The Buzz-Maker Called Experiential Marketing
Experiential marketing is not new in the world of marketing. It has always been around in the form of brand activations, events, conferences, product demonstrations, promotional giveaways, and most recently virtual reality experiences. Experiential marketing involves creating connections between brands and consumers through real-life interactions and experiences. No matter what type of experiential marketing is employed, marketers are sure to create a buzz around their brand.
While there’s so much talking about experiential marketing, you may wonder whether or not it will be good for your business. Don’t worry, because you are not the only marketer who’s thinking this way. The following are a few check-points you should consider to know if experiential marketing is working for you or not:
Leads and sales generation
Experiential marketing is good for generating sales and leads. Most companies feel that event marketing has helped them improve their sales figures. Consumers also expressed that they are more likely to purchase from a company after they have attended an experiential marketing event. If you have received more sign-ups or purchase orders after an event, perhaps experiential marketing is working for you. It’s a great way to increase the number of prospects in your database.
Number of direct interactions
One of the best parts of experiential marketing campaigns is that it allows consumers to interact directly with the brand, either through social media or events. It provides an edge over telephonic interactions because both marketers and consumers are able to see each others’ reactions. If you are seeing that a lot of people are coming up and asking you about your brand, the event is successful. It is a good way to create a positive impression before consumers and make them come back to you.
Experiential marketing helps marketers convey their mission, values and goals. Research reveals that consumers are more likely to show loyalty towards a brand if they share values. As such, experiential marketing proves highly effective in building brand loyalty. It helps marketers in creating a memorable experience for consumers by overcoming various communication challenges. If you consumers feel that they can continue purchasing from you after attending your marketing event, perhaps you have succeeded in gaining their loyalty.
Influencers and earned media
Influencers and earned media are important assets that a fledgling brand should treasure. It’s highly unlikely for newspapers and television to cover your product or service if you promote it through a press conference. But an interactive and engaging experiential marketing activation can earn you the goodwill of influencers, who are likely to spread the word about your brand. It is, thus, a great way to share your brand’s story and generate awareness in the market.
Last but not the least, experiential marketing campaigns, especially the ones run on social media, provide useful analytical data relating to their performance. Likes, shares, and comments are a good way to measure performance on social media. Live-events also provide useful data relating to consumer behavior and brand’s engagement. If an event sets your key metrics soaring, experiential marketing is perhaps what your business needs.
Interested in supercharging your company’s customer acquisition?