In this week’s blog post, we are going to define the term experiential marketing, look at some examples of how a business could implement an experiential marketing strategy and why this form of marketing can be so effective for generating sales/
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. At The Effective Marketing Company, we offer social media marketing services that includes two-way interaction using customers’ company’s Twitter accounts.
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.
A real business example of engagement marketing is seen in the unique marketing strategy of Jones Soda. Regular customers are able to attach photos to their orders that will then be printed onto their bottles of the soda. If the photos are interesting enough, they can be put into production and used as labels for a whole production run. This strategy is effective at getting customers to co-create the product, and engaging customers with the brand.
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.
Thank you for reading this week’s blog and we hope you understand the term experiential marketing a little better now. Make sure you tune in next time if you haven’t got a blogging clue about inbound marketing.