True – they had nostalgia going for them. Around since 1959, they reach a cross-generational market. But, there are three ways their success has propelled them to the top that might be unseen.
1. THEY THOUGHT BEYOND A SINGLE TARGET AUDIENCE
When my daughter and I saw Elemental in the theaters, the trailer said, “for those who love Barbie,” and “for those who hate Barbie.” This movie could have put its focus on a singular audience, but this is one way they drew attentione to everyone.
2. THEY INVESTED IN MARKETING
Even watching from afar, this is every marketer’s dream. An average marketing budget for movies is 50% of the production cost. This Barbie movie is reported to have invested more than 200% of its budget – exceeding the cost of overall production. AND they started the campaign early as opposed to last minute.
3. THEY FOUND CREATIVE WAYS TO PARTNER
Where do I begin? Food (But, Burger King – ew, I can’t), clothing, accessories, nail polish, rugs, glassware, couches, candles, floats, luggage, travel, other movie premieres, dating apps….
The list goes on.
While we don’t all have the Barbie dream-budget, these three core concepts should be applied to EVERY marketing strategy.
Go beyond your target audience, place an importance on the investment you make in marketing, and get creative with partnerships.
