As we seek a new normal in an ever-changing world, experience-based marketing methods shine a bright light for businesses looking to create relationships with their ideal population. The modern world cherishes shared experiences and stories more than ever before, as evidenced by the seemingly constant stream of media focusing on how we interact, even when we can’t connect in person. Experiential marketing is the most forward-thinking way to bridge the gap between business and client, and by working with an experiential marketing agency in NYC, your company may benefit from the expertise of modern tactics in a variety of ways.
While experiential marketing may sound like event marketing, there are ways to market experience without mentioning a specific event, and with the majority of in-person events cancelled or postponed this year, how we advertise must change.
According to an expert study, more CMOs than ever are investing a large percentage of their money, ranging from 21 to 50 per cent, to experiential marketing campaigns over the next several years, and the reason is simple: it works.
Companies that use this method successfully go beyond providing consumers with appealing offers and samples. True magic occurs when brands offer individual customers or groups an immersive experience. To elicit favourable emotions and develop brand loyalty, marketers must move beyond PR stunts, display commercials, and boost social media ads. Successful ads inspire customers to return again and again, influencing their customer lifetime value.
The Advantages of Experiential Marketing
Experiential marketing provides consumers with the feel-good feelings required to create true brand loyalty – the recipe for producing brand warriors who spread the word about their favourite brands and goods.
The most rewarding aspect of this marketing strategy is the way it promotes word-of-mouth advertising; studies conducted by technology giants such as Google shows that customers are affected more by word-of-mouth when making buying decisions than by print media, television, movies, and brand websites. In fact, for 50 to 80 per cent of any given product category, immersive brand experience is the most powerful form of word-of-mouth driving activity. As a result, one of the most effective ways to obtain a competitive advantage is to direct marketing efforts toward developing strong connections with clients through experiential marketing. This is where experiential marketing agency NYC comes into play to pave success stories for your brand.
Storytelling At its best
Experiential marketing has the most potential to tell your brand’s story as well as include potential buyers in the narrative you build.
Exempli Gratia: Guinness Beer attempted and succeeded in telling their narrative through an aspirational marketing strategy. The Guinness Class ad showcased the opulent, high-class life, the remarkable life, and the life that Guinness lovers strive to live, touting a lifestyle that will not “settle for ordinary.”
Consumers put themselves in that position with a glass of Guinness in hand by equating the experiences of living the average life to living the high life. This is the story that the brand is telling, the story of progressing to a higher level of existence through their goods. The Takeaway: Tell your tale correctly. Your ideal client may not be aware of who they are to you until they connect with your narrative and mission.
An Active Comprehension
Shared experiences have always been the most basic method for humans to connect, and marketing is no exception. Experiential marketing allows viewers to interact on a more intimate level with a brand and a product, resulting in a more active understanding of how it affects their lives.
Vans’ House of Vans ad from 2019 is an excellent example of building an understanding of a brand that changes with the user. Vans used this marketing tactic to put up pop-up shops in big locations like New York City and London for skaters of all skill levels to meet, try on skate shoes, and connect over the skate life. The brand’s mission is to bring its customers together and offer them a better understanding of the significance of their “Off The Wall” lifestyle.
We discovered that CMOs throughout the world are moving their marketing focus to experience-based campaigns, and their budgets are following suit.
Why, you might ask, aren’t more marketing professionals investing in this?
The answer to that query is precisely why your firm should seize the opportunity to use it: many businesses and consumers are unaware of how valuable and profitable experiential marketing can be. Digital marketing is no more the wild west it once was, and as the market gets more digital, our methods must evolve to meet customers’ desires for easily accessible content. This is an area where an experiential marketing agency can get you ahead of the competition.
Investing in a tried-and-true marketing plan that connects the experience you provide with the commodities of your brand is a low-cost way to spread the word about your mission and product.
The most significant barrier to customer experience marketing is a lack of knowledge about customers that allows for relevant offers and customized experiences. Getting a complete, individual view of consumers is critical, which means your customer data cannot be siloed or lacking data from social media or other sources. In this regard, an experiential marketing agency in NYC can help you get an advantage.
Companies that can listen to and treat their customers well win because they provide the experiences that consumers want; they also succeed as a result of their great customer experience.