WHAT IS EXPERIENTIAL MARKETING?
Why do we choose to go to a live concert when we can listen to the exact same music at home?
What’s the difference between watching a sports game in the stadium versus watching it live on TV?
In a word, it’s the power of experience.
There’s just something viscerally different about participating in a way that allows you to be part of something as opposed to merely witnessing it via a technological conduit. The unique combination of sights, sounds, textures, tastes and smells all add up to create an experience that simply isn’t available by any other means. In an age where the majority of customers crave personalized experiences and desire meaningful interactions with a brand before making a purchase, experiential marketing is now essential to any modern marketing strategy.CLICK TO TWEET
But although numerous brands have been eager to jump on the experiential bandwagon, many are still struggling to understand the basics of experiential marketing, let alone how to successfully integrate it into their marketing strategy.
At its core, experiential marketing is all about creating a meaningful connection between a brand and its customers. More than just promoting a certain product to a passive audience, experiential marketing is designed to have customers actively engage with a brand’s identity and its core values.By providing an immersive experience, a brand is able to create an impression in their audience’s mind that will stay with them far longer than any advertisement would.CLICK TO TWEET
74% of consumers say that engaging with branded event marketing experiences makes them more likely to buy the products being promoted:
For customers, experiential marketing provides them with a chance to directly interact and build a meaningful relationship with a brand. Even if you have an event that caters to thousands of people, each person will come away from it with an experience that is unique to them.
For brands, especially small businesses, experiential marketing is a golden opportunity to increase customer loyalty and direct sales. Successful experiential marketing campaigns don’t just introduce people to their brand, but serve as ways to activate new customers and introduce them into their sales funnel, with 65% of brands saying that their experiential marketing efforts lead to direct sales.
But beyond direct marketing, experiential marketing also provides a way to drastically increase their brand awareness and exposure, either through turning their audience into brand ambassadors or encouraging participants to share their experience on social media.
Research by seo analysts found that experiential marketing is the powerful catalyst for word-of-mouth marketing, with branded experiences accounting for 50-80% of all word-of-mouth activity.