,” “The Oscars are the Super Bowl for fashion.”
A high profile event like the Oscars can boost sales more than traditional advertising. Research confirms. Nielsen Media Research has shown that product placement can raise brand awareness by 20%. In fact, when when a brand gains added awareness, the attitude toward the brand is more positive, and its recall is higher. That means stronger intentions to purchase the brand.
Boosting brand likeability is associating the brand with a celebrity that is attractive, credible, and compatible with the look. Says Ashbrook, “It’s more about name and brand recognition.” Take Scarlett Johansson. When wearing Dolce and Gabbana on the red carpet, people are more likely to buy the brand’s perfume called “The One,” which costs $90 for a 2.5oz bottle and is also marketed by Johansson.
The Oscars show how social media interacts, extends the reach of, traditional entertainment venues. Millions of viewers tuned into the Academy Awards to find out who wins and see who makes the “Best Dressed” lists, which gave the online community a lot to talk about. Social media comments about the Oscars tripled this year compared to last.
This article from Reuters, contains some pretty staggering numbers. An excerpt:
“The Internet-tracking firm Bluefin Labs counted 3.4 million Oscar-related comments on Facebook and Twitter, up from 966,00 for the 2011 Academy Awards telecast.
Those numbers are likely to be significant for Oscar producers, who could point to viewers’ higher level of social media engagement to win greater advertising revenues for next year’s show.”