Experiential Marketing Explained

Have you ever wondered why do people prefer to go to a live concert when they can listen to the same music at home? Or what’s the difference between watching India vs Pakistan cricket match in the stadium versus watching it live on TV?

Answer — Experience or rather the power of Experience

It will change the way manufacturing units function as one can know everything that is happening in the factory, knowing which parts are off-limit. There are many more ways in which AR revolutionizes manufacturing industry:

There’s just something different about participating in a way that allows you to be part of something as opposed to merely witnessing it via a technological channel. The unique and enriching blend of sights, sounds, tastes, textures and smells all add up to create an experience that simply isn’t available by any other means.

In this blog, we are going to dive deep into the world of experiential marketing and how it can add value to your business.

What Is Experiential Marketing?

Experiential marketing is a marketing strategy that involves and engages the viewers and creates a real-life experience that will be retained or rather remember. This type of marketing concentrates on making the consumer experience the everlasting and impactful enough for its user to initiate an action. Action may be in the form of sale or the one that will inspire them to share with their friends both online and off.

Sometimes referred to as live marketing, at its core, experiential marketing is all about immersing consumers in live experiences.

Benefits of Experiential Marketing

Any time a brand makes its audience happy, it rewards them big time, and experiential marketing gives consumers the feel-good sensations needed to cultivate true brand loyalty and advocacy – the blend for creating brand heroes who spread the word about their beloved companies and products.
The most rewarding bonus of this marketing strategy is how it drives word-of-mouth advocacy; as per research conducted by Google, Ogilvy, and McKinsey shows that word-of-mouth plays a profound role to influence consumers when making purchasing decisions than they are by print media, television, movies, and brand websites.
Experiential marketing is considered to be one of the most potent form of word-of-mouth driving activity for 50 to 80%. Thus, one of the best ways to gain a competitive edge is to steer marketing efforts toward building strong relationships with customers via experiential marketing.

Should you try experiential marketing?

Now that we have discussed what experiential marketing is, you might be thinking of how this unconventional form of marketing can be beneficial for your brand? Or when should your branding incorporate an experiential marketing campaign? Or is it even worth trying?
It all depends on your, goals, timeline, and resources.
Experiential marketing can help you humanize your brand and create experiences that leave people with lasting positive brand impressions. Although these experiences are real-life and in person, you need to mate them with social and content to amplify your efforts across channels.
It’s not sufficient to offer your audience a prize wheel or raffle drawing and call it a day. This type of interaction is far away from the idea of experiential marketing. It is important to create touch-points to engage attendees in unexpected yet amazing ways.
Therefore, we highly suggest exploring this form of marketing for your brand as this would not only help attract a new audience but would also help you gain a significant edge over your competitors. To know further how you can utilize experiential marketing to your advantage, you may contact us for a discussion.