Marketing91

  • Home
  • Categories
    • Marketing
      • Advertising
      • Branding
      • Sales
      • Retailing
      • Consumer Behavior
      • Distribution
      • Market Research
      • Pricing
      • Product Management
      • Strategy
      • Segmentation
      • Targeting
      • Positioning
      • Services Marketing
      • Articles
    • Digital Marketing
      • Blogging
      • SEO
      • E-commerce
      • PPC
      • Email marketing
      • Social Media Marketing
      • Facebook Marketing
    • Brands Analysis
      • Marketing Mix
      • SWOT
      • Strategies
      • Competitors
      • Lists
      • Expensive
    • Management
      • Customer Management
      • Communication
      • Leadership
      • Decision Making
      • Delegation
      • Organizational Management
      • Motivation
      • Personal Development
      • Project Management
      • Risk Management
      • Team Management
      • Time Management
    • Careers
      • Interviews
    • Business
      • Business Models
      • Logistics
      • Supply Chain
    • Human Resources
    • Skills
  • News
  • Academy
  • About Us
    • Contact Us

Experiential Marketing – Definition, Meaning, Tips, Elements, Benefits and Examples

March 24, 2023 By Hitesh Bhasin Filed Under: Marketing

Experiential marketing is a combination of strategies that invite audiences to engage with a brand via some real-world/branded experiences. It is also understood as ‘live marketing’, ‘engagement marketing’, or ‘event marketing experience.

All in all, a winning experiential marketing strategy is often referred to as specific activities undertaken by the brands to promote their product through unique and dynamic branded experiences. Key things experiential marketers should pay heed to are-

  • Experiences in marketing are quite necessary to grab the attention of your buyers and lure them to buy the product.
  • Experiential campaigns transfer your actual motive directly to the consumers.
  • An experiential campaign should allow consumers to directly engage through meaningful, memorable experiences.

Table of Contents

  • What is Experiential Marketing?
  • Why is experiential marketing important?
  • Key Elements of a successful Experiential Marketing
  • How to plan an Experiential Marketing Campaign
    • 1. Put the Customer First
    • 2. Know the power of Storytelling
    • 3. Let your brand stories connect
    • 4. Set clear goals
    • 5. Identify and Research the market for experiential marketing
    • 6. Know the importance of branded experience in experiential marketing examples
    • 7. Make your Experiential Marketing Campaigns result-driven
    • 8. Use online and social media channels
    • 9. Make sure the event marketing strategy for your brand ensures value addition
  • Benefits of Experiential Marketing
    • 1. Better Reach
    • 2. Brand Loyalty
    • 3. Customer Growth
  • Examples of Experiential Marketing
    • 1) Free Movie Tickets by CocaCola
    • 2) Betfair’s Chaos due to Octopus
    • 3) Refinery29: 29Rooms
    • 4) Volkswagen: Piano Staircase
    • 5) Facebook: Facebook IQ Live
    • 6) Experiential marketing campaigns with Amazon Ads
  • Should you try experiential marketing?
    • Summing Up!

What is Experiential Marketing?

Experiential marketing is a type of marketing technique that directly influences customers through brand experiences. In short, the brand is asking the consumers to try their product before it is launched in the global market. Such branded experiences lead to a stronger bond between both sides and getting to know each other deeply.

Take the example of GuitarGuitar, one of the top guitar retailers in the U.K. – they designed soundproof booths to give customers a unique solo experience with guitars before purchasing them.

Nothing is better than generating a kind of emotional connection that will be quite memorable for the customers. Companies tend to stick to this type of marketing for improving their CLV (Customer Lifetime Value). CLV measures the profit generated by a single customer for a brand in his lifetime association with the company.

Also Read  What is Situation Analysis?

Experiential marketing effective strategies come in all shapes and sizes, ranging from interactive product demonstrations to immersive brand experiences to create brand awareness and optimize conversions. Some of those can be of the following types –

  • Solo experiences
  • Pop-up shop
  • Augmented reality and metaverse
  • Product demos
  • Co-branding
  • In-person events or experiential events
  • Product Sampling
  • Conferences
  • Classes and workshops
  • Tours, etc.

Why is experiential marketing important?

Experiential marketing has become increasingly important because it allows businesses to connect deeper with customers. The key difference between experiential marketing and other types of marketing is that an experience takes place in “real” life.

The main advantages of experiential marketing include the following:

  • Raise brand awareness
  • Create search demand
  • Create a bond between a brand and its audience
  • Deliver authentic in-person experiences
  • Capitalize on the fear of missing out
  • Boost product or service trial
  • Drive sales conversions

Key Elements of a successful Experiential Marketing

It is a common myth that merely providing free samples of your product will do the job. It is not that simple and includes a lot more hard work for gaining your customers’ trust.

The following factors will help you to create a better experiential strategy for accomplishing your goals.

  • Target Audience – It is unnecessary that your complete customer bank would like to demonstrate your product or service. Sometimes, choosing and dividing it into various sections is a better option. Try to figure out the audiences interested in being a part of your experiential marketing campaign.
  • Awareness – If you are launching a strategy of experiential marketing, make sure you have a sufficient number of people waiting to use it. This can only be done through the proper advertisement of your product. The main motive is to make the customers aware of your actions. Promotes your campaign on social media platforms like Facebook, Instagram, Twitter, etc. Experiential marketing channelizes around effective awareness strategy for powerful marketing and branding.
  • Background Connection – Customers would prefer to test your product only if they are satisfied with the idea behind it. Ensure to generate an appropriate background for the product that will give them reasons to be a part of it. Lure them with some exciting offers and establish a connection with them. Thus, customers would relate to your brand in an emotional sense, and eventually, it will benefit your product sales.
Also Read  Three methods for efficient warehousing of products

How to plan an Experiential Marketing Campaign

1. Put the Customer First

You need to put the consumer first to foster brand ambassadors or brand warriors who can do word-of-mouth experiential marketing for you

2. Know the power of Storytelling

You should understand the power of storytelling, as users who relate to a story make better connections with the brand and give favorable responses via your experiential marketing strategies.

3. Let your brand stories connect

Your brand stories should truthful, plus they might incorporate personalities or characters your audiences can feel to root for, as it lets experiential marketing be more conversion-oriented.

4. Set clear goals

Marketers should set clear goals and outcomes, plus they should also determine ways to measure those goals and outcomes, as it will optimize the success rates of experiential marketing campaigns.

5. Identify and Research the market for experiential marketing

For channelizing an experiential marketing campaign, it is inevitable for marketers to Identify and exhaustively research their target market

6. Know the importance of branded experience in experiential marketing examples

You should always remember why offering real-world/branded experiences work by going through some of the popular experiential marketing examples on the web

7. Make your Experiential Marketing Campaigns result-driven

Your experiential Marketing Strategy should revolve around devising a creative, engaging, exciting, and effective activation

8. Use online and social media channels

Marketers should try to find out ways for optimizing online engagement via social media and other channels

9. Make sure the event marketing strategy for your brand ensures value addition

You should try to offer users something valuable that can channel brand awareness and let your audiences and users work as brand ambassadors.

Benefits of Experiential Marketing

Benefits of experiential Marketing

Next, it is time to throw some light on live marketing benefits that can change the game completely. These are the reason why the hype is created about this experiential marketing style,

Also Read  Registered Trademark Symbol | Meaning, Usage and how to write?

1. Better Reach

Engagement marketing is the best way to promote your product before it is launched in the market. The range of new customers will eagerly wait for the product to hit the sales platform of your store. Such a type of participation marketing campaign is considered more effective than traditional marketing in optimizing reach.

2. Brand Loyalty

It is often seen that loyal customers tend to be a major part of a brand’s overall success. experiential marketing will act as a booster to the growth of trust between both parties. Customers will feel better about your company if they are part of your campaign.

3. Customer Growth

According to several surveys, it has been proved that live marketing enhances the growth of customers. Brands that tend to use more unique methods with a cross-channel marketing plan are preferred when it comes to choosing a similar product. Such an interactive experience will not only increase brand awareness but also nurture customer relationships more effectively.

Examples of Experiential Marketing

It is safe to state that experiential marketing is highly appreciated by consumers and their respective brands. However, it is similar to a double-edged sword that can have a positive as well as a negative impact on the image of the brand. Let us understand this via some examples of experiential marketing

1) Free Movie Tickets by CocaCola

The renowned soft drink brand CocaCola organized a time run for the customers to have a chance to win free movie tickets.

They only have to use one of their vending machines at an airport and try to reach a specific destination in 90 seconds. This was done to make them aware of physical fitness and get them attached to their brand.

2) Betfair’s Chaos due to Octopus

Betfair is one of the famous gambling companies that came across an interesting idea for promotion purposes. For the sake of inviting people during the World Cup 2014, they planned to bring a huge octopus to the site.

Also Read  9 Functions of Wholesalers which makes them important in Distribution

Unfortunately, the trailer broke on the way, and it caused huge chaos on the street. Later, they apologized for their action on their social media handles.

3) Refinery29: 29Rooms

For around three years now, this lifestyle brand has facilitated the 29Rooms events that it says- are “an interactive funhouse of style, culture, & technology.” It comprises 29 independently branded and curated rooms – and participants can encounter something else in everyone.

The rooms are planned and made with brand partners like different musicians and artists along with shopper-facing brands such as Dunkin’ Donuts, Cadillac, and Dyson. This experiential marketing example shows how to go crazy, yet keep it on-brand.

It suggests that an experience ought to be memorable as well as relevant to the individuals joining in.  It is also recommended to partner with other creators like artists or musicians to make experiences conspicuous to expand the brand reach.

4) Volkswagen: Piano Staircase

Volkswagen in the year 2009 opted for this strategy to let individuals be at their most musical side by converting a subway staircase into a giant piano in Stockholm, Sweden when no one was there.

The following day, each step of the staircase started making sounds of different piano keys while people were moving through them. This experiential marketing campaign was based upon “The Fun Theory” which suggests people prefer doing something if it looks fun.

It suggests that ensuring the fun factor in every marketing campaign is highly effective in solving your customer’s problem. Offering a delightful experience is your chance of making a constructive and productive impact on your community.

5) Facebook: Facebook IQ Live

Facebook created Facebook IQ Live for understanding how much data it has about the way people are using its platforms. As a new insights division of Facebook, it brought consumer data to life in a manner that can pull the attention of advertising and marketing executives.

Also Read  What is Fashion Marketing?

This data plays a crucial role in curating live screens for depicting the conversion path of online shoppers when they use social media for making their purchases. This campaign was useful in enabling attendees to get valuable insights on how to use Facebook for optimizing their business presence.

It ensured an experience for the users about the ways they would use a product or service of a business on Facebook.  It lets users interact with a brand in a more creative and result-driven manner.

6) Experiential marketing campaigns with Amazon Ads

With the assistance of the Amazon Ads custom team, brands can craft unforgettable experiences for potential customers no matter where they are in their journey.

Stores offer brands the opportunity to exhibit their products within a comprehensive and engaging shopping experience on Amazon, as well as stay at the forefront of consumer consciousness after an event. With Sponsored Display Ads, companies can quickly craft digital advertisements that support experiential marketing strategies with any budget size.

With Amazon Ads, customers can effortlessly engage with their favorite brands through interactive audio and video ads that boast innovative features. Letting you take your marketing to the next level!

Should you try experiential marketing?

To determine when to include an experiential marketing campaign in your branding event, consider your objectives, timeline, and resources.

Experiential marketing campaigns can be a powerful tool to make your brand or sponsors more human and create experiences that leave consumers with lasting, positive impressions. Nevertheless, for maximum reach, it is essential to combine these real-life experiences with social media and content distribution across channels.

If you want to create an experiential event that will leave a lasting impression on attendees, awarding prizes through a wheel or raffle is not enough. You need to craft creative and immersive touch points which can increase the value of your event for both yourself and any sponsors involved. This may require either significant budgeting resources or working with well-known brands who are willing to help facilitate.

Also Read  Baby Boomers: Definition, Years, Date range, History and Examples

Summing Up!

Thus, the productivity of experiential marketing depends on your mindset.

Some people believe it to be unique, while others mess up badly in getting the appropriate results. You have to plan your every move during this campaign carefully. A single wrong step will do more harm to you than not doing anything at all.

How important do you consider experiential marketing campaigns for optimizing the reach, lead generation, and conversion of a brand?

Liked this post? Check out these detailed articles on Topic of Marketing

Alternatively, check out the Marketing91 Academy, which provides you access to 10+ marketing courses and 100s of Case studies.

Marketing91 Academy

About Hitesh Bhasin

Hi, I am an MBA and the CEO of Marketing91. I am a Digital Marketer and an Entrepreneur with 12 Years of experience in Business and Marketing. Business is my passion and i have established myself in multiple industries with a focus on sustainable growth. You will generally find me online at the Marketing91 Academy.

Related posts:

  1. Value Stream – Meaning, Concepts, Elements and Misconceptions
  2. What is Niche Market – Meaning, Examples And Benefits
  3. Green Marketing – Definition, Benefits, Importance and Examples
  4. Four key elements of Marketing
  5. What is Permission Marketing? Meaning And Benefits
  6. Integrated Marketing Communications – Meaning & Benefits
  7. Greenwashing – Definition, Examples and Tips to avoid
  8. Earned Media – Definition, Examples and Tips
  9. What is Buzz Marketing? Tips, Types and Examples
  10. Time to Market: Meaning, Types, Benefits & Key Points

Join the Marketing91 Academy

Marketing Masterclass

Management Masterclass

Management Masterclass

Communication Course

Communication Masterclass

View All Courses
Economics Masterclass

Economics Masterclass

Sales Masterclass

Sales
Masterclass

Advertising Masterclass

Advertising Masterclass

View All Courses
Leadership Masterclass

Leadership Masterclass

Branding Masterclass

Branding
Masterclass

Strategy Masterclass

Strategy
Masterclass

View All Courses
Not found what you are looking for? Search this website.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement
Recent Posts
  • Informational Power: Definition, Sources and Importance
  • Reward Power in Leadership: Definition and Examples
  • Expert Power: Definition, Examples and Development
  • Legitimate Power: Definition, Examples, Advantages and Disadvantages
  • Nike, Adidas, Shein, and Temu Sent Letter From House China Committee About Forced Labor
Advertisement

Marketing91

MORE INFO

  • About Marketing91
  • Marketing91 Team
  • Privacy Policy
  • Cookie Policy
  • Disclaimer
  • Terms of Use
  • Editorial Policy
  • Advertise
  • Contact us
  • Sitemap

WE WRITE ON

  • Marketing
  • Business
  • Management
  • Brands
  • Digital Marketing
Search
[email protected]

Copyright © 2023 Marketing91 All Rights Reserved