For our first post, we thought it only fitting to write about the core of what we do: experiential marketing – what it is exactly and why it’s necessary. A quick Google search will pull up multiple definitions all centered around the same answer: experiential marketing is messaging you can touch, feel or view in a physical space. It’s how consumers experience or connect with a brand in personal way.
According to a recent study, 11 out of 14 consumers reported preferring to learn about new products and services by experiencing them personally. We are moving out of the Information Age and into the Relationship Age, according to CEO Keith Ferrazzi, author of Never Eat Alone. “Emotion, empathy, and cooperation are critical to success,” wrote Ferrazzi, “at a time when technology and human interaction are intersecting in new ways. Trust and conversation are crucial in this new economy.”
According to the Event Marketing Institute’s EventTrack study, experiential marketing is adapting and thriving as it officially takes the throne as the world’s fastest-growing form of marketing. Engagement marketing is growing and we don’t see any signs of it slowing down. Budgets rose to over 6% in 2015. A recent American Lifestyles report by Mintel projects that over the next five years, total spending will grow by nearly 22%, with the so-called “non-essential categories, including vacations and dining out, expected to see the greatest gains.”
A significant 79% of the brand respondents say they will execute more event and experiential programs this year compared to last year, according to 2015 EventTrack study.
What criteria is used to measure events and experiences? The top measurement factors and criteria according to a survey of brands are total attendance, Facebook and social media activity and number of leads.
With that said, here are some examples of recent experiential news and findings worth seeing:
We love SXSW not just for the music and film scene, but also for the social buzz it creates for brands. Check out the 8 brands and 3 tech topics that dominated the scene at SXSW: www.adweek.com/
news/technology/these-8- brands-and-3-tech-topics- dominated-social-buzz-sxsw- 170245
We can dig a good experiential stunt, especially when it goes viral. Have a look at what Jetblue recently pulled off: www.eventmarketer.
com/article/inside-jetblues- reach-across-the-aisle-in- flight-viral-stunt/
10 best ideas of the week from Bizbash – from an astronaut-themed photo booth to an extreme egg hunt: www.bizbash.com/
10-best-ideas-of-the-week-the- extreme-egg-hunt-sxsws-live- stream-an-astronaut-theme- photo-booth/dallas/story/31937