Return on investment, aka ROI. This acronym is used across teams, across industries, and is often held as the measure of success for a campaign or department. In digital marketing, traditionally ROI has been measured by clicks and impressions. But as brands begin navigating our experience-driven world, ROI may not be something that is as clearly measurable as it once was. Instead, marketers can look to return on experience, or ROE, as recently proposed in this Marketing Dive article.
Return on experience answers the question of how to measure the success of an experience. This is because “it captures, attributes, and measures the entire short- and long-term impact experiences have on consumers and how they are amplified across a network online and in real life.” From determining the quantifiable number of people who attended to social media shares, here are tips on how to measure ROE.
If you ask any 90s kid what they imagine when they hear the word “streetwear,” there is no doubt that Air Jordans immediately come to mind. Over the past few decades, streetwear has become its own subculture, wherein aficionados lined up for hours to buy the most sought-after fashions. But in the past, despite the lines, much of the public hasn’t witnessed the expansiveness of this phenomenon for themselves. That is, until social media gave streetwear a larger platform and renewed its place in popular culture.
From brands like Supreme, that creates FOMO-inspiring, limited release products, or others who tap into the nostalgia of the 90s, social media has allowed people to openly share their love for their gear. Sparks agency recently published a post that details some of the best ways brands have seized on the streetwear phenomenon and used it to make memorable brand experiences.
At some point in their evolution, it is inevitable that brands will become stagnant. Whether it’s in the product itself or the way it is presented, most companies will need a refresh to attract new generations of consumers. But a brand or campaign refresh doesn’t necessarily mean a full overhaul of colors, branding, or use of a logo. Instead, brands can use experiential as a way to drive relevancy, according to NVE Experience Agency’s SVP Matt Molino.
In a recent Entrepreneur article, Molino explains that there are three key approaches to ensuring that an interactive marketing strategy drives brand evolution. Of his points, he reveals that taking a social stance can resonate with current consumers. Read the full article to see what the final approach is here.
It’s hard to comprehend, but just a few years ago, what we watched at home was dictated by what cable providers included in their packages. We were not only limited on what we watched, but when and how. Cut to today, and we have more choices than ever before, as new content producers have distributed shows that rival even the largest networks. We can stream any television show, movie, or animation in an instant, all thanks to giants like Netflix, Hulu and Amazon.
But how exactly did they grow to be as big and as popular as they are? Much is due to their willingness to take chances, break old models, and invest in new content streams. But, in continuing with their early-adopter philosophy, these disruptors have engaged audiences and promoted much of their content through experiences. They use brand activation to bring content to life and immerse fans into the world of their favorite show or movie. Here is how the leaders of streaming are killing it with experiential.
It takes money to make money. When it comes to starting a business and considering a marketing plan, this is very much top of mind. For some, it can be difficult to invest in marketing, while others are ready to spend – but potentially in the wrong places. And while every brand will vary, the bottom line is brands need to commit to a marketing plan, not teeter on a constant flux of should we/shouldn’t we.
As Entrepreneur points out, for brands that don’t have a large marketing budget, “there are other ways to show a commitment to selling a brand.” The author goes on to suggest several ways companies with tighter budgets can be creative while still sticking to a marketing plan.
Chat has revolutionized how we communicate with others, giving us access to anyone we want, anywhere in the world, at any time. Between Skype, Slack, email and iMessage, we have essentially eliminated the need to speak with people face-to-face. And while the convenience of instant communication has made things easier and more efficient, there have been unintended consequences as well. Over the past few years, human beings have experienced a decrease in overall communication skills.
Humans need tangible interactions with other humans to effectively navigate the business world, modern conveniences or not. Because of this, it’s beneficial to brush up on some basic communication etiquette rules. Recently, Fast Company published a helpful list of 7 communication skills we all need to succeed.
eSports is here to stay. In fact, according to NewZoo’s most recent research, it is projected that eSports “will help gaming grow into a bigger industry than traditional professional sports.” With predictions like these, it’s no surprise that big-name brands are eagerly finding ways to work their way into its realm.
And while event sponsorships are not new, Nike, Coca-Cola and State Farm are among the top brands that have chosen to solidify longer-term sponsorships. These commitments to eSports are further solidifying the fact that the industry is more than a passing fad and has become a full-on pop-culture phenomenon.
When SXSW was created in 1986, the festival was meant to be “a tool for creative people to develop their careers by bringing together people from around the globe to meet, learn and share ideas” surrounding film, music and art. In its current iteration, it has grown into a two-week showcase of all things creative, including interactive industries. Over the past few years, we’ve seen some epic brand activations come out of SXSW.
So when you consider that half of the more than 70,000 people that attend the festival are women, it’s no surprise that this year a large number of beauty brands were at SXSW. Many of these companies created unique opportunities for their target consumers to interact with their brands in high-impact ways, including 3-D hair color try-on apps and skin swabs that were used to understand participants’ bacterial ecosystems.
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