6 Key Benefits of Experiential Marketing for Brands
More and more brands are shifting their digital marketing efforts to experiential. Why? A major reason is that today’s consumers crave unique experiences over traditional marketing messages. And, when done right, offline marketing (events, experiential, trade shows, grand openings, etc.) can provide you with more bang for your buck. Don’t believe us? Let’s take a look at the top six key benefits of experiential marketing for brands.
1. Effective & Measurable
Whether you are looking to entice immediate sales, increase your awareness, improve customer favorability or perception, increase reviews or generate new leads, experiential marketing can address a specific challenge and drive overall marketing goals.
According to the 2015 EventTrack study, events and experiences provide a clear boost in brand perception and, ultimately, drive purchases.
Using just this one channel, a brand has the power to generate awareness, engage, inform, create interest, encourage trial, promote consideration and prompt purchase, moving a consumer the entire way through the sales funnel.
2. Boost Social Media Exposure
Consumers love to take and share pictures of themselves on social media. When you invite them to a fun and memorable experience, they’re highly likely to capture their favorite moments and share them with people they know. That gives your brand free grassroots advertising that’s hard to come by any other way.
EventTrack discovered that 98% of consumers create digital or social content at events and experiences, and 100% of those attendees share the content.
3. Attract Media & Influencers
Launching a creative, bold experiential marketing initiative is an effective way to grab the attention of media and influencers. Media outlets love to cover such initiatives, because they’re newsworthy and interesting to audiences. The bolder you are with your campaign, the better chance you have of earning coverage.
4. Connect With Consumers
In an increasingly digital world, where consumers are bombarded with ads, emails, and texts, experiential events allow brands to form in-person connections. When it comes to the buyer’s journey, there’s nothing like trying out a product in person. It’s the best way for consumers to truly know if a product suits their needs before making a purchase decision. In fact, according to a survey by EventTrack, 65% of consumers say experiential marketing helps them have a better understanding of a product or service.
5. Create Memories
In a world of information overload it can be hard for brand to stand out from the crowd. Experiential marketing breaks through the clutter and creates lasting memories that will be recalled, and more importantly felt, for years whenever a participant sees your brand name.
6. Build Reputation & Credibility
Research shows that consumers are more likely to feel loyal to a brand when they have shared values. But values, mission statements, goals and similar messages are hard to convey through traditional advertising methods. Social media, videos and other types of digital media make it easier to tell your brand’s story, but attracting consumers and holding their attention long enough to get them to consume that media can be challenging.
With experiential marketing, you have a captive audience waiting to absorb your brand’s message through a set of tactile experiences. Conveying your values and other key beliefs through words and experiences makes them more memorable. Having people share your messages with consumers also lends some authenticity that’s hard to get through any other type of interaction.
More and more brands are seeing the benefits of experiential marketing and shifting their budgets for a greater return on their marketing investments.