Why Experiential Marketing Is The Next Big Thing?
Why are so many brands investing in experiential marketing campaigns? The stiff competition in the market has brands thinking outside the box day and night. Customers are now more than ever informed thanks to the several communication channels available. For this reason, as a brand, you will have to do better than your competitors so as to retain your customers and attract new ones.
Experiential marketing is the new wave that has taken the marketing world by storm. Its effectiveness has had marketing experts conclude that it is the next big thing. To help you understand what experiential marketing is and its benefits, read this article to the end.
What is experiential marketing?
Experiential marketing is simply an advertising strategy that aims at helping consumers engage with a brand through the experience it creates.
This type of marketing is quite different from the rest. Its focus on letting the customer experience products and services making it exceptional and effective.
Is experiential marketing important?
Is experiential marketing effective or is it just another marketing wave? We have listed some unique benefits of experiential marketing to help you get a clear picture before you dive in.
1. It speaks a language of millennials
Millennials drive the economy; their purchase power is so high and is likely to increase significantly. This class of customers believe in engagement, they want open communication. This explains why they are likely to buy a product at an event than anywhere else.
Events are also a great way for them to connect with other people since they hardly have time away because of their busy lives. It is also a good opportunity for them to learn and ask questions that they may have about a product or service.
2. Increases customer engagement
There is no better way to engage with your customers than creating a one on one experience. For this reason, brand events are becoming increasingly popular. Experiences, especially those that involve fun activities allow you to meet your customers and interact on a different new level. Experiential marketing also gives you as a brand an opportunity to generate new leads through:
- Offering incentives in exchange for personal information
- Taking photos and sending them to the participant through email.
- Offering opportunities for participants to win instant prizes.
- Registration for upcoming events
The information collected at the events is very crucial. All you need to do is nurture your new leads by constantly engaging them until they are ready to purchase.
3. Build Brands credibility
Experiential marketing gives your brand a chance to showcase its authenticity and build a positive reputation. Events are an opportunity for you to showcase your products and services and also explain to your consumers how they meet their needs.
It is also a good opportunity for a business to redeem its name and rebuild a good reputation that might have been tarnished for some reasons.
4. It is quantifiable
Experiential marketing results can be measured within a short while. The return on investment is motivating. It doesn’t matter what your business aims are, it could be you want to increase sales, increase customer engagement or increase brand awareness, experiential marketing impressively solves specific challenges in your business.
Most brands swear by experiential marketing because of the instant gratification it brings. It goes beyond creating content, email marketing or social media marketing.
5. Increases Brand awareness
As a brand, you need to set yourself apart. Costumers are looking for what is unique and engaging. There are so many brands immersed in digital marketing but very few are out to try experiential marketing. This is might be your only chance to pull through and stay ahead of your competition effortlessly.
6. Source of content
Chances are you will earn a lot of media attention at your events. Your customers are also likely to create content at your event so that they are able to share with their family and friends. Videos and images from your event can be used to market your brand on social media and create commercials for television
People love to share their experiences on social media including their experiences with several products and services. Experiential marketing simply gives your brand an endless exposure on social media.
7. Creates unforgettable experiences
One of the main aims of experiential marketing is to create memorable customer experiences so as to increase affinity. Events when planned well, will have a long-lasting impact on your customers. A customer is likely to spread a word to friends and family about a wonderful experience they had at an event.
8. Creates a good time
Most times you are probably worried about how to smoothly run your business operations. Of course, sitting behind a computer is no fun! Experiential marketing gives your brand a chance to go out of the normality and have fun. It is also a great way of giving your staff a retreat.
Every person loves having a great time. So the next time you are organizing an event, remember to have fun, it pays to have fun!.
Experiential marketing works, other traditional methods of marketing such as television and radio are slowly fading away and paving way for experiential marketing.
It might be tricky to start on experiential marketing. Fortunately, you can seek the help of a marketing expert. They are able to walk you through the dos and don’t of experiential marketing campaigns.
As a business, you can no longer turn a blind eye on experiential marketing, it is here to stay, and it is the next big thing!