Experience marketing is one of the most impactful, direct, and important new ways to connect with customers.
Branded experiences are really big in marketing right now. Big-name brands are increasing their budgets for experience marketing in order to craft experiences that customers and new audiences can participate in, remember, and share. They are hosting their own special events and creating the right atmosphere to reach the right audience.
Brands are ratcheting up their efforts when it comes to hosting experiential events, since events have been proven to have a powerful personal and emotional impact on consumers. This impact is not so easily attained with other kinds of marketing. Branded experiences are becoming the main attractions, instead of the marginal sideshows that they used to be.
Experiences Have More Of An Emotional Impact Than Communication
It’s best for brands to target emotional decision-making. Brands have to appeal to the “impulsive” and “emotional” because most consumers are quick to trust instinctive, immediate judgments. Basically, if you make a path for people, they will walk down it.
Powerful Experiences Keep Consumers Coming Back For More
Brands that offer a range of experiences that appeal to their target markets can retain those customers for much longer than brands that don’t follow up on their consumers that way. Consumers who take part in an event are much more likely to follow through with a sale.
Experiential Marketing Budgets Are Going Up
The budget share given to experience marketing is going up. Companies like Nike and Red Bull have transformed the way that marketers think about the experience they are giving. Experience marketing budgets are usually somewhere from 10-20% (in companies that use experience marketing at all).
Increase The Power Of Experiences By Encouraging Consumers To Share Them
Getting the customers to share the positive image of your brand is a great thing. If your company has a bad reputation, hosting events that run counter to that reputation can really help improve the reputation. When consumers spread the good word about your brand through word-of-mouth discussion, that gets other people to trust in your company again. For example, if your company got accused of environmental damage, then an event that promoted sustainability and environmental cleanup (that people could participate in & talk about) would be smart.
What Are Some Examples Of Experience Marketing?
Weekly cycling events have become a core marketing element for Sky, and its sponsorship of the sport has been gone deep into the business. Not only does the company hold weekly cycling events, but it has also sponsored a professional cycling team.
Another company that is well known for its experiential marketing is Sony. They launched their Playstation Vita handheld console by making multipurpose pop-ups in street shops. Sony wanted to reach a very targeted market of influencers and users. They had to be completely in control of the publicity in order for it to work, and they were.
British Airways is another company that recently hosted its own pop-up. The experiential marketing agency Cake created a venue that could would showcase the company’s Olympic sponsorship activities through three different mediums – art, film, and food.
How do you create Great Brand Experiences? Or have you been part of one?