When it comes to brands, people are more cynical than ever. When trying to brand your company it is becoming more difficult than ever to remain relevant. This is especially true if you are only using the older and more traditional forms of marketing. Creating a new and lasting impression in the digital age can be difficult. This is where experiential marketing and Absolute XM come into play. This type of marketing will put people first by aiming to challenge, inspire, and motivate them. The marketing campaigns can span from live experiences to festivals, digital campaigns, and social content. Let’s take a closer look at experiential marketing and how it can work for your business.
First, let’s discuss in more detail exactly what experiential marketing is. The true definition of experiential marketing is an advertising strategy that is focused on helping the consumer truly experience a brand. It differs from traditional marketing that tends to focus on simply broadcast the brand and its benefits to a large audience. Instead, experiential marketing is often geared towards immersing the customers with the products by engaging the potential customers in a branded experience that is immersive. Essentially, a company that uses this type of marketing strategy will help create emotional and memorable experiences for their current and potential clients. When a person feels emotionally connected to a brand, they will be more loyal to the company. This will improve the lifetime value of the customer.
The companies that are the most successful with experiential marketing techniques will provide their consumers with samples as well as attractive offers. The real magic occurs when a company puts groups of customers and individual customers in an immersive brand experience. This means that the brand goes above and beyond a display ad, PR stunts, and social media ads in order to create a positive emotion within the people. This is one of the best ways to create brand loyalty. A successful experiential marketing campaign will encourage customers to come back as a way to influence their lifetime value as a customer.
When it comes to marketing a company, it is important to always put the best practices in place. When it comes to an immersive marketing approach, the most important thing that you should remember is that it is all about the customer. The customer must come first when exploring this type of marketing strategy. In order to successfully engage an audience, you have to put yourself into the mind of your consumers. When you do this you will be able to foster ambassadors for your brand. These people will become your warriors as they are going to promote your brand to everyone they know. Often times, your brand ambassadors will be better at promoting your brand than even your best salespeople. When it comes to promoting your brand loyalty, the most important thing that you can do is to put yourself in your customer’s shoes.
Think of experiential marketing as a storytelling opportunity. Most marketers understand how powerful storytelling can be. A consumer that identifies with your brand’s story will make a stronger connection to your company as they will have the emotional response that a marketer is always trying to create. When it comes to storytelling it is all about the experience. Not just listening to the story, but truly experiencing it and identifying it. The best stories will have characters that the audience wants to root for. A clear beginning, and end are also important for a good story that your customers will be involved in.
Some additional best practices for experiential marketing include:
When a brand makes their customer happy there are many benefits. Experiential marketing provides consumers with the happy emotions that are necessary for cultivating brand loyalty. Once again, this type of marketing is the best way to create ambassadors for your business. These ambassadors are going to help spread the word about your products and your company. Think of a brand ambassador as a customer who is also one of your best marketers as they will recommend your products and services to everyone that they know.
Perhaps the best benefit of experiential marketing is that it drives word of mouth advertising. Every company knows that the best advertisement is word of mouth. If you read anything about any type of marketing, including any research that has been done by companies such as McKinsey, Ogilvy, and Google, you know that consumers are most influenced by word of mouth advertising when they are making a decision about a purchase. This means that a person is more likely to purchase a product from a business if they have heard about it from a friend or family member than they are if they have just seen it on television, at the movies, through print media, or on the brand website. In fact, research has shown that in any product category, word of mouth drives nearly 50 to 80 percent of the activity. This means that one of the best ways that you can gain a competitive edge in your niche of the market is to make sure that you are building strong customer connections.
Now that you understand why experiential marketing is important for your company, it is time to look more closely at some of the ways that you can implement experiential marketing. Many people confuse experiential marketing with PR stunts and others view it as event marketing. However, this is really not the case. Essentially, experiential marketing is simply providing your consumers a way to interact with your brand in person. The campaign should be focused on interaction with the brand.
Some good examples of experiential marketing campaigns that have really worked include: