Marketing is always changing. Chances are, a strategy that has worked for you in the past will not always bring the same success. To stay competitive in the dynamic marketing arena, it is important to stay on top of current marketing trends and learn how to use them to best promote your brand.
A new study released by the Event Marketing Institute presents some interesting data on Experiential Marketing. The study reveals that spending by companies on Experiential Marketing and Experiential Marketing events is growing; and with good reason. The figures show that this type of marketing is highly successful; with 58% of event attendees making a purchase following the event, and 86% of those who made a purchase turning into regular customers.
What exactly is Experiential Marketing? Experiential Marketing attempts to create a connection between potential customers and the brand using meaningful experiences. Experiential Marketing aims to entice customers to make a purchase by appealing to both rational and emotional behavior. Successful Experiential Marketing is highly impactful. Consumers need to come away with a positive feeling about the brand that they will remember and talk about. The idea behind Experiential Marketing is not to be an advertisement for the brand, but rather, a fun and memorable experience that consumers will connect with the brand that will encourage them to make a purchase.
Modern technology has made this type of marketing easier than ever. In order to host a successful event, consumers must be aware of it. The Internet, and, specifically, social networking sites are playing a large role here. Companies can get the word out about an event quickly and easily by using social networking. A buzz is created about the experience before it even takes place.
This past year, several large companies creatively reached out to consumers and promoted their brands using outdoor movies. In Bogota, Colombia, commuting is usually a pretty miserable event; with drivers spending about four hours per day in traffic. A popular soft drink company decided to reach out to these commuters and transform the highway into an outdoor cinema- complete with a large movie screen, popcorn to snack on, and, of course, soda pop to drink.
This move by the cola company truly embodies what Experiential Marketing is about. Commuters stuck in miserable traffic who were then offered a cool drink, and entertainment (short movies), will almost definitely experience a positive emotional response they will connect with the company’s soda brand.
A big box electronic store made a comparable move in 2011 on Black Friday. Approximately 120 of the electronic superstores across the country came to the rescue for Black Friday shoppers waiting in long lines, and offered a big screen outdoor movie event featuring the new Blockbuster film Harry Potter and the Deathly Hollows Part 2.
For the 25th Anniversary of the classic Ferris Bueller’s Day Off, a daily deal coupon internet company decided to host a screening of the film at Wrigley Field. The location was perfect since most of the movie was filmed in Chicago. Three huge screens were set up, and the daily deal site, fittingly offered a deal on the tickets. $10 was all it took to get a bleacher seat for the event.
To promote the release of a new Italian car, the brand hosted a drive-in movie event in Times Square featuring free entertainment, food and drinks. The best part was that attendees could sign up and view the film from inside one of the automobiles. After the initial Times Square outdoor cinema event, it was taken on the road to other cities like Chicago and Los Angeles. Since the Italian car were re-makes, the films chosen were also re-makes; selections included Ever After and Romeo and Juliet.
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