The 4 Trends Driving Experiential Marketing
With the news that spending on experiential marketing rose for the 19th quarter in a row, brands are clearly realising the potential of this exciting marketing strand. But what is driving this trend?
#1 EVERYONE’S doing it
Whether you are the biggest search engine in the world or a retailer with a small but growing high street and online presence, experiential marketing is one that can be customised to fit all industry, sectors and businesses.
Experiential marketing events are not constrained by location. An event will work just as well in a shopping centre as it does on the high street in a small town or a pulsing European metropolis.
It is a growing band of marketing, a tool that is evolving with specialist promotional staffing agencies and PR companies realising that to deliver the best event, they need the right people with a specific skill set.
#2 Paid-for events are becoming more common
Many experiential marketing events are free. Held in busy spaces where customers can be found proves the natural landscape for an event that wants to draw customers to the ‘human’ side of a brand.
But there is an increase in pay-for events. EventTrack’s report from 2018 shows that a third of customers have paid an admission fee to attend a branded event. In offering paid-for events, it offers the opportunity for the smaller business to recoup some of the marketing costs. There are those who also agree paid-for events are more accurate on reaching the desired target.
#3 Immersible experiences
It’s a growing strand of experiential marketing, at its most comfortable within the hospitality industry. An immersive and ‘stayable’ experience is similar to that of offering regards to the most loyal of its customers.
In effect, this is what a handful of top hotel brands have experimented with, assuming that a longer event – a weekend away in a yurt, for example – is a less forgettable experience than a two-hour event. Largely untapped, this could be a sector that flourishes in the coming months.
For too long, there has been a divide between digital and traditional marketing. Rarely have they met. But there is a growing trend of mixing the two.
A well-known whisky producer has been playing the sound of a crackling fire in pubs and bars where its whisky is a top seller. Other brands, including Topshop and Coca-Cola, have been using virtual reality (VR) and augmented reality (AR) to connect with customers at events.
The crux of successful experiential marketing
Essentially, whether you use technology at your next experiential event or not, this kind of marketing focuses on eliciting an emotional response in customers. Our costumed performers, for example, can elicit an emotional response just as our personable brand ambassadors can, or experiential staff or demonstrators…
Experiential marketing is people connecting with people on behalf of a brand, a marketing trend that we’ve always know brings results. And there is a growing body of evidence to prove it.