Events and experiential marketing go hand-in-hand. When dealing with such events like expositions, conferences, and even some meetings there has been an increased number of marketer taking the route of creating an experience for their consumers. The marketing events previously mentioned have other attractions or necessities to them, such as networking, learning, or even speaking. The greatest part about experiential marketing is that it ends up turning into its own event within itself.
Experiential marketing is taking off in every industry possible. This is due to the trend of consumers blocking traditional, interruptive advertisements. More companies are opting out of creating paper, radio, or even television advertisements since the consumers are simply not using those methods to see advertisements anymore. This is where experiential marketing comes in. The article, “Brands Are Doing More Experiential Marketing. Here’s How They’re Measuring Whether It’s Working,” states:
In a perfect world, here’s how an experiential marketing effort would play out for consumers: You’d encounter a brand experience, find it so awesome that you’d post about it on your social channels (where more people would hear about it), give the brand your contact information (so that they could send you emails and offers and put you in touch with a local retailer), and become more likely to purchase something from said brand.
Experiential marketing is taking the marketing aspect of every industry and flipping it around. Instead of being the sterile, traditional marketing that we have become so accustom to, experiential marketing thrives on making meaningful connections with their consumers, which tends to create more sales and loyalty among their consumer group. The lived-in experience of this type of marketing does not only connect the company with consumers, but it also connects consumers with other consumers with a basis of shared experience. If you have ever had a
connection that was based on a shared experience, you know that these connections are very strong. These shared experiences are shared through many modes, especially social networks. Social networking platforms allow consumers to express their satisfaction and loyalty to the company, as well as hear from other consumers about their shared experiences. This is ultimately what drives the experiential marketing success in today’s age. It is not necessarily the actually experience that drives success, but the loyalty and strong connections made.
Experiential marketing has proved to be successful, but how do we ultimately measure experiential success?
Well, there is no one answer to this question. Depending on the size and capabilities of the company, they will measure their success differently. For larger companies and corporations, they can track consumer data that shows the consumer sales rates. Even for smaller companies, technology is becoming more accessible for them, enabling access to this data as well. Along with this access to data, marketers are using social media interactions, such as hashtags and social media events. This method still only covers some of the demographics that are reached with experiential marketing. Where experiential marketing really measures its success is through the actual, face-to-face interactions with consumers. With this in person interaction, marketers can assess their success directly from the consumer by having an open dialogue. This also gives the consumers a better connection with the company since they are felt like they are part of the conversation, and their opinions matter to the company’s success. The direct interaction with consumers is what drives experiential marketing to thrive in our world where traditional advertisement methods just simply do not work anymore.