The year was 1893. A few marketers thought that there were far too many firms selling various products to the same set of people. So many that the customer had no way of trying out most of them before deciding what to buy. Even the old ways of advertising, including experiential advertising, were losing their impact as too many products were being advertised. Something else needed to be done to entice the target customers by the latest offerings.
Experiential marketing is a type of marketing strategy that helps customers experience a brand or product. It benefits a wide range of audience by involving them with the brand in as many ways as possible. The motive behind an experiential marketing campaign is to let the customers build an emotional connection and memory with the brand. This eventually helps to make loyal customers and improve Customer Lifetime Value (CLV) for the brand. An Experiential Marketing campaign encourages a two-way communication between the brand and the consumer. It initiates communication on a personal level and brings about a profound emotional engagement with the consumer. This results in higher conversion rates at a lower cost to the brand.