Why Experiential Marketing Will Change Your Business For the Better
Gone are the days of all brands relying solely on traditional marketing strategies. While marketing methods like radio, billboards, TV, and product placement are still used by big brands, they are less and less effective for small or highly niched businesses. Today, small companies have found a new way to get their message to their audience: experiential marketing.
Traditional marketing provides one-way communication between the brand and the consumer. It has a defined message that is repeatedly promoted through various channels in the hopes that the consumer will remember the brand at the opportune moment. Experiential marketing, on the other hand, creates a two-way communication with the consumer. The brand creates a message or promotion and asks the customer to respond in some way. It is often highly tailored to a specific audience and avoids the “spray and pray” method often used by big advertisers.
Experiential marketing can include anything from sampling your products in your new neighborhood to a viral social media campaign that engages your customers or a big sponsored event like Red Bull’s annual Flugtag. Experiential marketing provides a tremendous opportunity for small brands. Here are five reasons why you should consider an experiential marketing event for your next campaign.
It’s cheap: Depending on the kind of experiential marketing campaign you use, you can save a lot of money. Guerilla marketing can be as cheap as a simple website. If you go the route of brand ambassadors to promote and personify your brand, you’ll likely save money over traditional marketing methods.
It builds brand loyalty: When your customers attend an experiential marketing event and get to know you and your business associates in person, they’ll have the opportunity to get to know you as people. They’ll see your brand personality in action and likely be able to see themselves in your brand (if you attract the right people). When customers see themselves in your marketing, they’re more likely to form positive brand impressions and become loyal to the product or service you provide.
It leads to increased sales: Consumers are more likely to buy your food or drink if they can taste it first and know they like it. For larger expenses like cell phones, TVs, household products, cars, etc. trying your product first could be the factor that puts you above your competition.
It increases your exposure: Guerilla marketing tactics often get media attention. If you plan an effective experiential marketing campaign, you could end up with press releases, news spots, interviews, and even viral videos about your campaign. If you plan ahead and create a hashtag for your event, you can encourage customers to share their experiences on social media channels like Facebook, Twitter, and Instagram.
It lets you get micro-specific with your audience: While traditional marketing methods can be tailored to the desired audience, experiential marketing lets you get super specific. If you want to attract millennials to your product, you can schedule an experiential event (like a product sampling or demo) at an event heavily attended by millennials. If you want to attract retirees, you can set up in an RV park. Experiential marketing also lets you see the customers face to face so you can easily gauge their interest and know if you’re wasting your efforts.
Bonus Reason: Experiential marketing can be a lot of fun It gives marketers and business owners a break from planning email funnels, TV spots, magazine ads, and radio scripts. Planning an experiential marketing campaign can stretch your creative muscles and help you better understand your brand and your target audience. You’ll gain valuable insights from your attendees and learn how to better communicate with them in the future.
Learn more about how experiential marketing can help build your audience or improve your brand perception, contact Modern Promos today. We can help you come up with experiential marketing strategies and staff your events with professionally trained brand ambassadors.