Do you think it is time for your company to make a more meaningful and enjoyable connection with its customers resulting in more profits/ROI? Then it may be time to add experiential marketing to your list of brand awareness strategies. You may have seen beautiful skills and talent shows on the road; young guys showing their cycling skills, ball juggling ability, fire-eating performance, road dance and may have wondered; what in the world are all these? Well, I am here to solve your bewilderment. What you saw is an approach employed by some businesses to boost their brand by getting their customers to interact with the brand, engaging the customer, and producing a memorable real-life experience. This marketing approach is called experiential marketing. Experiential marketing, often known as engagement marketing, is a marketing technique that completely immerses or engages customers in a product.
In a nutshell, experiential marketing allows customers to not only buy but also experience a brand’s product or service. Memorable and unique experiences generate emotional connections between the brand and the consumer but that is not all there is to experiential marketing read on to learn more!
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These concerns will be taken care of in this post.
EXAMPLES OF EXPERENTIAL MARKETING
Experiential marketing aims to bring customers and brands closer together by engaging them in a memorable and positive experience. People are more likely to associate happy sensations with a company if a brand event elicits genuine favorable feelings, which is more effective than merely showing them a Facebook ad or anything.
Experiential marketing is, at its core, a guerrilla strategy, Instead of spending the amount of money that typical advertising requires, it focuses on thinking outside the box. Experiential marketing relies largely on innovation to not only grab attention but also to encourage people to try your products and suggest them to others.
Let’s proceed to review some common experiential marketing approaches employed by brands;
EXPERIENTIAL MARKETING STRATEGIES
1. Road Shows
Through this innovative marketing solution, roadshows propel your company into the customer’s environment, increasing brand exposure and providing a competitive advantage. A roadshow can last months, if not years, as opposed to a single one-day event. A roadshow is an important marketing tool because it provides a perfect forum for a company to directly communicate with potential and existing clients to address any concerns or highlight successes! Furthermore, because of its ability to relocate at any time, a roadshow is a versatile marketing tool. As a result, whether in the center of a city, at a customer’s workplace, or at the next big expo, your brand will have complete control over the location and timing of your event.
A roadshow allows you to create an experience that will leave a lasting impression on your target audience.
A number of firms have discovered the value of putting on various events and shows for the general audience. In the banking industry, for example, organizations like Zenith and Guaranty Trust Bank have recognized the value of experiential marketing and have embraced it. The Guaranty Trust Bank (GTB) fashion weekend and Zenith’s style by Zenith have both become opportunities for bank brands to communicate with returning and potential consumers. These initiatives demonstrate that banks can give back to the public and that they are aware of and interested in numerous parts of their customers’ life.
3. Flash Mob
A flash mob is a type of marketing in which a group of people emerges from the surrounding landscape to perform a pre-determined routine in order to raise brand recognition. Flash mob marketing has been a popular choice of promotion for many businesses because of its potential and novel approach to engaging prospects. Flash mobs may be an excellent strategy for small businesses looking to increase brand exposure in the area. That’s because those who were present during the flash mob will tell their friends and relatives about it. When done well, it will become the buzz of the town, and it can assist small businesses to improve their local chances in a condensed period of time.
The flash mob has been utilized as highly effective brand activation and marketing technique since its inception in New York in 2003. The element of surprise delivers a remarkable experience for customers, increasing brand awareness. Not only that but the show is frequently videotaped by onlookers. Because smartphones are so common, chances are that by the time you finish your show, a big portion of the audience has already shot, uploaded, and shared it. The beauty of this is that a single flash mob that you organized receives several recordings and shares from complete strangers.
There have been competitions held by brands over time. These competitions, which are either sponsored or hosted by firms, are a tool for these companies to get attention and sell their products. Some of these competitions employ tactics that allow customers and members of the public to connect with brands online in order to make their products visible both on and off the internet. MTN project fame, Henessy artistry, Maltina dance hall, and more brands have used competitions to master experiential marketing. People are interested in watching and participating in these events, so marketers can connect with the audience about their products and services throughout the shows. They create outstanding advertisements and provide an unforgettable experience for the audience.
7 BENEFITS OF EXPERIENTIAL MARKETING
Many business owners believe that digital marketing is sufficient to survive in today’s competitive environment. However, some people disagree. Building hands-on experiences for clients appear to go against the grain. Experiential marketing, on the other hand, is becoming increasingly vital as more and more business is conducted online.
Here are a few of the major advantages of this groundbreaking marketing strategy.
Brand Loyalty is increased by Experiential Marketing
Nurturing brand loyalty is a step beyond brand awareness. Face-to-face events allow consumers to have a real-life connection with the brand, which establishes an emotional tie, as opposed to typical techniques where firms spout whatever they think consumers want to hear in the hopes of winning them over. This emotional bond leads to brand affinity, which in turn leads to repeat customers and brand loyalists.
The purpose of this marketing technique is the same as loyalty marketing. If done correctly, this campaign has the potential to increase customer brand loyalty. However, you don’t need loyalty programs or awards to achieve brand loyalty through experiential marketing; you may accomplish it simply by demonstrating what your company stands for. Customers will respect you more if they are aware of your values and beliefs, this frequently boosts brand loyalty. It assures customers that they are dealing with the appropriate individuals.
Increases brand recognition and sales
The primary motivation for businesses to engage in marketing is to raise brand awareness. They want more people to be aware of them.
Brand awareness is more than just brand recognition; as a brand, you want people to understand your narrative, values, and mission. Experiential marketing strategies are a terrific way to get your feet wet and start building relationships with customers. Experiential marketing gives brands a one-of-a-kind opportunity to connect with customers in a genuine way, increasing brand awareness.
You can use this method to inform your audience about the things you’re marketing. You can also use this to show what problems your brand solves.
It places products directly in the hands of customers
Allowing customers to try a product out for themselves can have a significant impact on sales, not to mention provide you with vital, real-time feedback. And it’s not just a tangible product that can benefit from this method. Demonstrations, discounts, free trials, special material, and other similar tactics can be used by service providers as well.
Consumers nowadays frequently communicate with brands via email, a website, or social media. When customers call a company, they are usually chatting with someone who is thousands of miles away (and perhaps in another country). The convenience of being able to access brands across so many channels and at nearly any time of day has something to do with it. But these conversations can be impersonal and aggravating as well.
Consumers can interact directly with people from their favorite businesses through experiential marketing (either employees or, more likely, well-trained brand ambassadors). Consumers may look individuals in the eyes, shake their hands, and do everything they used to do while making sales and building relationships at events. A positive one-on-one connection is much more likely to linger in the thoughts of customers and keep them coming back to the organization.
It promotes a positive brand image
The sights, sounds, and conversations that occur at a brand activation all influence how customers perceive your business. We all know how crucial first impressions are, and experiential marketing events give brands the chance to make good ones. Everything you do affects how people remember your brand, from the aesthetic features to interactions with your brand ambassadors to the events and giveaways you provide. It has a good and long-lasting impact on customers when done appropriately.
When customers enjoy and appreciate your experiential marketing, it reflects positively on your business. If done correctly, it puts your customers in a positive attitude. They’re enthralled, elated, and overjoyed, all of which contribute to increased consumer engagement. If it is their first interaction with your brand, it will have a lasting impression on them. Because, as we all know, first impressions count for everything. First impressions, whether business to business or business to consumer, will always be important to us.
Experiential Marketing Engages the Senses
One of the traditional motivations for holding an experiential marketing event was to provide customers the opportunity to experience, touch, taste, hear, and smell a product. Customers are more inclined to purchase food and beverages if they can try them before they buy them. It’s worth noting that service businesses (not simply those selling a product) can give customers the chance to try out things with their senses. DJs can use music to demonstrate the quality of their gear. Natural cleaning product manufacturers can allow customers to smell their products to prove that they don’t include chemicals that cause irritation to the eyes or nose.
Sensory experiences are thought to play a significant effect on what we recall. The beauty of experiential marketing is that it has a wide range of applications. Brands with the ability to engage all five senses have a better chance of creating memorable moments with their target audience. When brands provide a delightful experience for their customers, they leave a lasting and positive impression on them. You don’t have to stop there; seek to activate all of your senses to get the best outcomes.
Word-of-mouth marketing is fueled by experiential marketing
Good products, good service, and a creative, successful experiential marketing campaign are the only three things that can generate word-of-mouth marketing for your company. Once you’ve created a fantastic campaign that provides people with a once-in-a-lifetime experience, they’ll quickly tell their friends and family about it.
Word-of-mouth marketing is a potent weapon in the connected world we live in. When customers like anything, whether it’s a product, an event, a discussion, or an experience, they’re likely to tell their friends and family about it (the same goes for negative experiences). They’ll handle all of your marketing. They’d tell their friends that it’s a must-try for everyone interested in your niche. If your campaign is truly one-of-a-kind and innovative, newspapers and the press will notice and consider it newsworthy. Keep in mind that newspapers want to cover stories that are entertaining, attention-getting, and motivating. If you gain the media’s attention and a lot of social media posts about your campaign, you’ll almost certainly meet your marketing KPIs. Experiential marketing encourages both face-to-face and digital word-of-mouth promotion, extending your efforts beyond the event itself
Experiential Marketing Yields better ROI (Return on Investment)
Although the amount of money allocated to experience marketing budgets appears to be more than for other types of marketing, the ROI on experiential marketing is higher.
When brands strengthen their integrity by providing customer experiences that allow customers to understand more about their products or services, the end effect is positive brand perception. According to a study by events marketers, increasing consumer experiences through experiential marketing can result in up to 74 percent higher customer participation and positive engagement. Increased engagement leads to higher sales and, as a result, a positive return on investment.
8 WAYS TO BOOST BUSINESS OPERATIONS USING EXPERIENTIAL MARKETING
Conduct extensive research on your target market. Respond to questions such as what inspires people to interact with your business, the channels they use and prefer to connect, and what you can do to improve your product to meet their demands
Choose an appropriate approach based on your data and set up channels to ensure a positive consumer experience throughout the event
Collaborate with other brands to put on a single huge event. You might go with a brand that is well-known in your niche while also complementing your own. This will bring in more clients and raise your product’s brand awareness
On this occasion, you should be genuine and honest. Customers can tell if you’re only interested in making money. Allow customers to engage with your brand on a personal level by showing them the heart of your brand
Stream the event live on YouTube, Instagram, or Facebook. You’ll reach a larger audience. It will promote your brand while also attracting potential customers to the campaign to meet you and interact with your brand
Enlist the services of professionals. If you want the event to be a success, you’ll need to hire professionals to set up the setup equipment and everything else. They will assist you in obtaining city permissions and navigating any other complications that may arise.
In order for your followers/customers to feel connected, your brand has a voice that must be articulated. While clarity is key, it’s also critical that the two work well together, since contradicting signals can make customers feel duped and detached from the platform or organization they’ve selected.
Experiential marketing initiatives are an excellent method to get your audience to imagine who you want them to be; don’t stray too far from their present perceptions, as this will only lead to estrangement.
Assuring that your message is clear ensures that you will receive the response you expect from your participants at the end of the marketing campaign. If your participants enjoyed or were enthused about the promotion towards the end of the campaign, but did not perceive its relevance to them, then your message wasn’t clear enough
Finally, a thorough grasp of your target audience will aid in the development of specific approaches that will better engage them. You must devise relevant experiences to entice folks who will profit from your product or service. Knowing your audience’s gender, age, and familial position isn’t enough. You must have a thorough understanding of who they are, their interests, purchasing habits, and other factors. In a nutshell, creating a thorough target persona is essential.
It will be difficult to build a campaign that resonates with your ideal customer if you don’t know who they are. This phase may take some effort and research, but it will pay off in the long run when clients respond better to what they see since you are more familiar with their preferences.
It’s also a means for companies to establish themselves as an insider in a customer’s life and build social capital, which will lead to purchases or other actions that benefit the brand. The more you know about your target audience, the more deeply you can engage with them.
Knowing your target market may seem self-evident, yet many firms overlook this phase in their experiential marketing campaign in their rush to produce something unique and “cool.” Make sure you don’t make the same mistake by prioritizing this step
Experiential Marketing at JMT
At JMT we provide a comprehensive approach to brand building and consumer engagement, assisting our valued clients in establishing and maintaining market leadership. We are passionate about client satisfaction and have spent over 10 years delivering seamless events, activations, and advertising for major brands.
We have mastered the successful strategies of experience marketing at JMT. We dig deep into your business, investigating the determinants of consumer behavior and market trends in order to select the appropriate experiential marketing approaches for your existing and potential customers. This ensures that your brand is remembered.
To increase customer loyalty through first-hand experience with product/service, Hop here to the JMT wagon for your unique experiential marketing campaigns.