Posted by: jthomson in Untagged on 23 July 2010
Right, I'll admit it. Like millions of people around Australia, I have become a bit of a MasterChef junky over the last month or so and will be glued to the box on Sunday to see who wins the finale.
What's been interesting about this series from a business point of view is the scrutiny that has been placed on the show's revenue generation model, which uses a complex mix of partnerships, product placements and traditional advertising to generate millions.
So how can SMEs get a slice of the action? If you're not a food company with deep pockets, it won't be easy.
But there are some marketing ideas that I've picked up while watching the show that could spark you into action.
While the show's big advertising partners – like Coles – have received a lot of attention, it's also been interesting to see how all the guest chefs have been given the chance to give their own businesses a big plug.
The lesson here is that being seen as an expert – and that might mean speaking at events, appearing at conference panel sessions or writing a blog – allows you to position you and your business as a credible market leader.
The product placement in MasterChef is very obvious and very expensive, but there are plenty of other shows out there – can you get your product onto another (cheaper) show and highlight how it works in a memorable way?
Big media events like MasterChef launch lots of internet search traffic, so using search engine optimisation and search engine marketing strategies to tap into this is a great idea. Watching Google's Insights for Search tool is a good guide to hot search trends.
What gives the show its credibility is the judges – they are experts in their field and when they praise a dish, we believe them. To me, this highlights the power of testimonials and endorsements. If someone who is seen as an industry leader uses your product or service, make sure you get a testimonial from them and display it prominently.
Another thing that makes MasterChef so engaging is the back story of the contestants – we like to hear the highs and lows of their lives and see how they approach setbacks and successes. It reinforces the need for companies to ensure their brand has a real story that will help engage customers and build a relationship.