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The Business of Hollywood: 5 Marketing Lessons Entrepreneurs Can Learn from Film Studios

Here are five Hollywood marketing tactics that you can leverage for your small business.

4. Partner with companies that have complimentary offerings.

As a movie goer it’s likely that you have a genre preference – romantic comedies, thrillers, comedies, etc? The studios also realize this – and leverage it. Therefore, in preparation for a new release, they’ll often bundle theatrical trailers with other complimentary movie promotions.

The same strategic decisions could benefit your business. Consumers that will potentially purchase your products have a high propensity to purchase others as well. Your job is to find out which ones, leverage it and strike the perfect deal.

Do you sell footwear? If so, can you partner with a clothing retailer to add value for both customer bases? Or do you run a hair salon? If so, could you offer make-up artistry on opening day from a complimentary brand? As you can see, the possibilities are endless.

5. Give select media outlets a first look at your launch.

Hollywood studios target specific magazines and share an inside look early; and consumers end up reading about it. You can do the same.

Get creative. Find a way fun way to engage media outlets. If you’re opening a new bakery, send cupcakes to editors. Have a new app that you’re ready to release to market? Send it to the media first and gather their reviews.

Launching a new restaurant, throw a media preview for the press and roll out the red carpet. Targeting the right media outlets and developing relationships can positively impact your business for years to come.

 

What other lessons can entrepreneurs learn from Hollywood movie marketing? Let me know in the comments below.

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Photo Credit: Blanco

 

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