Experiential marketing succeeds in connecting with consumers. It allows brands to engage with them face-to-face where they live, work, and play. In humanizing the brand, people are more likely to be receptive to marketing messages. But it doesn’t stop there. According to Event Track 2016, “(74%) of consumers say engaging with branded event marketing experiences makes them more likely to buy the products being promoted.” Experiential drives purchase, which is why the strategies that brands pursue are critical to the bottom line. This week, the Elevate White Board features articles surrounding improving those event marketing strategies. We also discuss the future of FOMO, AR/VR technology for consumer engagement, and more.
Whether you are a veteran event marketer or new to the discipline, everyone has experienced sampling. As one of the “original” event marketing strategies, sampling is a tried and true way to engage consumers and drive sales. In fact, “A report from Sampling Effectiveness Advisors shares this statistic: 73% of consumers said they were likely to buy a product after trying it. Only 25% said the same thing about seeing a television commercial.”
It is no wonder that sampling has thrived throughout the evolution of experiential marketing. But sampling does more than drive immediate sales. It can also be helpful in driving lead generation through word-of-mouth marketing. Here Hot Cow explores how sampling initiatives can win new customers beyond the event footprint.
According to data from reports such as Event Track, the facts are clear. Experiential marketing is well worth the investment. As budgets continue to increase year over year, more brands are experiencing the benefits of face-to-face marketing. Allowing your brand to engage with people in their everyday lives allows them to put a human face to an otherwise benign entity. This has shown to not only promote brand awareness and brand loyalty, but also drive sales.
But, experiential is not effective in and of itself. Companies must execute well-planned events. And even then, certain mistakes can negatively impact your experiential investment. From errors related to audience engagement to ineffective goal-setting, here are 5 experiential marketing mistakes to avoid.
Convincing Leadership that AR/VR is the Solution
Experiential campaigns are very much a sum of their parts. From audience targeting to setting attainable goals, every element has a big impact. One critical piece of event marketing strategies is the experience that your brand presents to attendees. Selecting the right engagement tools can ensure that your audience internalizes your marketing message and key takeaways. And that directly contributes to your event’s success.
One of the most exciting technologies that brands are currently utilizing is augmented reality (AR) and virtual reality (VR). These technologies can benefit almost any brand, but are especially helpful for “hard-to-market products or services.” Here the American Marketing Association offers 5 steps to help you convince company leadership to consider AR/VR for consumer engagement.
Using the Fear of Missing Out to Your Brand’s Advantage
Marketers everywhere, especially in experiential, reference FOMO, or the fear of missing out. This concept is not new. “Keeping up with the Joneses” has long been held as worrying about things you don’t have. Yet, this phenomenon extends beyond material items and translates to experiences.
In marketing, FOMO is often tied to millennials, as this age group often values experiences over things. But, as this post’s millennial author points out, her generation “has replaced FOMO with JOMO, aka the Joy of Missing Out.” She goes on to say that, rather than spend time at bars and restaurants, “many are participating in alcohol-free events like fun runs, silent discos, and hitting the local farmers markets…Plenty of others simply aren’t leaving the house — binging on Netflix and learning to cook through services like Blue Apron and Plated.” But there is hope for FOMO yet! Here are 4 ways to tap into that generation-transcending human need for inclusion.
In all things marketing, technology has changed the way companies operate. Experiential marketing is no different. Event and digital technology has revolutionized event marketing, from consumer engagement to data tracking. This has allowed brands to learn more about consumer behavior and preferences. They are also using this data to discover how powerful a brand experience can be to drive sales.
But as much of a gift that tech has been to event marketers, it has also proven to be somewhat of a moving target.New tools are continually hitting the market, and for many brands, understanding which tech options are a fit for their brand can be a challenge. Here Freeman lists their predictions for event and digital technology for 2018 and beyond.
Epic? Revolutionary? Event Marketing Phrases to Avoid
When crafting event marketing strategies, you carefully consider every detail. These elements can encompass everything from logistics to engagement techniques. But, they also include elements that are subtler. Once of these considerations is the language that you use with attendees, both in person and via collateral.
Many marketers continue to woo the ever-compelling Millennial generation, and using vernacular that resonates with them is important. But what if you use the wrong language? In this consumer era that values authenticity, getting caught using words that try too hard, exaggerate, or are insincere can be a major turn off. Event Manager Blog lists 25 phrases that you may be tempted to use, but should think twice about.
When people imagine experiential marketing, often it is in the context of retail, food and beverage, and other “tangible” brands. And it is no wonder. Experiential began in large part with sampling, demos, and other ways for consumers to taste, touch and feel a brand.
But now experiential has expanded to other industries. Healthcare, finance, and other professional services companies frequently engage consumers through marketing events. And this article suggests that the travel industry should also embrace brand experiences. From hotels to the destinations themselves, these tips focus on effective event marketing strategies for those looking to attract travelers.
How to Market Your Pop-Up Shop Investment
As we’ve discussed, experiential marketing has expanded over the past few decades. From guerrilla marketing to PR stunts, brands have embraced innovative ideas to stand out and connect with consumers. One of the most recent event marketing techniques that has begun getting attention is the pop-up shop. Pop-ups allow brands to test out new products, boost sales during high season (and more) with little commitment. Besides driving revenue, pop-ups can help brands build brand awareness and take advantage of consumer FOMO.
In all, a pop-up is an investment, but when done well, can be a worthwhile one. But designing an effective pop-up concept is only half the battle. Driving traffic to this temporary location through effective marketing is paramount in achieving success. Read on for tips on promoting your pop-up shop.
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