Experiential marketing isn’t something reserved for big business with equally big budgets – elements of experiential marketing can feed into campaigns, whatever the size of your company. For many, the aim of experiential marketing is to accelerate the customer’s decision making process, which executed well, can reduce your marketing and ad spend elsewhere.
This post looks at the key components of experiential marketing, pushing you to think beyond handing out samples or promotional products and connecting with your target market. Before you start building your campaign the first thing you need to decide whether you intent to go it alone or seek a little help with your endeavours.
Go it alone: If you’re planning a very small-scale campaign you may decide that you can’t justify the expense of bringing in an agency to help. For simple sample distribution and pop up projects this may well be the natural course, though it’s worth bearing in mind external agencies can provide extra insight on how to best target your customer and may be able to provide consultative support rather than overseeing the whole project for a larger fee.
Bring in the experts: Hiring experiential marketing experts should give you access to fresh ideas, but more importantly perhaps, it allows you to tap into tools, technology or connections with people that you may otherwise be unable to set up. These elements could elevate the impact of your campaign and in instances where you are hiring equipment and tools rather than buying them, you could actually save money.
Benefits and performance indicators of experiential marketing
1) Hands-on product experience
At the centre of most experiential or field campaigns is the goal of taking the product or service offering directly to the customer and asking them to experience it under pre-determined conditions without the barriers that may prevent customers from trying it. This can take the form of unusual product launches, demonstrations or even interactive competitions.
2) Brand differentiation
Experiential campaigns can really help to differentiate products and services in the market place and shape brand persona. This is why new drink or food products are often launched through field marketing with one off VIP dining experiences or club nights offered up as unique prizes. At these types of events the venue, bands or DJs playing all help to define the product and act as an extension of the brand.
3) Relationship building and data collection
Experiential marketing campaigns often present the perfect opportunity to connect with potential customers on a longer term basis. Whether it’s something as simple as asking people to sign up to your newsletter in order to receive special offers or people using an app on their smartphone to enhance the particular experience, there are plenty of opportunities for targeted data capture and more organic relationship building.
4) A memorable first impression
Creating a campaign around an experience allows you to shape a positive impression in advance of a potential purchase. In addition, building campaigns around a unique event or experience creates a catalyst for potential customers to come into contact with your offering and ultimately an experience to remember too.
5) Shareability and social signals
Done well, experiential marketing can do a lot of the leg work for a larger campaign. By creating something that customers want to take part in, engage with and naturally share, word-of-mouth advertising should become a by-product. And, in these times of social media sharing, this means considering a social element to campaigns so that experiences result in social signals – growing your brand’s footprint on line, driving awareness and increasing footfall or site traffic.
This helpful business information was sponsored by Kommando.