Marketing

Why Experiential Marketing? Benefits and More

Brand Conversations on social media, brand recognition and recall, easy product feedback, potential market opportunities, high ROI - Experiential Marketing has many tangible benefits.

 If you are a regular reader of the blog, you are already familiar with what Experiential Marketing is. (If you are new here, you should start with our article:What is Experiential Marketing? Everything You Need to Know As Beginner) Now let us look at why you should start employing the experiential marketing strategy for your brand. The benefits of experiential 

marketing listed here are available to all brands, regardless of which industry they are operating in. Of course, you will be able to draw even more benefits when the campaigns are mounted with the details of your industry in mind.

This post is a part of our series on Experiential Marketing (visit the main page by clicking on this link) or download the guide directly in PDF format from below.
 
Download Free Experiential Marketing Guide

 

Effective and Result Oriented

The simplest, and the most important, reason for you to start employing an experiential marketing strategy is that it has proven to be effective. A survey conducted by EventTrack found that 74% of people who attended an event left with an improved brand perception, and as many as 65% of participants bought the service or product being promoted. The benefit is not just the one time sale - the survey further found 70% of the event participants became repeat buyers. This is a great rate of return for most brands investing in Experiential Marketing campaigns.

If you are not convinced yet - apply the old adage, “follow the money”. The survey found that as many as 79% of brands were expecting to increase their spending on Experiential Marketing strategies. The reason for such an increase, you ask?

80% of the brands surveyed had a return on investment of at least 3:1 from the event. As many as 16% reaped a ROI of 20:1. 62% felt that the customers had a better understanding of their product thanks to an event, and 57% managed to develop deeper customer involvement.

Novel Brand Experiences

Experiential Marketing is all about using non-traditional ways to create brand awareness. You are trying to engage the customer in a multi-sensory experience - and this novelty helps people remember who you are. While traditional marketing methods banked on visual and auditory content to explain the benefits of your product, Experiential Marketing provides them with an immersive environment where they can experience the benefits first-hand. These tangible and sometimes non-tangible experiences build a strong bond between you and the customer, and s/he is more likely to remember the positives about your product or service.

Social Media Integration

All marketing today wants to reach people organically - through social media. Experiential marketing turns social sharing into a powerful tool that helps build both awareness and trust for the brand in the public at large. Experiential events are crafted by skillful marketers with intimate knowledge of how people use social media, and encourages them to share content that they generate and visual content that they capture at the event with their networks.

This deliberate use of social channels not only expands the reach of an event but also initiates conversations in which the brand can get involved. The ubiquitous nature of cameras today gives the marketer a way to get some free word of mouth publicity, while also engaging the customer in a meaningful manner.

 josh-rose-unsplash-social media sharing clicking photo at a restaurant table

Source: Unsplash.com

Fun, Memorable Experience

Every time a customer interacts with your brand, brand loyalty is built or broken down. Experiential Marketing, at its core, is about giving you an opportunity to have a fun interaction with your customer, and present your best side. All the fun that they have at the event is automatically associated with your brand, and the positive connotations help build brand loyalty. Further, as the customer feels that they are playing a part in defining what the brand is results in them becoming a stakeholder deeply invested in the success of the brand.

An example of such fun interaction is the robot that the electronics company Brother brings to their events. It is not a real robot, but a person in a robot costume - but the fun interaction is all they need to stand out of the crowd:

 

Media Attention

A creative experiential marketing campaign is bound to get you media attention. Media outlets will cover your event as they are typically interesting to their audience as well. The bolder the campaign, the greater the chances of news coverage. And this coverage is completely free.

Some great experiential marketing examples of this are Red Bull’s Stratos Jump in 2012 and Google’s Google Glass launch event which got these brands exposure worth millions of dollars across the globe.

 

Brand Recall and Retention

You do not want to just make a sale right now. What you really want is to increase the customer lifetime value to its highest possible - and you can only do it if the customers keep coming back to you.

Fortunately, and as you may have already guessed from the earlier examples, experiential marketing events are highly memorable. It is non-traditional, and by definition something that they do not experience in their everyday life - and therefore it leaves a long lasting impression.

For example, WOWSOME lets participants dance with Spider-man and capture the same on video. They will not just remember dancing with their favorite neighborhood superhero for years to come, but will also share the video with friends in fun settings. All of it not just builds recall for the brand, but also makes the customer notice the positive attributes more often through a halo effect.

 spiderman mixed reality app your movie wowsomespiderman wowsome mixed reality your movie app

 

Brand Conversations and Feedback

This may be a more salient benefit of experiential marketing than others. When you run an experiential marketing campaign, you create an opportunity for your customers, and the public at large, to talk about your product or service. You should monitor the sentiments, and analyze the conversations that have been started.

Here you are bound to uncover opportunities to improve what you are doing - both in the messaging and the product itself. This could also help you prioritize product features you have in the pipeline, and push the features that the public wants first.

Conclusion

Experiential Marketing methods have opened up entire new vistas for brands to reach their customers.  Customers who participate in novel, interactive Experiential Marketing experiences remember the Brand's message for far longer. They are more likely to purchase and associate themselves with the brand - and far more likely to drive new customers through recommendations.

Experiential Marketing events can spark Brand conversations on Social and traditional Media, creating avenues for free publicity, word of mouth marketing, and help brands identify opportunities they aren't yet capitalizing on.

In other words, it is time for Brands to get on the Experiential marketing bandwagon. At WOWSOME, we have helped top brands like Proctor and Gamble, Mahindra, Royal Challenges Bangalore and Viacom 18 successfully delight their customers through Experiential events.

Get in touch with us, and we will help you supercharge your brand with the power of Experiential Marketing.


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