In a time when people are getting products advertised to them by the minute through almost every channel possible, it becomes imperative that companies figure out which ones are proving to be more effective and then allocate a greater percentage of their resources to those channels which in turn increases their ROI. That said, every once in a while, a trend emerges that proves itself to be superior to the rest in multiple aspects. Right now, experiential marketing is that trend and by the looks of it, it’s going to continue for a long time.
The primary reason that we do marketing in the first place is to make the consumers aware of our products or services. Greater the product knowledge of the person, higher will be the chances of him/her choosing you over others. Experiential marketing gives you the best chance of doing this simply by allowing a prospect customer to get familiar with the product or service that you have to offer by using it. On doing that the customer is invested in your offering on a personal level and that multiplies the possibility of him paying for it the next time.
Videos and articles on social media are all fine but these may get lost in the ocean of content that is offered to everyone daily whereas an experience is more likely to be retained in a person’s memory. Moreover, people tend to share these experiences with others and that in effect forms a chain reaction which is how great brands are formed. This is perhaps one of the foremost reasons why experiential marketing should be preferred over traditional marketing methods.
Also, it is important to note that we can leverage these experiences to make other advertising channels more effective. As a company, you can attach other relevant information in those channels and let the customer know what your brand is all about. A holistic approach of this kind is what will drive sales and generate leads for future sales in the most effective manner there is.
Experiential marketing also allows you to analyze the results of your efforts both qualitatively and quantitatively. The kind of people that experienced what you have to offer, the environment in which that happened and their immediate feedback is what will allow you to determine how successful the campaign was and what can be done to perfect future efforts in this direction. You can offer people with great social media presence to use your products and leverage that to market your brand in a more credible way. This spinoff to traditional advertising where these personalities are hired is actually what gives some brands in the FMCG sector a clear edge over the other.
In the years to come , more brands are going to focus their energies in this direction and with the benefits we have mentioned above we can’t see any reason why that shouldn’t happen.