It’s easy to see why experiential marketing has exploded in popularity in recent years. A staggering 91% of consumers said they had more positive feelings about a brand after attending a live event or experience. With feedback like that, it’s no surprise that marketers are frantically trying to throw something together.
Consumer feedback is just one of the advantages that brands can benefit from experiential marketing.
Why 63% of Marketers Plan to Invest in Experiential Marketing
Customer satisfaction improves when brands offer experiences and events, it’s as simple as that. By subverting expectations and delivering above and beyond what the consumer thought they were getting, brands are enjoying a far better relationship with their customers.
The better the relationship the customer has with a brand, the more likely they are to share their positive encounter with friends and eventually become loyal brand advocates. Again, it’s simple. No matter the type of experience you provide, consumers feel more attached to your brand because you’ve shown that you value their time and attention.
Increased Brand Awareness and Social Media Engagement
The aim of all current marketing campaigns is to capture focus on social media. From local boutiques to household names, every man and his dog knows the power of Twitter, Facebook, Instagram, Snapchat - the list goes on.
Experiential marketing and social media are perfect partners. Marketing of this kind is about creating a unique and memorable experience. This is exactly the sort of thing that people share on their social media feeds. Create a dedicated hashtag and incorporate a digital equivalent and you’ll see your event shared far and wide.
Social media is such a vital part of your campaign, particularly because it can provide key metrics and performance figures that allow you to measure performance. The ultimate goal of your campaign might not be to reach a certain number of likes on Twitter, but these numbers are a good indicator of an increase in brand awareness.
A Chance to Get to Know Your Customers
No matter how much persona work or demographic research you carry out, the most effective way of understanding your target audience is to have a conversation. Experiential marketing brings your ideal consumers to you, without capturing customers that actually have no intention of buying from you.
Take HBO, for example. At SXSW, they created escape rooms for attendees that were based around some of their most popular shows. This combined some of the biggest shows on the planet (Game of Thrones, anyone?) with a growing trend, escape rooms.
Attendees had to escape not only a Game of Thrones themed room, but also rooms for some of their other shows, like Veep and Silicon Valley.
HBO knows that many of their subscribers only held accounts because of Game of Thrones. By creating an escape room that also featured other shows, they increased the chance of subscribers watching those programmes too.
The consumers you (and HBO) are targeting can’t help but show interest in an event or experience that’s tailored to their interests. This means you can focus all of your attention and efforts on the right type of customer. People that aren’t ever likely to be customers will just keep walking or scrolling.
This is just one example of successful experiential marketing. Head over to this blog now to see how major brands like Ikea, Coca-Cola and Sony engaged with consumers in the same way.
A Fast and Effective Boost in Sales
Event Marketer found that 67% of consumers bought products right there and then as a direct result of experiential marketing. If your brand is looking for a quick sales boost, or perhaps you’re launching a new product, then the results speak for themselves.
Just by seeing a product and using it significantly increases the chance of someone wanting to make a purchase. It’s much easier to sell products when you’re the sole subject of a consumer’s attention. Rather than battling it out next to your competitors, host an event or a live experience and it's your time to shine.
This boost in sales ensures that experiential marketing provides a high return on investment (before the finance team start to panic). Although the campaign itself might be costly, you’ll enjoy both financial benefits, with an increase in sales, and improved engagement thanks to social media.
Increased engagement, a boost in brand awareness and good ROI are just some of the key advantages of experiential marketing. For a detailed look at how your business will benefit from an experiential marketing campaign, download our playbook.
Everything You Need to Know About Experiential Marketing
Whether you’ve planned an experiential marketing campaign in the past or it’s something you’re looking to incorporate in the future, make sure to get your copy of our playbook. It’s packed with more advantages, tips on getting started and real-life examples that are perfect for ideas and inspiration.
Get your free playbook now using the link below and take your first steps towards a campaign that’s focused on the number one most successful marketing tactic.
