If you were watching the Super Bowl last weekend, you might have noticed the awkward product placement of Budweiser by Peyton Manning. For those of you who did not see, take a gander.
Courtesy of BarstoolSports.com
There are many estimates that this little plug, and one that happened later on, were worth about $14 million in advertising for Budweiser. What’s even more interesting is that Manning didn’t get paid for the endorsement.
So why did he do it? Manning made the plug because he owns shares in two Budweiser distributors in his native Louisiana. Even though it was awkward, Manning understands the value of product placement at the right time. He understands his audience, the situation and relevance (a celebration), and brand. He understands his audience has bought about 50 million cases of beer for the Super Bowl and that they will spend about $15.3 billion in Super Bowl related purchases. See stats below:
You will find more statistics at Statista
Why Should You Care?
If you are a small to medium sized business, why should you care about this? Manning is teaching us that there are opportunities to give our companies and products placement. He also exemplifies the importance of utilising the people who can bring the most value to our products and brands.
Recently I have been working with a customer who is an artistic glass distributor. They sell glass supplies and tools to artists who then turn that glass into beautiful works of art. The artistic glass community is a close knit community that relies on each other for new ideas and techniques to improve and advance their craft. My glass distributor understands the value of these interactions and has started to forge relationships with community art centers and studios. By understanding their needs, and providing the glass materials and tools to meet those needs, they have started to create product placements within the artistic glass working community. Their products and brand are starting to showing up in artist’s pictures, videos, and classes online. This provides almost instant credibility and trust with the consumer.
Although most small to medium sized businesses will not have a Peyton Manning pitching their products during the Super Bowl, there are still many opportunities for them to get valuable product placements. Spend some time with your customers, and understand the value they bring. Work to improve your company’s value by helping customers get better at using your products to their fullest extent. Once that value is realized, customers are more likely to mention your product(s) and brand at the right time. It could be a game changer.