05 Apr Why Your Marketing Strategy Should Include Experiential Marketing
Why Your Marketing Strategy Should Include Experiential Marketing
Any experienced online marketer will tell you that creating strategies that work is about taking a scientific as well as creative approach to the campaigns you build. It’s about adding touches of amusement here and there. In simple words, experiences that connect well with audiences sell better than all other forms of marketing. And there isn’t a single brand in the world, that doesn’t want to be experienced.
The modern day marketing strategy
Modern day marketing is less about bragging about your services and products and more about shining the spotlight on what your audiences expect. You need to focus on that need and then design experiences around it. Today, traditional marketing avenues like radio and TV are no longer sufficient when it comes to persuading consumers to buy from a brand. Most consumers are very savvy these days and consciously ignore all forms of aggressive marketing tactics employed by many marketers. They do this by:
- Using ad blockers
- Streaming all their entertainment online
- Paying more to skip ads
- Consuming news via social media platforms
While this doesn’t bode well for advertisers looking to attract customers, people look forward to more human experiences – enter experiential marketing!
Why should you focus on experiential marketing?
This form of marketing is the perfect way to capture the human element; the focus of experiential marketing is on creating emotional connections with audiences. The idea is to immerse consumers in experiences that create lasting impacts by engaging as many of the human senses as possible. Eventually, this has an effect on their purchase decision as well.
Experiential marketing functions on a very concise rationale- that consumers will buy, only if they feel a personal connection with your brand. A substantial and tangible connection will compel them to purchase and will encourage brand loyalty. Some of the things you can do in your experiential marketing efforts include:
- Reach your audience through trade shows, nightlife & sporting events, exhibits and concerts because this is where they are.
- Be honest, transparent and authentic while connecting with your target audiences and this will make them feel more attached to you.
- Focus on creating experiences that educate your customers about your offerings or products, rather than just aggressively pushing sales.
- Market research indicates that experiential marketing attracts a positive brand perception and helps achieve almost 75% more participation post an event. Since every business seeks a higher ROI, experiential marketing is the one way for brands to make
The right approach
Experiential marketing represents a significant monetary investment but this budget can go pretty far for most companies that want to create a brand impact. Despite its higher costs, most businesses have now realised that the benefits of this form of marketing are well worth the costs. Many companies are now channelling a substantial portion of their marketing budget towards experiential marketing spend.
While this form of marketing offers an excellent return on investment, it needs to be planned and structured well for maximum impact. It’s a good idea to work with a marketing agency that understands your objectives and crafts campaigns that work in tandem with the other digital and traditional marketing strategy your company employs.
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