The Academy Awards were last night. Money was made. A lot of it. Bucketloads.
How that money was made is a fairly simple concept. A concept you too can use to make money. Lots of it.
In short, it’s the creation of a Win-Win-Win-Win-Win scenario.
The nominees and award winners win. Ok, obviously the winners win, but you know what I mean. All nominees get recognition, and lots of it.
The broadcast networks and stations win. They get to air an event in which the who’s who of Hollywood shows up to pat each other on the back.
They win because when they get millions of watchers tuned in, advertisers pay them to show commercials. There’s big bucks in advertising. But you knew this already.
The advertisers win because they get their product in front of millions of captivated viewers. The advertisers win a bit less today than they did 10 years ago because of TiVo, DVR, and the like, but they still win.
Sponsors win. Designers. Dress makers. Jewelers. Hair stylists. After party hosts. Beverage companies. Airlines. Hotels. And, well, you get the idea.
Sponsors win because they get associated with winners. Money. Celebrities. Hollywood.
The Academy Wins. They get the clout associated with presenting exclusive awards. Awards that everyone in the business desires. It’s an exclusive club. You don’t have access to this club. The Awards show perpetuates this.
We could talk about restaurants, limo services, Hollywood studios, paparazzi, magazines, blogs, and journalists, everyone else who won, but we’ll stop there.
This concept may seem foreign, or out of reach, but this win-win-win-win-win scenario happens all across America, constantly.
Chamber of Commerce awards. Industry awards. Conferences. Conventions. Sporting halls-of-fame. Rankings. Ratings. 5 stars. 4 stars. Top 10’s. Top 100’s. Best of the Best.
There are people that want to be recognized. To win awards. Any awards.
There are people that want to sponsor awards. To be seen with the winners. To gain status.
Spectators will pay to attend the event. To be seen with the right people.
There are people who will pay to get in front of the nominees, sponsors, and spectators.
You can facilitate a similar scenario and win big. Just takes a little thought, planning, and execution – and a good bit of marketing.