When it comes to spending their own money, advertising executives may choose not to advertise because that’s too costly. Instead, according to a panel discussion, they may choose product placement, sponsorship, and digital PR.
In a panel discussion of “New Idea Agencies” that appears in the July/August issue of Fast Company, Carl Johnson, cofounder of Anomaly, said of marketing their own brands, “One of the most amusing things is, of course, we haven’t bought a single ad in support of any of our brands. Not one… Why would we? You can do so much if you know what you’re doing with product placement, sponsorship, digital PR. It’s that whole ‘I haven’t got any money, so I’ll have to think.’ It makes you much better at grinding out media without paying.”
That’s a wonderful tribute to the power of PR. Check out the entire article, “More Creative Shops Are Commercializing Their Own Product Lines: With major advertisers cutting costs, creative shops are increasingly commercializing their own product ideas.”