Marketing Report
[Marketing Week] Bob Koigi: How product placement is influencing consumers’ purchase behaviour

[Marketing Week] Bob Koigi: How product placement is influencing consumers’ purchase behaviour

As marketers look for innovative ways to position and push their brands to consumers, product placement is emerging as a strategic model that is giving value to marketers and winning over customers.

A recent report by BENlabs, an entertainment AI company for brands and creators, for example, indicated that up to 63% of consumers have positive emotions after seeing products or brands in TV content, while 47% say they enjoy seeing their favorite brands in shows.

Marketers are overwhelmingly optimistic about product placement – In fact, 86% of U.S. marketers who've tried product placement rate it highly, while 81% consider it to be an effective marketing channel. Additionally, 91% see it as effective in reaching non-ad supported audiences.

To top it off, eight-in-10 marketers consider AI to be very important when making a decision about what marketing company to use for product placement opportunities.

Still in marketing, Marin Software, a provider of digital marketing solutions, has announced the launch of two powerful products, Connect and Ascend.

These new products give performance marketers unprecedented insights and AI-powered tools to improve results across performance marketing channels, including paid search, social, app advertising, and retail media.

This comes as a new study by tech company Capterra indicated that 80 per cent of marketers are likely to try Threads. At the same time, 66% believe that it will ultimately make Instagram and Facebook weaker for marketing purposes.

In the artificial intelligence space, Pecan AI, a player in AI-based predictive analytics for analysts and business teams, has announced that it has been named a Meta Business Partner within the Measurement specialty.

This achievement reflects Pecan’s deep experience in marketing mix modeling (MMM) and marketing campaign measurement using machine learning.

The Artificial Intelligence (AI) in Social Media market is gearing up for a remarkable surge, with estimations indicating a substantial escalation from $1.64 billion in 2023 to an impressive $5.66 billion by 2028 according to a recent report by Research and Market.

In mergers, collaborations and partnerships front, InMarket, a player in 360-degree marketing intelligence and real-time advertising, has entered into a partnership with Pinterest, a global platform for inspiration and discovery.

Pinterest will leverage InMarket's award-winning Lift Conversion Index (LCI) measurement solution to help advertisers maximize the effectiveness of their advertising on the platform.

Roku has announced a partnership with Instacart to help consumer-packaged goods (CPG) advertisers make TV advertising more relevant and performance-driven across the entire streamer’s journey.

 Across select pilot partners, results showed that on average, people who saw the ad on the Roku platform purchased more of the advertised products on Instacart versus the average customer.

As part of its ongoing commitment to addressing pollution caused by online media delivery, global programmatic media partner MiQ has announced a new partnership with groundbreaking streaming tech provider, SeenThis.

Together, the pair are modernizing creative delivery for eco-conscious brands and agencies, using the power of streaming to advance more sustainable MiQ-driven campaigns across the world.

 In other news making headlines this week, Nestlé (brand value up 8% to $22.4 billion) once again earns the title of the world’s most valuable food brand, according to a new report from brand valuation consultancy, Brand Finance.

Nestlé's brand value has steadily increased this year due to strong sales growth across its extensive and varied brand portfolio.

GroupM, WPP’s media investment group, has announced the introduction of new protections against Made For Advertising (MFA) websites and domains.

The additional protections, which leverage advanced detection and domain tracking technologies, are made possible through a new partnership between GroupM and Jounce Media, an industry leader in programmatic supply chain management.

Carlsberg Sverige has continuously been working to reduce the carbon footprint in all parts of the business, driving local actions and results towards Carlsberg Group’s ambition for a ZERO Carbon Footprint. Now the next step is taken, with electrified transportation being deployed between the brewery in Falkenberg and the transshipment terminals in Gothenburg, Malmö, and Helsingborg.

Bob Koigi is an editor at Marketing Report One

www.marketingreport.one

 

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