Why Should Brands Invest in Experiential Marketing?
The past decade has witnessed a major crossover from traditional to digital marketing, and this has sped up the ability of brands to promote their name and business and reach out bigger and newer audiences. However, one major drawback from this transition is losing sensory impact, the “sticky value” in the minds of target consumers. Hence, a particular type of advertising strategy has been seen to emerge these days, and that’s experiential marketing.
Experiential marketing is not new; it has been going on for decades already, but is saved for truly special occasions, such as product launchings and mass user tests. But why should brands invest on this kind of marketing approach, now that almost everything has gone to the digital realm?
Below are a few good reasons why:
- Physical experiences create memories that last.
People don’t always mention names of famous persons, places, or brands; but they love to share their experiences. They brag about not just the what, but the “how” of the things they’ve seen, smelled, or tasted. They also talk more on how they felt when they met a celebrity rather than the celebrity itself.
By giving audiences the opportunity to experience your brand, they more they will talk about it, and the more they remember your name and business.
- Live events carry greater convincing power.
When you host an event for your brand, your goal here is for your attendees to get hold of something tangible from your business. This means, the more they feel your brand, the deeper they connect with it, and the more they are convinced that your product or service is the one to buy, and not what your competitors offer.
This is because beyond the facts and statistics, people become loyal to something or someone because they’ve experienced them first hand.
- You expand your audience base.
Experiential marketing does not always focus on a targeted audience base. It also triggers the interest of people who are not initially interested to what the brand offers, but have become curious about their business. When they start getting to know your brand on a first hand basis, the more inclined they are to test your offer out.
At the same time, your brand will benefit from the principle of reciprocity, as consumers become more inclined to purchase a product or service after receiving something from you.
- You also learn a lot from your customers.
As a brand, it is important that you engage with your customers and learn their insights from time to time, and experiential marketing allows you and your audience to learn together, from each other.
Learning from your customers likewise helps you improve your business moving forward.
- You can incorporate different marketing platforms.
You can be very creative when it comes to experiential marketing. You can set up games that customers can play, or make use of technology for them to control. In some live events, brands set up customized virtual games and applications that participants can try onsite, or make use of specific installations that allow them to share their experiences immediately online.
In essence, experiential marketing bridges the gap between brands and their consumers. Your customers may now feel you, and once they do, the more loyal they become to your name and business.