Businesses are always looking for new ways to flourish. One crucial aspect of finding success in an oversaturated and competitive market is differentiating yourself from the competition. While there are many strategies to help you do so, any brand or marketing team would be remiss to overlook the power of experiential marketing.
Experiential marketing is a strategy that provides customers - both existing and prospective - with experiences as a way to connect and build meaningful relationships. These encounters involve interactive and engaging elements outside of conventional marketing campaigns. It could be through a virtual experience, such as a webinar or conference, or in-person gatherings, such as live events, trade shows, etc.
Regardless of where the experience is staged, the goals are usually the same: raise brand awareness, enhance understanding, and, ultimately, increase the sale of your products or services. Many of these experiences will often incorporate entertainment in order to keep audiences engaged. Meanwhile, experiences focused on learning will offer workshops or classes to give attendees hands-on learning opportunities.
A key factor that makes experiential marketing unique is that it is in-person. Having unique, hands-on experience with opportunities to take photos for social media, test products, and gain a better understanding of a service can be invaluable. Now, thanks to augmented and virtual reality, the possibilities for experiential marketing have expanded virtually, with innovative experiential techniques emerging every day.
What makes this approach so advantageous? For the most part, it helps businesses boost engagement and forge deeper connections with customers. It achieves this by creating search demand, while offering product and service trialling and delivering an authentic encounter with the brand.
Experiential marketing works to break away from the traditional advertising tactics customers come to expect from brands and, instead, offers them a tangible experience worthy of their time. When done well, such events involve multi-sensory or interactive elements as well as an online dialogue. This discourse can be a powerful way to get people talking about the brand on social media in the best possible way.
In fact, the strong tie between social media marketing and experiential marketing is what makes this so beneficial for a brand. So many consumers nowadays want to share what they’re doing across various social media platforms. The buzz these positive interactions create is great for growing brand loyalty, increasing short-term sales, and setting brands apart from the competition.
Lastly, another benefit experiential marketing can bring to a brand is data. As customers participate, convert, and spread their messages to others, they generate data you can collect and use to draw valuable insights. These insights can then be used to improve future strategies and drive your business to greater heights.
Businesses and brands of all sizes and scopes can add brand experiences to their marketing strategy. If a brand struggles to build meaningful connections with the audience, it’s time to try something new. Consider stepping outside your comfort zone and enhancing your brand content strategy with exciting experiential marketing events.