Customers are demanding experiences to remember
Experiential marketing, which is also referred to as engagement marketing, is a strategy that encourages an audience to engage and interact with a business in a true-life situation. In an ever-increasing digital world, this is key to moving forward and gaining new customers. Using live, participatory, hands-on techniques, the business can demonstrate to its customers not just what it offers, but what it stands for, as well as its key messages.
The retail and business landscapes are ever-evolving, and customers don’t just want to purchase products, they’re looking for face to face encounters and memories as well as the opportunity to post about their experiences on social media. An experiential marketing agency will create live experiences for clients, and with expertise in location planning, logistics and production, they will be able to successfully combine all these elements to present a quality event. Nowadays, younger people prefer to spend their hard-earned cash on experiences rather than products. Product-centred retailers are even moving their thinking toward encouraging their customers to make memories.
Experiential marketing is expanding rapidly
More brands are directing their budgets towards incorporating events into their business forecasts, inviting customers to become participants. Experiential marketing is growing rapidly and it’s estimated that marketing departments could dedicate up to 50% of their budget to organising experiences over the next few years.
When carried out successfully, experiential marketing can be a powerful tool. People who engage with the branded event are more likely to buy the product. Experiential marketing can also drive word-of-mouth marketing. The participants will often discuss or praise the experience with friends, and more importantly, they will create posts on social media which is a key driving factor for the brand, especially if that person is an influencer. This will create a buzz around the brand and publicity for the products. Events will also hand the brand an opportunity to collect customer information for traditional campaigns which are organised after the event, such as emails or newsletters.
No matter what kind of business or what sector it’s in, it’s possible to create a campaign to reach potential consumers. The goal is to come up with an activity that brings about positive vibes, for example, a pop-up shop, a free event with free products, or a creative and head-turning guerrilla campaign which will help leverage social media mentions.
The campaign should not just entertain consumers, it should also showcase the products in a way that will persuade them to buy. Creativity is key when it comes to experiential marketing. The event has to be fun and unique, with an unusual twist. The originality is the x-factor, and it will encourage attendees to photograph and video the event and share on social media. Creating a hashtag can further expand the brand as will organising a giveaway on social media.
An experiential marketing agency can provide a host of services to ultimately engage the consumer and drive the brand even further.