I’m sure many of you have seen the movie Avatar by now…If you haven’t seen it yet though, do go watch it in the cinema and especially in the form the film was made for. In 3D!
For some this may just be another source of entertainment. I’m no film critic, however what can be overlooked sometimes in a film are the wonderful things you can learn from it. And I’m not just referring to its message on love and saving the environment, but more so the effect it has made on people and how it has maybe spurned a possible chain of encouragement in the movie industry. Reading up on the movie from a business perspective is truly fascinating and inspiring.
How so? Here are 4 things I learned.
1. Pushing the Boundaries
James Cameron, like an outstanding director, is one with vision. He dreams big and that’s where most movies start out first. As dreams in the head of these masterminds. Well known in Hollywood for being a demanding director, he always wants the best. Pushing the limits so that his works are remembered by many for years to come.
Lesson: Is being demanding and a perfectionist a good thing? Some may whine and say that’s not such a good thing because it may make you look like an ogre that is an idealist. However take a look at this way. If you want to do something, do it big or don’t do it at all. In the words of Donald Trump “If you are going to be thinking anyway, think big!”. Furthermore, if you demand yourself and others to be the best, you will be the best in what you do.
2. Detailed Research
With any business it is always essential to start of first with an idea. Then followed by a way to conceptualize the idea and plan out how to execute it. James Cameron had Avatar in his drawer even before Titanic was made, then it was only a draft. When he finally decided to produce the film, extensive research was made to ensure every detail about the world of Pandora could be brought to life. Details such as the creation of the environment, the language that would be used on this alien planet, would it be possible for this movie to be seen on a mass scale?
Lesson: On that note, same thing for marketing. Before any idea is executed, one always has to do their homework – which is research. Researching on the market demands, your competitors in that niche and finding quality products are essential to the success of your online business. After a thorough research is done, you will get a clearer picture on the execution of your marketing campaign.
2. Finding A Niche
This is probably like marketing 101, but is always good as something to consider. 3D was already in the market, however there weren’t that many films that were in 3D format and worth watching. Realizing that there was an untapped potential, Avatar has grown the market for the 3D film category. Avatar is clearly the most successful film ever made for 3D. The hype and hugeness of Avatar in 3D is definitely going to result in the need for more 3-D projectors to be rolled out in theaters. Great for the film, for cinemas and movie lovers alike.
Lesson: Finding your niche is always key. In relation with lesson #2, before the research process, it is good to have a clear target on the niche you want to venture into; for example dog training. Avatar was fortunate enough to kill two bird with one stone. The main niche the film catered for was the 3D market. but it was also received well in the mass 2D market.
3. Partner Creation
Take a look at the companies who joined up to make it work for their advantage. IMAX was obviously one of them, McDonald’s was a big promotional partner, Mattel created Avatar augmented reality toys, and so on so forth.The people to really cash in from the movie would of course be 20th Century Fox. The movie alone had cost about $300 million plus to make along with another $100 million plus in marketing and advertising (The Big Business of Avatar – CNBC.com). Let’s not even look at things worldwide, even in my own country. The movie was sold out even before it was premiered. Buying tickets only got harder after the opening of the movie. It didn’t matter how early you wanted to get tickets they were either always sold out or with crummy seats. This is just an observation of how well ticket sales for Avatar (in 3D) were flowing in Malaysia.
Lesson: Point is you see how much people can benefit when they pull their resources together. Sure these maybe big guns that we are talking about above. However in the same retrospect, partnerships or joint ventures happens a lot in online marketing. It’s highly important to build a network of contacts in your database. You never know when you will be able to help one another. Take for example McD’s is a fast food brand, but it was able to ride with the wave and marketing hype that Avatar had. At the same time, it is marketing for the film as more people will know about it whenever they head to grab a quick bite. It’s a win-win situation and I highly believe that it is always a good thing to work with others.