Why Experiential Marketing Works [Infographic]
Did you know that experiential marketing gets more and more popular with brands each year? It might seem surprising that this is the case considering the rise in digital marketing. But the data doesn’t lie…
According to a recent EventTrack survey run by the Event Marketing Institute (EMI), marketers see experiential marketing as an invaluable strategy and brands are increasingly investing in this strategy. The EMI expects an 11% rise in experiential marketing budgets in 2017. That’s a significant increase!
Our infographic uses experiential marketing statistics to break down some of the reasons why it works so well.
Take a look…
As you can see, there are three main areas we cover in the infographic:
- The fact that experiential marketing equals more sales.
- The fact that it benefits the consumer.
- The fact that it can be easily integrated with other marketing strategies.
Here’s our take on the stats…
1. Increased Sales
Judging by the statistics, it’s clear that experiential marketing has the power to influence purchasing habits. 98% of people who attend an activation are more likely to buy a product – that’s a blow-your-socks-off kinda statistic!
But why does experiential marketing produce such amazing results?
Millenials certainly have something to do with it. According to Forbes, Millenials are now the largest generation worldwide, surpassing Baby Boomers, and they have major spending power. One thing that millenials really value is an authentic and personalised experience. They crave experiences and they want to spend their money on them. That’s why experiential marketing results in sales.
The rise of big data is another element to consider. As marketing director Sue Duris writes at CMO, we now have tools that can capture “real-time data and actionable insights” on experiential marketing campaigns. Thanks to big data, brands can personalise experiences more easily and measure ROI more effectively. They can up engagement in real-time and provide more value for the customer. The result, more sales!
2. Benefits the Consumer
As you can see from the infographic, consumers come away from an event with a more positive outlook and more knowledge about a product or service. This encourages them to become regular customers. Why is this?
We’ve already talked about consumers craving an experience. This isn’t just true of millenials but all generations. A live and in-person experience means that brands can forge a real connection with consumers.
The head of the experiential marketing campaign or brand representatives engage with consumers at the event. They thus learn what it is the consumer expects from the brand. At each event you learn what the consumer enjoys and responds to then use this information to drive ROI.
This puts the consumer in charge. When it comes to experiential marketing, the consumer needs to be at the forefront of the campaign. It’s more than simply gathering data, the consumer needs to have a good time.
3. Easy Integration with Other Marketing Strategies
The statistics show that the large majority of marketers integrate experiential marketing with other types of campaigns. Coupling an experience with a complementary digital marketing campaign is the way forward, and it’s easy to do. There are many ways of doing this…
Obviously, it pays to promote an event online before it takes place. But brands are coming up with more and more interactive ways to engage attendees during and after the event. For example, there might be a hashtag associated with an event so that whenever somebody posts on social media about the event or campaign, they use it. Or you might encourage attendees to tag the brand in any post they make.
Over a third of consumers said they would post about an experience on social media. There are, as we just mentioned, ways to get even more people to post online and generate a buzz about an experience or brand, through prominently displaying the event hashtag for instance. It’s vital to implement a digital marketing strategy too, as consumers expect a multi-channel experience these days.
Integrating an experiential marketing campaign with digital works wonders. The amazing thing is, you’re not only connecting with the person who attended the event, but when they post about it during or afterwards, you’re connecting with their friends and family and even strangers who have similar interests.
Bearing all of these facts in mind, you might be wondering what now? What can we take away from this information to make the most of an experiential marketing campaign?
Here are some actionable tips that you can implement today if you want to get the results your brand deserves…
Top Tips for Experiential Marketing Campaigns
- Just as other brands are progressively doing, be sure to invest in experiential marketing. To put it simply, you’ll be missing out if you don’t. The benefits are as clear as day when you look at the statistics in our infographic. So get in touch with Splatter to see how we can help you. We offer a number of services from audits and merchandising to event teams and product sampling.
- Offer an authentic and personalised experience that people will enjoy and want to tell their friends about. Make use of the data to improve your campaign every time. The fact is, if you provide people with value, you are sure to see a return on your investment. Put the consumer in charge (it’s a vital part of branding), learn about their needs and respond effectively.
- Make use of complementary marketing strategies. The opportunities are boundless when it comes to online marketing. Come up with interactive ways to engage attendees and create a buzz around your product or service. Make as many attendees as possible want to post about their experience on social media.
Because we know that experiential marketing works (and you should know that by now too), we want you to have the utmost success with your campaigns. It benefits your brand, it benefits the consumer and it increases sales. What more could you want? If you found this information useful, don’t forget to share this post with your friends and colleagues on social media.