More and more companies are turning to experiential marketing. It’s about allowing customers to experience the brand’s promise and message. Experiential marketing sells products offering experiences and experiences serving as products at the same time. Today, companies are investing more funds into experiential marketing. This change can be attributed to the basic nature of humans. People can block or skip ads, but experiencing something or attending an event is a decision. Traditional channels are still being used, but people ignore 89% of ad content. One of the best things about experiential marketing is that people can share an experience with someone, something that watching an ad doesn’t allow them to do. Experiential marketing can also complement traditional marketing. For instance, events can be turned into advertisements and broadcast through TV or digital platforms.
The opportunity to design for the experience: Luca Mascaro
Experiences may attract more attention than most banner or TV ads, but businesses may want more proof that their investments are paying off. It is not actually surprising. Take the hotel loyalty programs and points of American Express as an example. A consumer who spends a dollar outside the loyalty program will normally spend nine dollars in the program and that’s experiential at work or the measurement of that experience and the customer’s view saying he wants more. The fact that people are already using their mobile phones to tap into the experience offered by brands makes it easier to convince them to share content.
Brands have also shifted from being passive or hoping that people will post the experience on social media to being active or including tracking and data points in the experience or making social efforts that convince people to use the brand’s geo-filters to hashtags to make sure that they will get their desired analytics to justify the cost of experiential. Measurement, however, is still a new area. That gap is viewed as a significant opportunity, so experts continue to invest in technology, strategy and statistics to create models that can be modified to clients across different industries.
How to Determine if Your Experiential Efforts are Working
For some marketers, determining whether or not your experiential efforts are working doesn’t need to be complex. Using an experience, you can scan the mass to get a clear idea of whether or not you have made something that will benefit your brand. Having more data is a great thing for experiential marketers. However, that is not everything about experiential marketing. There is intangibility when it comes to experience as it’s also about making an emotional connection. Observing the faces of people and seeing how they are reacting is the best way to see if your efforts are working.
Having a high conversion to sales is hard if people don’t show up. Knowing how excited people are, if they are leaving with a smile, how much energy they have or if they are happily chatting with their family and friends is very important as well. Being able to make someone smile is certainly something and you can take advantage of that to grow your business.