Millennials and Centennials have a hard time understanding that in the past, commercials could only be avoided by turning off the TV or radio because the content was live. Today, TV commercials can be fast-forwarded with DVRs, can be removed on streaming platforms such as Amazon Prime and Netflix, and there are ad blockers for apps on phones and tablets.
Traditional advertising models are losing more and more power every day. The way to consumers is direct and is aimed at emotions, to connect, to get their attention in the most personalized way possible, and this is achieved by creating memorable and innovative experiences that they really want to be part of.
It's no longer about advertising a product, it's about consumers seeing and feeling what their life would be like with it. It's about building an association between your brand and positive vibes and lasting impressions.
According to a survey by Freeman, a leading global provider of brand experiences, marketers are increasingly seeing results from immersive and sensory brand experiences, ranging from trade shows, sponsorships, virtual and hybrid events and exhibitions, to permanent installations, virtual or augmented reality experiences, gamification and pop-ups.
Nine out of ten marketers globally agree that brand experiences deliver stronger face-to-face interactions and more compelling brand engagements, and have the power to evolve brands, build relationships and inspire action.
Well, these are 5 compelling reasons to adopt experiential marketing:
- Consumers have changed
Today, people have different shopping preferences. Consumers love personalized experiences. According to Harris Group data, 72% of Millennials say they prefer to spend money on experiences rather than things; they feel more fulfilled with lived experiences. Being involved in the brand story leads them to feel connected rather than just shoppers. This makes a significant difference in how they view a brand.
That said, customers expect unique and personalized experiences. 80% of customers say they are more likely to buy from brands that offer personalized experiences and interactive content, according to a study by Epsilon. And, most importantly, some satisfied and engaged consumers end up becoming brand ambassadors and loyalty boosters for businesses.
- Brands must be well liked
As we move from the passive buyer to a more horizontal relationship between brand and consumer, the latter demands social awareness, authenticity and real commitment from the brand. Consumers want brands that they trust and that are aligned with their values, with which they can build lasting relationships. They need to believe that it is not just a company selling them a product or service, and they are clear that experiences are what drive lasting well-being, not consumption.
Brand experiences are designed for brands to spend time with their target audience. The bond created at a fun and memorable event makes it more likely that consumers will get the message. According to Harris Group, nearly 65% of consumers confirm that live events and product demonstrations helped them understand a product better than any other method. Well-done experiential activations move consumers from passive spectators to active participants.
- Creative blends are the key
There is no doubt that, as far as experiences are concerned, technological advances offer more and more tools to unleash creativity. However, the interesting thing about experiential marketing is that it allows the creation of all kinds of mixtures between digital and conventional, face-to-face dynamics. The possibilities are endless to develop immersive experiences that combine digital, analog and hybrid environments.
The key is not to forget that today's audience is not a passive participant and seeks to assume active roles in the creation and appropriation of increasingly personalized content during a brand experience. The goal is to maintain a permanent and constant conversation with customers.
- Experience in exchange for data
In marketing, knowledge really is power. Collecting and analyzing consumer data today is a top priority to know where consumers are and how to reach them most effectively. Just as product developers need data to know what things appeal most to potential consumers.
And in experiential marketing this dynamic is part of the exchange. Consumers are offered the opportunity to learn about products and brands by enjoying an experience, while they are willing to exchange personal information such as the price of admission to an event or experience they want to attend. The Big data is providing tools to deliver real-time data and actionable insights, leading to brands being more agile to make changes to messaging, create more value and increase consumer engagement in the moment.
- Connection = lasting impact
Experiential marketing has the wonderful ability to transform and elevate the connections that brands build with their consumers, and this is cemented as experiences are personalized and lasting connections are established. Experiential marketing is a foolproof method for building brand awareness and affinity, boosting brand recognition, attracting new customers and making current ones want more. It is also the ideal catalyst for word-of-mouth: people love to share their positive experiences.
The chances of customers remembering your brand and returning to purchase increase when you deliver an unforgettable experience worth repeating. A key example was the #WeighThis campaign by Lean Cuisine, the frozen food brand. They invited women to share, in an original way, the true weight of their achievements, something important about themselves or what they were doing that had nothing to do with their weight.
The responses were displayed in a gallery at Grand Central Terminal in New York. Some of them were: «I take care of 200 homeless children every day», «I'm back in college at 55», etc. The key point is that the campaign at no time featured any Lean Cuisine product, but it was truly memorable, garnering over 204 million leads.
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