Event Marketing or Experiential Marketing lets consumers experience the brand targeting our 5 senses, hearing, sight, smell, taste, and touch.
What is Experiential Marketing? Experiential marketing is a form of marketing where the consumer gets to experience the brand. Experiential marketing targets our 5 senses including hearing, sight, smell, taste, and touch. Focusing on our senses creates a unique bond between the consumer and the brand, ideally leaving a lasting, positive impression. The goal of these companies being: increase brand awareness and secondly, drive sales.
“Experiential Marketing is about crafting experiences for real people — not just so they can have a great experience, but so you can capture them having that experience, and share it through advertising or social.” – Ayni Raimondi from Airb&b
Marketing Goals and Strategies, Budgets, Return on Investment and Measurement, Technology and Social Media
Social media is now being implemented in every facet of experiential marketing. It has become apparent that it is here to stay, and won’t be going anywhere, anytime soon. Check out this article: Why Experiential Marketing and Social Media Go Hand-in-Hand by Matt Banner from Heyo! This is the exact reason why so many events and experiential marketing companies are adding this into their arsenal of goals and strategies. According to EventTrack 2015, “6.1% is the amount experiential marketing budgets are increasing by last year. Also, experiential marketing companies are spending more and more money each year as budgets are open up for more funding.” Return on Investment (ROI) and campaign measurements easier to track as technology continues to improve, new platforms and apps make it increasingly easier to accomplish as the event marketing industry grows.
The Experience World
Experiential Marketing wants the consumer to eat, breathe, sleep, and love the brand. Experiential marketing is becoming a household term with experiential learning gaining in popularity, and the increase of this form of marketing influencing every major corporation and being seen in every city around the world along with every major publication.
“Experiential learning is a process through which students develop knowledge, skills, and values from direct experiences outside a traditional academic setting. Experiential learning encompasses a variety of activities including internships, service learning, undergraduate research, study abroad, and other creative and professional work experiences. Well-planned, supervised and assessed experiential learning programs can stimulate academic inquiry by promoting interdisciplinary learning, civic engagement, career development, cultural awareness, leadership, and other professional and intellectual skills.” – University of Colorado Denver
Although not new, social media, technology, competitiveness among the agencies, and marketers make for the perfect formula for successful activations or campaigns. Some of the ways to measure the results are from social media, social sharing, social impressions, hashtags, new apps every day, and all the amazing analytics that are accessible today. There is just something about being able to feel the advertisement, the experience is where it is at. Some recent companies are Airbnb, Red Bull, Diet Coke, Sony, Carlsberg, and Heineken. We all remember the Budlight commercial where the curly hair guy puts the huge token into the wall. The gentleman and his friends open the huge, mysterious door and start playing a live Pac-man with huge ghosts chasing him. It is rare to drive around any city and not see signs of this type of marketing like clever ads, crazy billboards, and guerrilla marketing style advertisements. Advertising and marketing have been around for a while now so it is nothing new to us, but the competitiveness of experiential marketing has created a race to the next, best idea that will catch on, maybe go viral, attract the news, or just simply push their companies envelope. This is what experiential and event marketing is all about.
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