Appealing to the senses in marketing is nothing new. Digital and traditional marketers know that to capture consumer attention, they need visually stimulating content, and/or to use sound to further drive the experience. Experiential marketing holds several advantages over other marketing methods, one of them being the ability to engage more than 2 senses. In experiential, sight, sound, touch, taste and smell can all be in play, making for a more robust, memorable experience. It is this incorporation of all five senses that is, in part, contributing to experiential gaining in popularity.
Using experiential to connect with consumers on this deeper level allows brands to make an impact with experience-hungry millennials. And according to this Event Marketer article, one of the best places to let experiential loose is at music festivals. But ultimately, as the article points out, marketing success “depends on knowing the target audience.”
Choices are good. But too many can result in negative results, at least when it comes to purchasing decisions. To combat this, marketers have used individually-targeted messaging to make consumers feel more connected to and at ease with purchasing. But, just as with choices, this too can be too much of a good thing.
As this article by Adweek points out, marketers need to make a dramatic shift. Rather than communicating with (or at) consumers, brands should be having conversations with them. By doing this, brands gain a better understanding of what it is the consumer is looking for. And that extends beyond products or services, including the overall brand experience. As the article best puts it, “customers aren’t looking for brands to define their journeys, but to design experiences that help them create their own journeys.”
AR Can Transform Event Marketing – Here’s How to Get Started
Incorporating technology is a great way to add value to an event. Tech can help teams gather data and prove ROI, or it can serve as a consumer engagement tool to further marketing goals. Two of the most popular engagement tools in event marketing are augmentedreality (AR) and virtual reality (VR). Yet, in the event industry, often AR and VR are lumped together – despite being very different. This is especially true as each platform continues to advance and become mainstream.
Unlike VR, which transports users to a whole different reality, AR superimposes reality. When used strategically, AR can be a platform for instruction as well as engagement. In a recent article by Marketing Dive, author Michael Schaiman discusses how AR can help transform the event marketing industry and offers some suggestions on how brands can get started.
One of the most compelling statistics in marketing is in relation to customer retention. An article in the Harvard Business Review reports that, adjusting for differences among industry and research, “acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one.” Retaining the right customers provides evidence of brand value and, according to the same HBR article, data shows that “increasing customer retention rates by 5% increases profits by 25% to 95%.”
While the benefits of customer retention are clear, it’s not easy to achieve. This is especially true due to the saturation of products and services in the marketplace. Luckily, there are key points for brands to keep top of mind when working towards improving customer retention. These generally fall into the category of making customer interactions custom to them. By using a consumer-centric approach, brands can create personal relationships with each individual, making them feel important and motivated to stay with the brand.
Nostalgia marketing has proven to be a powerful tool in the world of marketing. We are seeing more and more events evoke “the good old days” and take advantage of consumers’ affinity to relive old memories. In fact, it has become so popular that some say the term “nostalgia marketing” has become a buzz phrase. But this tactic is not a passing fad. According to this BizBash article, millennials are “particularly potent” to nostalgia marketing because, according to Scott Miles, SVP of strategy and ideation for Mosaic, they are a generation coming through dark times. ”Anything that allows them to have a brighter experience with a brand is the goal,” he says. “So a lot of agencies are building events that take [millennials] back to a brighter, simpler time.”
The article also touches upon examples of simple, yet cost-efficient nostalgia marketing campaigns. These include incorporating “throwback” music artists or games that many millennials spent their childhood playing. And better yet, these types of events easilytranslate to social media. As the PR Director of Constellation Brands puts it, retro experiences are able to capture uniqueness and familiarity at the same time, which are exactly the type of social posts consumers want to share.
How Event Marketing is Using Artificial Intelligence
Artificial intelligence is still an emerging technology, but it is evolving through the process of machine learning. And as it becomes smarter, and the radius of the Internet of Things increases, more businesses in all types of industries are finding benefits in integrating AI. But, the tech is still new, so it’s no surprise many are still apprehensive about embracing AI. Yet, the marketing industry should embrace AI wholeheartedly, according to Sparks. The overarching reason: the benefits still far outweigh the risks.
In a recent blog article, Sparks provides several examples of how brands and agencies alike can tap into the benefits of AI. From custom interactive experiences to voice-activated escape rooms, AI can provide the instant gratification that consumers crave.
This is How to Thrive in the New Experiential Marketing Landscape
More and more brands are seeing the benefits of investing in experiential marketing. In fact, the industry is expected to grow by 44% from 2010 to 2020. This significant rise in adoption is good news, but, it’s important to note that as marketing tactics change, so do the needs and expectations of the consumer. As the experiential marketing industry has developed, the standard of what consumers expect has increased. Like their digital marketing counterparts, the most memorable and effective events are ones that are immersive, consumer-centric experiences.
The challenge of exceeding consumer expectations has also been changed byadvancements of technology. This Forbes article provides brands with tips on how to keep up in the changing world of experiential. As the author concludes, “the agencies [and brands] that succeed in this world are those that are able to strike the balance between digital evolution and human connection.”
The JagerHaus at All Points East Succeeds on All Levels
Its officially summertime, which means music festival season is in full swing. The popularity of music festivals has already led these events to be prime locations for brands to reach target consumers, especially Millennials and Gen Z. But getting consumer attention at these popular cultural destinations, including SXSW, Coachella, has become a challenge in-and-of-itself, in what has become a cluttered marketing landscape.
One brand that has been successful in standing out is Jagermeister, notably at their recent activation at All Points East in London. Aptly named “The Jagerhaus,” Jagermeister pulled out all the stops to provide attendees with a memorable brand experience. The multi-level footprint provided festival-goers with an experience within an experience. From the décor and cocktails to the live performance, every detail was meticulously tied together.