With an estimated $94 million opening weekend, a new record high set for an August debut and a 2017 sequel already in the works, Guardians of the Galaxy is quickly becoming legendary in business and pop culture circles.
Great movie reviews and an awesome soundtrack aren’t the only reasons why this film is making so much money. Some serious business-savvy was used to create and promote this film.
Though most business owners don’t have Marvel-sized budgets to work with, the film’s business practices offer lessons that can help Fortune 500 companies and small businesses alike.
Build a Strong and Strategic Brand
Marvel Studios has become a money-making behemoth in recent years with the success of films like The Avengers and the Iron Man franchise. But though the studio has the power of Marvel behind them and many established characters to work with, superhero movies can easily go wrong if they don’t take in enough money to cover the large production and marketing costs it takes to make such a film.
Creating a strong brand has helped to keep Marvel successful in their film endeavors. Planning has helped them reach and sustain their box office success, as each film is used to start creating the hype for the next one.
Using “Easter eggs,” intentional hints to future movies, in Marvel’s films helps build a following for upcoming movies long before they are released. Marvel Studios is a great example of the importance of creating a strategic long and short-term business plan.
Focus Marketing Efforts in the Right Places
To create the biggest August movie opening of all time, Guardians of the Galaxy had to first create some buzz. Using major events like the NBA Finals to run the extended movie trailer helped expose the relatively unknown comic book characters into the public spotlight.
Targeted promotion also helped, like having a panel during San Diego Comic-Con. Interacting with people who were already interested in Marvel helped to create some loyal fans before the movie came out.
Continuing with the strategic cross-promotion that works so well in Marvel films, the studio even used the popularity of the LEGO brand to promote Guardians of the Galaxy. After the promotions for the film had been running for a while, Marvel released the same promotion again, using LEGO pieces to recreate it.
Not only did the revamped ad go viral, but it was a smart way to show off the LEGO products that would be available to the public once the film came out. Instead of a scattershot marketing approach, businesses should channel Marvel’s targeted promotion strategy.
Be Creative with Promotion
LEGO ads weren’t the only creative element that Marvel used to promote Guardians of the Galaxy. They created an entire galaxy of promotion opportunities with their Galaxy Getaways website.
This fictional travel agency allows visitors to navigate through the wonderful worlds in the film, offering street views, activities and destination information for different planets in the Guardians of the Galaxy universe.
The website acts like a fully functional travel site, but it highlights the fictional places seen in the film. Letting the audience interact with a product or service in a fun way without making a sales pitch is a strategy that content marketers use to increase engagement and deliver results.
Incorporating the planning, strategy and creativity used in Guardians of the Galaxy to a business could help drive up the profits… and the fun.
