Do you know why everyone loves a repeat customer? Because it costs your business less to keep a current customer than it does to find a replacement. In fact, 70 percent of companies reported spending less to retain a customer than to create one.
Despite this fact, only 30 percent of companies indicated that they were “very committed” to relationship-focused marketing. It’s not that businesses don’t want loyal customers; they just don’t know the best way to create them.
Experiential marketing gives customers a closer look at your product and brand and can funnel enormous benefits back to your company. According to one survey, 96 percent of customers said these events made them more likely to purchase the promoted products. Furthermore, brands that use experiential marketing techniques saw dramatic increases in ROI last year versus the year before.