Prospective Path for Experiential Marketing

Posted in Marketing & Strategy Articles, Total Reads: 2474 , Published on 01 February 2017
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“People do not buy goods and services. They buy relations, stories and magic.”

-Seth Godin

The word Experience is an occurrence that leaves a lasting impact on someone. Experiential Marketing is a strategy that involves customers encouraging them to contribute in the development and progression of a brand by marketing of a brand/product /service experience in order to remain in the minds and hearts on consumers for a longer time.

In the era of digital Darwinism, FOMO (Fear of Missing Out) is what scares people from being socially disconnected. The eventual fear of social extinction makes them be active on the social media platforms and hence be aware about the latest event happenings and being able to get the chance to create memories by being a part of it. Experiential marketing thereby not only engraves a lasting impression on people’s minds but also creates brand advocates and partners along the brand’s journey.



Image: pixabay


Events have the clout to influence a customer’s opinion relating to a brand and stimulate their purchasing habits, using the right brain theory, thereby establishing an emotional and sensory connection. However, experiential marketing need not be event-centric at all times. They can take an integrated approach. The prime purpose is to experience a brand in a tangible, offline way, but one can still cater to the digitally consumed cult by creating brand hashtags, live tweets, Youtube video updates etcetera.


The big names in the industry along with them small ones, all aim at creating brand recall and TOMA (Top of the Mind Awareness) through various campaigns. Some of the most successful campaigns of the past years are:

Samsung:

As part of its sponsorship of the 2012 Olympics, Samsung ignited the brand experience and involvement fire at several destinations around London. The interested people could engage and entertain themselves with Samsung’s Olympic Games app or take a picture on the Galaxy S3 and immediately turn it into a personalised badge.

Adidas and Derrick Rose:

The concept of Pop-Up stores is not an unknown and pristine one but in London Adidas' 'D Rose Jump Store' carved a niche beyond the regular. Chicago Bulls point guard Derrick Rose was present to test and summon the brand fans to earn a pair of free trainers by taking them off a shelf that transpired to be 10 foot in the air. It was a pertinent, exhilarating and unforgettable involvement for all the fans who took part.

Ikea’s Store Slumber in UK:

In Ikea’s Essex Store in UK the concept of a slumber party was introduced in acknowledgement to a Facebook fan group titled ‘I wanna have a sleepover in Ikea’s. Approximately 100,000 people hinged to be a part of the cluster to be able to attend it with Ikea giving the selected 100 an opportunity to spend a night in its warehouse. The victors were bestowed with luxurious and relaxing manicures and massages, along with having a slumber time tale read to them by a reality TV star. A sleep expert was also appointed to advice people and possibly help them select a new mattress.

The Simpsons Movie:

In the year of 2007, 20th Century Fox amalgamated with 7-Eleven in order to promote the release of The Simpsons Movie and thereby converted twelve of its stores into Kwik-E-Marts, operated and taken charge by Apu in The Simpsons. The Kwik-E-Marts provided slender quantities of KrustyO's cereal, Buzz Cola, and Squishee frozen drinks thereby enabling the customers to experience the feel of the movie and associate to it by using the products they buy on a daily basis.

The usage and lasting impact tactic used by experiential markerters is just not limited to B2C but, in Marketing Infographics by Katie Sculley 67% of B2B marketers say that events make for one of the most effective strategies they use.

GE-Healthymagination:

GE summoned industry experts to experience its “Healthymagination” strategy. To enable everyone to witness the power of this initiative, GE tied up with agency EA to craft “movie sets” that signified diverse healthcare settings where Healthymagination work transpired: An urban clinic, a rural African clinic and an emergency room. The intention was that doctors would share their anecdotes in front of 700 attendees there by illustrating how GE’s healthcare technology occupied a gigantic role in each setting. The agenda of Healthymagination was initiate a dialogue regarding a critical yet afflictive issue: Access and availability of healthcare in destitute fragments of the world. The success of this campaign was witnessed in the fact that it bagged a Business Marketing Association Tower Award.


Experiential marketing key takeaways for marketers:

• Experiential marketing as a co-branding breakthrough: Select a partner with a target audience that would be attracted to your brand, but might be hard to reach ensuring a win-win scenario for yourself, your partner and the consumers.

• Create an experience for the target who are not confident about the usage of your product/service. Search for ways for them to network with your brand by creatively spelling out the ways in which it can be advantageous to them.

• Get rough- If your trade revolves around something that’s a taboo to discuss, generating an experience by ensuring respect for people would help enabling it initiate a connection.

• Ensure the message and mind share your brand to send and have, not necessarily tied to an actual product directly. A new concept or idea can have an experience built around it.

• Social Media is the new hero- Formulate a branded hashtag so that the audience can share the experience on social media.

• Going the local way- As per Cone Communications, Millennial CSR Study. 72% of individuals said they would share a local experience by a business with family and friends.

• Engrave the “you’re already there” tactic. Locate your target’s hangout and capture them there, rather than investing in getting them to act in a place where they don’t devote their time.

• Visually denote the influence of joining in the experience- Make use of Info graphics to display the results.

• Reminder is the key- Don’t be anxious about nurturing your leads.

• Ponder upon the areas your target audience might aim to achieve, and that you’d like to connect with your brand. Thereby, build an experience pivoting that.

• If a product procurement is necessary to be able to participate in the movement, then make it convenient.


Experiential marketing Challenges in India:

1. Deficiency of experienced and skilled talent

2. Myopic visibility of marketers

3. Destruction of property used in the campaigns

4. Burden on agencies to measure the ROI

5. Absence of professional courses related to Experiential Marketing


Engagement marketing, event marketing, live marketing, on-ground marketing or participation marketing are all dynamic synonyms given to the concept of experiential marketing. In this era where the tyranny of apparent congruency dominates the society, with the prompt development of new technology, the event and experiential marketing field is persistently in a flux. From searching for the event marketing software that best caters to ones needs to combining virtual reality and artificial intelligence into the events, there are constantly new tools and technology that enable take experiential marketing to the succeeding level.


The top trends in this domain for 2017 would be as follows:

1. Partaking the Brand Love: A study by EventTrack discovered that 98 percent of customers create and capture content at live events, and 100 percent of those who capture content display and share it throughout their social media networks.

2. Feeling of Community: Eventbrite reported that 69 percent of millennia’s engage in attending events that makes them sense connection with other people on a small scale, the community and the humongous world at large.

3. Accomplishment of Knowledge about You: Event Marketer reported that post activation attendance, 98 percent attendees felt a greater inclination towards purchase.

4. Memories in the Making: The youth feels that some of the best memories of their lifetime has been at live events.

5. Getting Consumers Involved on various other platforms simultaneously.

6. As per experts at 4 UK-centred brand experience agencies, some of the prime experiential trends of 2017 would involve artificial intelligence that co-construct experiences, social media amalgamation through live video streaming and virtual reality.

7. Event aces will start meeting customers at their own hubs instead of drawing them to a centralized location.

8. The closure of an event will not close the Experiential Campaign: Stand-alone campaigns are no longer the aim of marketers who are seeking to build experiential campaigns as the basis of their future campaigns by going the digital way.

9. Increased users of live streaming to augment and supplement events: Live streaming facilities like Facebook Live are a bonus element the event without taking away from customer’s longing to attend thereby creating enthusiasm around forthcoming events.

10. Emotional Branding and Digital Marketing


The 21st century demands uniqueness. It demands marketers to be witty, balanced and integrated in their approach. Thereby, the success mantra to be adopted is ‘Sense and substantiate the Experience’. Give your target an everlasting impression. Give them a chance to feel. Give them a reason to believe. Lastly, give them a way to Connect, Customize and Co-Create.


This article has been authored by Bhavna Tulsian from SIBM-Bengaluru.


References:

1. Deloitte Consumer Review- Reinventing the role of High Street

2. McKinsey&Company- Experiential Learning-What’s missing in most change programs by By Claus Benkert and Nick van Dam

3. Experience the Message- How Expriential Marketing is Chaning the Brand World by Max Lenderman

4. Experientoal Marketing by Bernd H. Schmitt

5. www.markdebrand.com

6. www.factory360.com

7. econsultancy.com


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