Experiential marketing has been around for about two decades. Naysayers have considered it to be a buzzword and they have expected it to exit stage left more than once in the past. However, it has held its limelight quite gracefully due to the immersive experience it offers the target audience. Earlier, it was an extra on the sets of conventional marketing, in case the team had some leftover moolah. Neither was it a part of the main cast nor did it contribute significantly to the final box office profits. It has taken over two decades to change that. It was gradual but essential. Today, experiential marketing defines the way brands interact with their target audience during their daily marketing activities and promotional campaigns.
What is an experiential marketing campaign?
A wholesome definition of marketing would be a symbiotic relationship between the brand and the customer. The brand defines the experience of this interaction to the most exquisite detail. The process elicits several emotions and responses from the target audience. It is imperative for the marketing team to ensure that the audience associates these emotions with their mother brand. After learning this, a lot of businesses may want to believe that it is possible for anyone to carry out a successful experiential marketing campaign.
How can you design a comprehensive experiential marketing campaign?
Is it possible for any brand to give their customers a great branded experience? What are the key features that define a complete experiential marketing campaign? How do you know that your brand strategies and marketing techniques are effective?
- Getting to know your customer
- Learning more about your new brand
- Having a touch point that is beneficial for both parties
These are a few of the aspects that are ubiquitous to all experiential marketing campaigns. Traditional event marketing, sponsorship activation of products or property, influencer or celebrity marketing, and immersive in-store activities characterize a memorable experiential marketing campaign. For example – IKEA's new furnished wall-climbing, Coca-Cola's campaign for thirty beachgoers, Rexona’s invisible walkway prank and Google’s Building a Better Bay are some of the stellar examples of this new-age marketing tool that has reached out to millions across the world and given these brand names significantly more recall value.
What are the three aspects of excellent experiential marketing you need to know?
Learning about your customers
Getting to know your customers will help you understand what they like and what they want. The average attention span of a human being is about 8 seconds, which is slightly longer than that of a fish. You have to make an impression within those few seconds. That is why you need the assistance of the best experiential marketing agency to build a campaign that rings a bell with your audience. Customer engagement is the first most crucial task for a brand. According to Anne Fisher, the eminent business researcher, and author, after you capture their fleeting attention, you have around 4-minutes and 52 seconds to deliver your message. That is usually more than enough a brand needs to carry a smartly constructed message.
Learning more about yourself
Unless you know your brand inside-out, it will be difficult for you to approach the potential customers and the existing ones with a new message. Experiential marketing cannot stand on hollow grounds. You need to build a robust foundation with stats from previous marketing campaigns, find out the ROIs for past promotional offers and the kind of approach your customers prefer. These are the most basic things you need to learn about your brand. You need to think about experiential marketing as your grandma's cookie recipe. The essential ingredients remain the same, only the garnish varies.
Open a two-way line of communication: create a touch point
A customer's journey is the most critical deciding factor for the future of a brand. To understand the effectiveness of a brand's marketing, you need to find out if your customer is receiving the correct information about your brand and if he or she is acting on it. Creating useful touch points can help you establish a valuable relationship between your customers and the brand. Touchpoints should be mutually beneficial, and they can improve the ROI between the customer and brands.
How can you improve your existing experiential campaign now?
An excellent experiential campaign needs fabulous storytelling. A good story can elicit human emotions, the most vital component of any campaign. Human emotions strengthen these marketing touch points since these stories enable the target users to identify with the characters of the story and the storyline. The audience has a habit of experiencing stories rather than merely listening to them. Most importantly, people are more likely to share these stories with other people, when they identify with them. Some of the best stories in experiential marketing are honest, simple and clear. Ambiguity in the storyline and character is never the way to go about constructing a fruitful or high-profit campaign.
Here are a few good practices you should adopt to construct a great storyline –
- Always set short-term goals and set down more than one way to measure the outcomes of this process.
- Conduct intense research on the current market.
- Find out why you want to work on experiential marketing. Jot your priorities down.
- Establish multiple online touch points and maximize the interaction through social media.
- Always offer your customers something they can value. A ballpoint pen or monogrammed caps help little to establish mutually beneficial two-way interactions.
Experiential marketing is a powerful tool that drives 80% more engagement than the conventional methods of marketing for the brick-and-mortar stores or the online promotions for web-based businesses do. It offers a distinct competitive edge for the brand that helps the owners to create multiple strong bonds with the potential customers. You should never forget that over 84% of the millennial customers rely on word-of-mouth marketing while buying electronic appliances. Research by Ogilvy, Google and McKinsey show that customers rely on opinions from their friends, relatives, and fellow customers during the purchase process. Therefore, experiential marketing is the most cost-effective, yet versatile way to reach out to your customers and make an impression in record time.