Martin Henley from Effective Marketing Company has nicely broken down and explained exactly what experiential marketing is.
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What is experiential marketing?
Also known as engagement or participation marketing, experiential marketing is a strategy that invites consumers to participate in the evolution of a brand by direct engagement. Firms that implement experiential marketing strategies do not view consumers as merely receivers of their message, such as in television advertising, but instead believe that they should be actively involved in the co-creation of marketing programs, therefore, developing a relationship with the brand. Experiential marketing is also about connecting people, brands and products through engaging experiences which are emotionally stimulating using our key senses of sight, sound, smell, taste and hearing. In other words, potential customers are given the opportunity to ‘experience’ the features of the product before they commit to purchasing it.
Most companies maintain a presence on social networking sites, allowing them to actively engage with Facebook and Twitter followers, for example, which can create positive brand image and potential leads.
Attending product events gives businesses the opportunity to showcase their products and directly engage with potential consumers, which, ultimately increases their chances of a sale. The infographic below gives some impressive statistics that emphasise the possible benefits of events management as an experiential marketing strategy for a brand.
Why use experiential marketing?
According to statistics gathered by Blackjack Promotions, an experiential marketing agency:
- 89% of consumers actually want to try a brand before buying it
- 64% of consumers positively advocate experiential campaigns
- 80% agree that experiential marketing is more likely to give them information than other forms of communication
- 81% agree that experiential marketing would make them more receptive to other marketing from the product/brand
- 85% agree they would tell others about participating in an event
Ultimately, experiential marketing enables businesses to establish a strong relationship with customers who help the brand to develop by actively engaging with the marketing strategy. In order to effectively implement an experiential marketing strategy, companies must have creative staff who are engaging and communicate the brand well.
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