The media & entertainment industry is a crowded place, with audiences increasingly fragmented across an eclectic mix of platforms including television, streaming services, and digital media. Marketers face the challenge of capturing and retaining viewer attention amidst fierce competition.
The rapid evolution of technology continues to redefine the broadcast landscape, presenting both opportunities and challenges for marketers. From the proliferation of over-the-top (OTT) platforms to the rise of immersive experiences like virtual reality (VR) and augmented reality (AR), staying abreast of technological advancements is imperative for crafting innovative marketing campaigns that resonate with modern audiences.
Capturing audience attention
The broadcast media industry is facing unprecedented technological advancements, and as it writes its next chapter it must navigate new and captivating ways to engage its audiences. In addition, choice of where and when to consume content has never been more prolific.
For any broadcaster, they need an audience for their content. The challenge now, is how to engage, inform and entertain that audience as that it becomes increasingly fragmented.
Sarah Thomas
Marketing and PR Account Manager, Radical Moves Ltd
Personalisation has become a key driver of marketing success, and understanding the audience and how to target them has never been more critical. While broadcasters embrace new technologies, marketers too are harnessing the power of artificial intelligence (AI) and machine learning (ML) technologies to provide audience insights to deliver content in more engaging formats such as video and interactivity.
That need to capture audience attention is not an easy one to navigate, particularly with the growing concern over data privacy and security. Maintaining consumer trust is paramount for broadcasters and marketers alike. In their eagerness to personalise, marketers need to be mindful of the pitfalls!
In such a fluid landscape, creativity is also a key to unlocking viewer engagement by crafting original content over and above the regular TV offering.
Fostering brand loyalty
With the explosion of content, content distributors and platforms, the fight for consumer attention has become fierce and the jewel in the crown for many companies and brands is maintaining customer loyalty. Customer behaviour and brand loyalty are now almost entirely governed by emotional values related to expectations, and these expectations are constantly growing.
Today’s consumers have higher customer experience expectations than ever before, making the need to delight your audience even more important. Neglect them and it’s just as easy for them to terminate the relationship, particularly with the proliferation of OTT platforms, where audience churn is increasingly evident as streaming audiences don’t see a need for loyalty.
People are more likely to be loyal to the show or film they want to watch making it crucial for broadcasters to create and deliver consistent, high-quality, personalised content to foster brand loyalty. Quality content builds trust and keeps viewers coming back, which is fundamental in developing a loyal audience base. No longer is just brand awareness sufficient, it’s all about standing out from the crowd and creating a point of difference.
Communication is also key. Long gone are the days of linear TV where you’d only have perhaps the person you were watching the programme with to dissect what you’d just seen. Delivering an immersive, enhanced experience that encourages audience participation is a great way of creating a sense of community and belonging. This two-way communication not only makes the viewer feel valued but also provides broadcasters with valuable feedback to improve their offerings.
Maximising revenue streams
The aim of the game hasn’t changed – attract the customer, convert the customer – but the rules of engagement certainly have. Also, not dissimilar to other industries, the world of media and entertainment is facing budget cuts, meaning marketing efforts need to be smarter. A multi-channel marketing strategy is a great way to make spend go further and tap into the various places where your audience is consuming content.
Alongside budget cuts, M&E is also facing a slowdown in consumer spending. Data monetisation is becoming a growth area for companies to maximize the value of the data they have to create new revenue streams. With the depreciation of third-party cookies and a growing number of data privacy laws and regulations, collecting and managing first-party data is more important than ever. While customers value transparency and privacy, they are more likely to make a purchase from a brand offering personalised experiences.
Taking on the marketing challenge
In much the same way as broadcasters have seen a dramatic shift from traditional linear TV to a plethora of streaming services, marketers are faced with lots of new shiny ways of elevating a brand’s message or increasing the exposure of the latest technological innovation or new product that promises to change the world.
Whatever your marketing mix looks like understanding your audience is paramount. Increasingly consumers want to watch content that aligns with their interests, at their preferred time on multiple devices.
Getting your message in front of the right person at the right time is tricky, with so many other voices vying for attention. To make yourself stand out you need to be extraordinary. Take a look at how some B2C marketing campaigns can work to liven up a B2B strategy.
The ever-changing media landscape is one to be embraced. Make sure you continue to be at the leading edge with your marketing strategy by understanding what it is you do and who it is that you want to reach. Then get creative and bring that story to life through multiple marketing channels from traditional press releases and thought leadership articles to digital and social media marketing.
Looking for some guidance or help with your next marketing campaign, the experienced and friendly team at Radical Moves can help you confidently navigate the waters of the changed media landscape. Take a look at some of the companies in M&E that we work with for some inspiration or get in touch with the team today.