Experience Experiential Marketing
In the digital age, everyone has a smartphone and people are looking for something more exciting than what is happening on the small screen. The market is getting more competitive each day due to the advancement of technology, which raises the bar of consumer expectations to a new level. Nowadays, brands are craving for a new marketing execution to make them more memorable in the eye of their consumers.
Experiential Marketing is a marketing strategy that directly engages consumers and invites and encourages them to participate in the evolution of a brand or a brand experience. In other words, it is the best strategy for brands to create personal and emotional connections with their consumers. Experiential Marketing can engage a single person or hundreds in a crowd.
We can see how big brands are trying to tap into this to differentiate their brands and also show how creative they are. Since regular types of advertising content are likely to be ignored by the audience, brands need to be more aggressive to get the attention of their target customers. What was the last billboard you saw? We are overwhelmed by the advertising from all the media around us. That is why consumer engagement is highly important to the brand.
Experiential Marketing also gives participants the sense of exclusivity. People love to be important and exclusive. Luxurious brands can make use of this strategy to give their customers a good experience. People are more willing to be advertised when they feel they are specifically chosen. They feel that they are important and not everyone will have this experience.
While traditional advertising and marketing strategies are very difficult to find the best metric to measure success, experiential marketing is not too difficult to do so. Marketers know who the subjects are and can measure the response right on the spot. It seems to be a very promising strategy for marketers to consider when developing a marketing plan. However, better metrics for success measurement are required to make sure that the goal is achievable within the reasonable budget.
Author: Ken Sinlapawanich, MBA Consultant