In today’s world where every brand is doing something unique, it can be difficult to stand out from your competition. In addition to this, consumers have also started expecting more; they want personalised experiences. Experiential marketing is the common solution to these problems!
Experiential marketing is a marketing strategy that focuses on consumer experience. It allows customers to have tangle experiences that are related to your brand, thus creating an emotional connect. Some examples would be attending a live event, interacting with a 3D replica of a product, participating in a game/in-store activity, etc. Such moments provide instant gratification to your audience, leaving a happy memory.
Now, you must be wondering how a strategy like this could be of any advantage. Well, there are a lot of benefits your brand can derive out of it. Some of them are as follows:
Loyal customer base
Customers are evolving. Millennials don’t want to buy just tangible items; they are looking to create memories too. They want to feel special and cared about. According to studies, shoppers prefer to buy more from retailers make them feel that they are valued. Customising experiences for customers will lead to positive impression, thus leading to long lasting relationships and a loyal customer base.
Makes it easy to direct customer’s attention and focus
Experiential marketing engages a combination of senses. This makes it easier for the brand to drive the customer’s attention to its offerings. For example, at a food tasting event organised by a brand, the customers will be able to taste as well as feel the items.
Creates brand awareness and higher recall & helps in analysis
Positive experiences make customers happy. They are bound to talk about it with their near and dear ones. This increase awareness about the brand and its unique story. Customers are also more likely to remember the brand for a longer period of time.
Helps in analysis
Since experiential marketing allows a brand to interact with customers in person, it can also lead to useful data tracking. Firstly, such events can give a brand an insight into what its customers like, how engaged they are, etc. Secondly, it can also provide new leads and social media followers. This data can help the brand with its future campaigns, making them more appealing.
Higher profitability and greater opportunities for growth
Interacting with your prospective customers and letting them try your products/experience your services in person gives them honest real-time feedback. They can analyse your offerings and buy it then and there. This increases your chances of conversion, thus leading to higher sales. Higher sales mean higher inflow of revenue. This leads to higher profitability and greater opportunities for growth in the future.
Experiential marketing has great potential due to rapid technological advancements. As a marketer, you need to start making your audience feel wanted; you need to recognise the kind of experiences appeal to your target group. Everybody likes having fun; use this fact to drive your brand. If implemented in the right way, experiential marketing can lead to conversions even from non-target groups. Though this strategy requires a lot of planning and execution, it is a great way to differentiate your brand from competitors and create long lasting relationships with your customers.
Upreality is a next generation experiential marketing agency with collective experience and proven capabilities in digital activation solutions and integrated marketing services across boundaries. Go to www.upreality.in to know more!