Marketing, a word that has been around since the 1560s, has a simple meaning of promoting a product or a business to boost sales. Since then, the definition has been expanding and a lot of new terms have been attached to it and one of these is Experiential Marketing.
What is Experiential Marketing?
Experiential Marketing, also commonly known as engagement marketing is simply a marketing tactic used by companies to build an emotional connection between the brand and its consumers. This strategy invites the audience to engage with a company in a real-world situation.
What Experiential Marketing is not Another definition for "Event Marketing"
Events, which frequently refer to trade exhibitions, parties and conferences, etc., are one-time strategies. They are an aspect of experiential marketing that serves a particular function. On the other hand, experiential marketing is a concept and point of view on how to alter consumer behavior (at least for brands that do it well).
A results-based solution without the need for effort
If only you could invest in experiential marketing technologies and then just sit back and watch the outcomes unfold. However, that is not how the real world works and especially not how experiential marketing works. It requires real-time, one-on-one interactions to help customers form bonds with businesses. This marketing technique demands the correct approach, process, and people to deliver successfully.
Why brands should adopt experiential marketing
The first question that pops into our head is why brands should choose experiential marketing and how it adds value to their company. Experiential marketing has become a gateway to generating business for many companies and here is how it happens;
This form of brand experience is becoming the foundation of the marketing future. The number of leading businesses utilizing experiential marketing is expanding by the day. As it enables companies to forge close ties with their customers. And it became one of the few marketing trends that are producing observable outcomes.
Experiential Marketing Strategies
Creating a business is only the tip of the iceberg, generating demand for it is a real game. When it comes to scaling up a business in the long run, experiential marketing easily is the best strategy to do so. As people tend to link sentiments and emotional value with memories, experiential marketers use this psychology of the general public and generate an environment that is both memorable to consumers and profitable to the company. Developing such strategies can be quite straightforward. Here are some simple rules to follow;
Best Experiential Marketing Types and Campaigns
The types of experiential marking include
Experiential Marketing is frequently, a feature of trade exhibitions or events where businesses have customized kiosks to distinguish their brand. Businesses present information about their goods and services, and they might also host live events like contests, games, and quizzes.
These campaigns include promotion through brand ambassadors, usually with some free samples to attract the general public. These campaigns are executed in collaboration with a retail partner or at festivals, in parks, malls, or clubs.
Pop-up events and stores.
Temporary retail locations and events are frequently used campaigns to test a new market, launch a new product line, or raise awareness for a cause or product.
Lunch parties have also proven to be very influential when it comes to the promotion of the products. Often new companies arrange such events and give ambassadors a chance to share their experiences with the public through such platforms.
Festivals present incredible opportunities for brand promotions and exciting live experiences with a wide variety of activities to cater to a number of special demographics. Businesses frequently sponsor specific events or organize customer experiences including musical performances, concerts, Q&A sessions, panels, and workshops.
The use of new high-tech technology is an improved way to create attraction and excitement among consumers. These include high-tech headsets, virtual reality, etc.
Location-based marketing, mobile apps, and QR codes are also proven to be highly effective ways of digitally induced experiential marketing.
To sum up, experiential marketing is any marketing that takes place in a physical location:
In a world of competition and new investments, Experiential Marketing gives you the edge to leave your mark in the consumers' life. According to the analysis done on consumers' choice, 91% of the people gave positive remarks to experiential marketing techniques, and 85% were proved loyal customers to the brand. This shift towards earning customer satisfaction has forced companies to shift towards a customer-centric model to keep up with the modern world competition.