Marketing is a complex activity and needs careful planning, thought process and well laid down strategies. It’s a multi-tier approach to optimize and generate more customers and revenue. Over the years marketing has evolved from traditional information based “one for all” campaigns to experiential marketing, which focuses on creating personalized experiences for the customers. While both forms of advertising are widely in use in the industry and both have their own advantages, both can be used to complement each other.
Traditional Marketing is typically non interactive marketing wherein the message is simply conveyed to the public. TV commercials, billboards, flyers etc. are all forms of traditional marketing. While this form of advertising does create brand awareness, it lacks personal touch.
Experiential marketing refers to creating experiences and interactions with the customers. Customers can interact with the products and get a first-hand impression about it. Taste tests, product demos are examples of experiential marketing. Here, since the customers are allowed to interact with the product, they can easily remember the product and may also recommend their friends to use it.
Difference between Traditional and Experiential marketing
In a nutshell, traditional marketing is generalized marketing, whereas experiential marketing is personalized marketing. In traditional marketing, the information or the advertising message is simply hurled at the audience, irrespective of whether they are paying attention or not. E.g. TV commercials during your favorite program. Often the marketing message is easily forgotten. Traditional marketing is best suited for large organizations with national and international presence and huge marketing budget.
As against this, experiential marketing offers one to one interaction with the audience, so you have their full attention span. Since it is a one to one interaction, experiential marketing creates a long lasting impression. Both large and small organizations can effectively use this form of advertising. Large organizations can use experiential marketing to complement their traditional marketing and create brand awareness while launching a new product- For example when launching a new flavor of chips, experiential marketing done at malls and multiplexes can increase brand footfalls. Likewise, a local shop too can use experiential marketing for attracting customers. For example- A local beauty salon giving a small makeup session to the visitors at a mall!
Experiential marketing is also comparatively more economical. These are the reasons why more and more organizations are using experiential marketing to boost their effectiveness.