The space sector is rapidly growing as a result of technological advancements and the rise of commercial space missions. According to Euroconsult [1], the market for space-related services is expected to grow from $277 billion in 2020 to $485 billion in 2028. This change has given businesses new opportunities, particularly in digital marketing. We’ll look at how companies might use space in this article to increase their online visibility and pave the way for innovative, far-reaching initiatives.
As space flight technology advances, a lucrative market opens up for companies looking to scale new heights. Here are some suggestions for incorporating space into your digital marketing strategy to take advantage of this.
Geolocated advertisements from space
First, it is possible to use advertisements that are precisely geolocated from space. Companies may use satellite data to increase the accuracy and personalization of the geolocation of online advertisements. MarketsandMarkets estimates that the location-based services market will reach $50.2 billion in value by 2027 [2]. Advertisers would be able to target their customers more precisely and increase the return on investment for their digital advertising thanks to the higher precision of satellite data.
Digital content related to space
Secondly, another tactic is to produce digital content about space. Brands may create attractive web content by sponsoring space missions or collaborating with space companies. For instance, in 2018 Red Bull sponsored a parachute drop from the stratosphere, which around 52 million people watched on YouTube [3]. This content, which could get shared on social media and streaming platforms, can take the shape of videos, blog posts, podcasts, or infographics to increase brand awareness and its relationship with innovation.
Virtual reality and space experiences
Moreover, virtual reality can be used to create space experiences. Firms might use VR to offer interesting space-related experiences. According to Statista’s forecast for 2024, the global virtual reality market will be worth $12.2 billion [4]. These experiences can be incorporated into digital marketing campaigns to engage consumers and encourage them to tell others about their experiences, which would spread like wildfire.
Space influencer marketing
Last but not least, influencer marketing in space can be used. To market their products and services on social media and streaming services, businesses might team up with astronauts and space tourists. Thomas Pesquet, a French astronaut, produced a number of movies to educate the public about environmental issues in 2021. He received help from the European Space Agency (ESA) for this initiative, and the recordings were later posted on social media [5]. These space influencers could draw attention from the public and the media by posting images and videos of their adventures while promoting the brand’s products and services.
In conclusion, space marketing presents fresh possibilities for companies seeking to boost their online presence and distinguish themselves from the competition. Brands may develop intriguing and engaging campaigns that pique the public’s interest by utilizing space and incorporating cutting-edge digital marketing methods. Bold enterprises that use these methods will be able to take on new markets and scale uncharted heights as the space industry expands and technologies advance.
Sources:
[1] Euroconsult (2019). ” Commercial space revenues to reach $485 billion by 2028″. Available on: https://www.euroconsult-ec.com/press-release/commercial-space-revenues-to-reach-485-billion-by-2028/
[2] MarketsandMarkets (2020). ” Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market worth $50.2 billion by 2027 “. Available on: https://www.marketsandmarkets.com/Market-Reports/location-based-service-market-96994431.html
[3] Red Bull Stratos (2018). “Felix Baumgartner’s supersonic freefall from 128k’ – Mission Highlights”. Available on: https://www.youtube.com/watch?v=FHtvDA0W34I
[4] Statista (2021). “Consumer and enterprise virtual reality (VR) market revenue worldwide from 2021 to 2026”. Available on: https://www.statista.com/statistics/1221522/virtual-reality-market-size-worldwide/
[5] Agence spatiale européenne (2021). ” Thomas Pesquet on a new underwater lunar adventure”. Available on: https://www.esa.int/Science_Exploration/Human_and_Robotic_Exploration/Exploration/Thomas_Pesquet_on_a_new_underwater_lunar_adventure
