The humongous scale of competition, the overcrowding of advertisements, the myriad avenues of communication, and the overloading of customers: do you think your brand has any chance to survive?
Every chance it should, only if you know “how.” Experiential marketing is the answer.
So what exactly is Experiential Marketing?
Experiential marketing is based on an advertising strategy that’s focused particularly on helping consumers interact with a brand only through experience.
Also known as engagement marketing, this form of marketing comprises of a number of marketing strategies focused on immersing consumers within the product or service by engaging them in every possible manner.
Experiential marketing is justifiably considered the future of marketing. Here’s why.
Experiential marketing can help you connect with your consumers on a more personal level
The combination of digital and physical aspects of marketing presents vital opportunities to the marketers. Digital media helps in extending the physical experience or event beyond conventional boundaries through online, mobile, and social media communications.
Physical experience, on the other hand, helps in moving people to action through sustained conversation, encouraging brand loyalty in the most compelling way possible.
Take the English Premier League as an example; the richest and the most followed football league in the world.
With an estimated number of 1.2 billion fans, its annual turnover is significantly more than any other football leagues around the globe. Fans are continually engaged with engaging content from the Premiership clubs’ social media channels.
So why do these rich clubs conduct overseas tours during the off-season? The answer is pretty simple – to connect with their fans on a more personal level. Some even hire an experiential agency for compelling marketing campaigns, thus, creating a greater CLV (customer lifetime value) in the long run.
Experiential marketing is possibly the only way to be a standout among the crowd
In this noisy digital world, where everybody’s shouting messages out loud to consumers and products are sold shoulder to shoulder, it has never been so tough to get your voices heard.
Most consumers cannot even see the wood for trees which is precisely why experiential marketing has become so important in the current circumstances. After all, nothing can be more compelling than an immersive experience of the brand in the physical world.
It is the only way for you to get through
The 21st century is the age of the ad blocker and the ability to tune advertisements out. You are witnessing the end of the television consumption model. You need to do something convincingly more to get your message across.
So how do you engage with those consumers who are not watching? The answer is experiential marketing. It is the only way to connect to a consumer on a more personal level which today, is almost similar to that of the holy grail.
In a buyer marketplace where social platforms play such a crucial role in brand communications, the power of shareability is massive.
A viral content or a trending hashtag can make or break your brand in a flash. However, this kind of achievement is massively difficult to achieve.
This is precisely one of the very reasons behind the popularity of experiential marketing, especially because of its ability to trigger the kind of amplification that actually matters.
And then again, its soft and hard metrics makes it possible to measure the performance of experiential marketing. You can generate data through the exploitation of the latest event technology and figure exactly how these events are benefiting your brand.
Experiential marketing is the only way to convince millennials to take the leap of faith
Love it or hate; millennials are important for your brand.
They are a big and influential audience with lots of money who cannot be won over by the traditional means of advertising. They are a generation putting a lot more value on experience.
Just look at the festival culture characterized by amplification and immersion, and you will get the point.
Experiential marketing helps to strike a chord with the millennials simply because it speaks their language.
With that, we’ll sign off finally for the day. Hope you had a good and enlightening read.