The Most Captivating Ads Aired During Oscars 2023Reading Time: 3 minutes
The Academy Awards, popularly known as the Oscars is one of the most anticipated events of every year. The combination of Hollywood glamor and fashion attracts a considerable number of audiences across the globe. The 95th Academy Awards, which took place on March 12, 2023, attracted 18.8 million American audiences, which is 13% higher than the previous years.
With such an enormous viewership, the Oscars present an incredible opportunity year after year, setting the stage for businesses with them to showcase their products or services to a global audience like never before. In this blog, read strategies that two of the world’s most iconic brands, Rolex and Verizon, utilized during the 2023 Oscars to take their brand engagement to unprecedented heights.
Brand Engagement Strategies Deployed in Oscars 2023
The Oscars provide advertisers with a unique platform to showcase their products to a highly engaged and targeted audience. These strategies show how advertisers used this platform to showcase their brand values and connect with their target audiences.
1. Be Ready to React in Real Time
In order to maximize your audience reach during an awards ceremony, effective digital marketing requires timely and reactive efforts. It is crucial to carefully select the appropriate moment to produce and share compelling content to capture the attention of as many viewers as possible.
2. Make it Like a Movie
Rolex’s advertisement aired during the Oscars is a good example of this. The brand compiled snippets of the films to attract its target audience and match it with its product. Rolex as one of the major sponsors of the event showed up in full force in every major category with new ways to tell stories. The strategy earned a huge amount of impressions. So, it is evident that in-stream advertisement is a smart way to get audience engagement.
3. Connect the Brand with Specific Films
If the brand coincides with the films or documentaries nominated at the Oscars, the advertisers must make the most of it. Verizon showed up at the Oscars with this idea to promote their new product. The captive visuals were enough to create a personalized experience for the audiences without mentioning the name of the films.
4. A Budget to Buy Ad Inventory
Given that the Oscars is an annual event and the brand’s niche may not align with any of the nominees, it is crucial to seize any opportunities that arise. Therefore, it is advisable to put in extra effort by producing high-quality content such as infographics or interactive studies. This approach increases the advertisers’ chances of making a lasting impression.
In 2022 the advertising market remained difficult. Nevertheless, the 95th Oscars appeared resilient in terms of selling out ad space for 2023. This year, the prices for a 30-second commercial spot ranged from $1.6 million to $2.1 million, which was lower compared to the peak of $2.2 million last year. It is worth noting that the majority of Oscars spots were sold in advance rather than in the scatter market.
Achieving visibility during the Oscars can be pretty challenging. To excel as an advertiser, one must possess creativity and sharp thinking skills. Brands can leverage real-time events to maximize engagement and successfully integrate into the digital landscape, which is predominantly influenced by maximum audiences. It’s imperative for advertisers to capitalize on every opportunity for brand awareness and not miss a single chance to reach their target audience.
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