Experiential marketing is gaining popularity among brands in an effort to break through the digital clutter and reconnect with consumers by creating value through unique experiences.
“Experiential [marketing] is a uniquely fast and effective way to build brand awareness through one-to-one connections with consumers. It engages all five senses, sparking emotions that form lasting memories which have been shown to drive brand loyalty,” says Bryan Icenhower, president of WME.
Experiences > Things
According to Eventbrite, roughly 78% of millennials prefer to spend money on experiences rather than purchasing physical items. However, this trend is not exclusive to millennials—since 1987, U.S. consumer spending on experiences has increased by 70%. For the modern consumer, possessions do not equate to happiness, rather they are focused on creating memories.
Making memories is no longer exclusive to family and friends. Leading brands are leveraging experiences to create memories, cultivate relationships, and form a sense of community. Experiential, engagement, or live marketing is a real-life, authentic interaction between the consumer and a brand. These experiences allow the consumer to enter the ‘world’ of your brand and understand what it stands for.
Allowing Consumers to be Intimately Part of the Brand Story
Experiential marketing is more than a great backdrop for the next Instagram trend. It is an opportunity to fully immerse consumers, emotionally and physically, into the brand universe. A personal touchpoint or face-to-face engagement between a brand and consumer helps to establish trust and forms an emotional connection to the brand story.
The ultimate goal is to build a strong relationship with the consumer that drives word-of-mouth buzz and brand loyalty. The difference between traditional marketing tactics and experiential is that “you’re not advertising a product. You’re letting consumers see and feel what their lives would be like with it. You’re creating an association between your brand and those positive vibes.” The key to success is ensuring the experience extends beyond the single event to build a truly authentic connection.
Why is experiential marketing so valuable?
In addition to the wealth of user-generated content and earned media, experiential marketing develops a genuine connection with your audience. This connection adds value for the consumer which can foster loyalty and drive sales in today’s oversaturated marketplace.
Learn how to drive consumer action through brand experiences on November 14 at Marketing On Tap: Brand Activation and Experiential Marketing. Network with creative professionals while learning from our expert panel:
- Anika Dill Grant, Founder & CEO of Idlewild Experiential
- Lisa Maniaci, Senior Account Executive Trade Shows & Events, Skyline Exhibits
- Suzy Chiaramonte, Head of Brand Partnerships, Emmis Communications
Thu, November 14, 2019
6:00 PM – 8:00 PM EST
Embassy Suites Berkeley Heights
250 Connell Drive
Berkeley Heights, NJ 07922