Growing a business is easier when you have the right tools and know the right channels to use when pushing your product or service.
At this point, experiential marketing is one major arm of marketing, whose effect shouldn’t be undermined, in reaching your target.
Experiential Marketing involves the different means to which consumers get to experience your product or service and this can range from road shows, product sampling, exciting brand activations to insightful workshops.
In this form of marketing, you want to give your consumers the opportunity to walk with you on your brand’s journey. This medium helps to tell your brand’s story because if you don’t tell it right, the consumers will make up one that doesn’t quite define your brand’s purpose.
At this point, you may be wondering how Experiential Marketing actually helps you gain more customers, so let’s explore how that happens already.
Landing More Customers With Experiential Marketing
The science of experiential marketing is pretty much understandable: make your customers fall in love with your brand through memorable experiences you created specially for them.
An experiential campaign might be quite eventful but is it enough to land you more customers? The answer is yes, but if you align yourself with a few principles.
Just like everything else, there is a method to the madness in experiential campaigns and it’s highly important that these principles be properly understood.
These principles include:
- Ensure your experiential marketing goals are properly aligned with your marketing goals.
- Clearly map out your targets from a clear-cut strategy.
- You need to set your budget just right.
- Choose a favourable location for your campaign.
- Integrate your experiential campaign with other marketing channels and platforms. A good experiential campaign is one that can ghet cascaded front he offline to the online space.
- You’d need to hire an effective Experiential Marketing Agency
- You should know who your target audience is.
- Last but not the least, you should measure performance after the campaign. A campaign’s performance can be measured through metrics and the resulting KPI’s.
Still not convinced? That’s okay, we’ve got more reasons why you should channel a lot of energy into creating an effective experiential campaign that will create good lingering memories in the minds of your consumers.
Check them out below.
The Importance Of Experiential Marketing To Your Business
Statistics show that 66% of people prefer to pay more for better services and 32% of customers will leave a brand they love after one bad brand experience.
This shows you to never undermine the relevance of experiential marketing. In fact, it should be a priority because the simple truth is companies that focus on offering care and quality customer experience garner increased ROI.
One of the main intent of building a brand is to generate revenue while meeting the needs of different people across different platforms, places and touchpoints.
Experiential marketing is your opportunity to connect to your customers on a deeper emotional level and once their love gets captured, they will stand by your brand.
Let’s explore some reasons why you should deploy experiential marketing for your business.
A few things birth the idea of a new business but we’d focus on two major ones-wealth creation and passion for impacting lives. Every brand has its purpose and it’s important to acknowledge this first.
When you bring a brand’s purpose to light, it’s easier to know how to reach the consumers. You spend money to make money but it’s never so certain that your capital will yield interest and this is why you need experiential marketing.
70% of people patronise a brand again after attending experiential campaigns and an exciting 85% are likely to buy after experiencing a brand.
Given that it helps you bring out the emotive side of your business, this love reflects in the numbers of course. One good service and a customer’s decision changes to favor your brand.
Good Brand Reputation
Experiential marketing gives you an opportunity to build a brand and a good name for your brand.
When you run successful experiential campaigns, you leave your stamp of goodness in the market as the brand that understands the core needs of the people.
Once you understand your consumers, it becomes easier to build a good name for your brand. A good name goes before you, so it’s no wonder that brands that offer awesome consumer experience have their products reach different locations, either through retail or wholesale.
This promotes easy travel by word of mouth(WOM) and once people go into stores, insisting on purchasing your product or service, the wholesalers or retailers have no choice but to become loyalists too, after all they work to serve the masses.
With experiential marketing, data collection is easier. When your experiential marketing cuts across other platforms, you can simply get feedback of your product or service from the comment section of your social media pages.
Customer feedback creates room for growth because when the customers are happy, they leave comments in your comment section or you’d notice a significant increase in their purchasing power.
It helps you understand your consumers better. When you show them you care, expect feedback. This helps you connect and know how to serve them better.
This is what many brands wish they knew – what the customers want. So, you are a lucky brand if the customers are eager to help you understand them by offering feedback.
If you experience a decline in sales, all you need is their feedback and acting on it to bounce back even better and take your large portion of the market share.
Good Partnership Opportunities
Experiential Marketing gives you room, through different activities to grow your brand’s fan base. When Your product is sampled in the course of your brand activation, and the people align with your product, more sales is achievable and this means increased revenue.
Businesses Nowadays, love the idea of collaborating with each other because it can lead to something grander. Simply because your business is now on a pedestal where people can see its potential, it becomes easier for you to find partners, investors or sponsors as the case may be.
Collaboration is the future and a propeller on the path to success. When other businesses want to partner with you. This could lead to the birth of multi channels of wealth creation, impacting lives and creating job opportunities.
Tenets Of A Successful Experiential Campaign
The tenets of a successful experiential campaign involves a couple of things that ought to be in place for an experiential campaign to be tagged ‘successful’. Let’s explore them below.
Every good branding requires good strategy. Good strategy shines the light on the manner of approach and pressure used in market penetration.
It forms the bedrock of effective marketing and advertising. It informs you of your target audience, their behavioural patterns and where their demography is. For every business to flourish, this information is imperative.
When your strategy is solid, it kickstarts the engines of your experiential campaign.
A Reliable Team
The team is as important as the service rendered. The right people for the right job pulls the right effect and that is why a reliable team is very important.
You can’t do everything alone but you can delegate it to a team that you employ. In some cases you may decide to build your team yourself.
Building a team yourself may limit your attention to other things, that’s why employing a reliable team is a more preferred option.
In selecting the best team, you need to do your research, see the works they’ve done, and also analyse their integrity.
Examples of Experiential Marketing You Can Organize
When creating experiential campaigns, it’s improper to have just one way to achieve the goal when there are so many innovative options you can explore. First, understand the different tenets of experiential marketing, sort them out and this will give you clear directions of the type to do.
Some examples of experiential campaigns you can explore are:
- Event Marketing
- Guerilla Marketing
- Retail Installations
- Brand activations
There are other options to explore, you can see some examples of effective experiential marketing done by Transpose services.
How To Know A Successful Experiential Campaign
Seeing we are on a path already, let’s examine some of the ways to identify successful experiential campaigns.
Check The Numbers
One of the most effective ways to measure the success of an experiential campaign is in the return it brings back and the numbers don’t lie.
If you experience a significant increase in sales, then it’s because people actually loved the customer experience and this informed their buying decision afterwards.
This shows your product or service is on their mind, and you are to keep up with the awesome customer experience to keep them steady with you.
In your journey, you need a team who’s well experienced and sees to the task at hand. See how well Transpose services created massive publicity for GTB’s *737# through captivating brand activations. Awareness increased by a significant percentage.
Now this is how you draw sustainable attention to your brand.
When consumers start sending in their feedback, this means they care enough to tell you what they think.
If they send a feedback of disappointment, this is because they still care and want you to regain their love back. They want to be loyal to your product or service.
If they send a feedback of approval, this means they’re impressed with your product or service and want you to stay like that or improve as the case may be.
Whichever way the cards get played, their feedback keeps you on track and helps you keep a linear focus when it comes to managing your customers and staying in business.
Word Of Mouth
You know you’ve done something when consumers spread word around about your unrivalled excellent product or service.
People talk. When they love a product, they talk about it and offer unsolicited recommendations to the people around them.
When they dislike a product or service, they also spread word about it, forgetting that what works for Mr. A may not work for Mr. B.
People trust the recommendations of the people close to them, that’s why sometimes before they make a buying decision, they read reviews or ask friends who have used the product or service for their performance.
After a successful experiential campaign, word will go round, and this can get tracked through ROI, customer data and customer feedback.
A successful experiential campaign is really not difficult to achieve, especially when you follow the different tenets involved in making it a success.
Now that you are apprised with the tenets and other information you need, developing a successful experiential marketing campaign shouldn’t be such a problem anymore.
For further assistance, contact Transpose Services on +234 818 113 9090.