According to a recent study by the Event Marketing Institute, 58% of consumers make a purchase of products they are able to see, touch, and interact with at events. This is an incredible number. Think about it, when was the last time a marketing campaign was able to provide a 58% purchase rate? Not only are consumers more comfortable making the purchase after an event, they also are likely to stay loyal to your brand. As marketers, isn’t that what we are all striving for in our marketing spend? Conversion of triers to buyers?
The study also stated, 86% of purchasers after events say they became regular brand customers. With so many tools available today, experiential marketing is easier to track and the results are very good. Experiential Marketing campaigns are by far the easiest to measure direct impact on sales. Here are some of the ways smart 3-Dimensional marketers are using experiential marketing to impact sales.
1. Create Immediate Sales
With experiences located at the point of purchase, you can incentivize and convert triers to immediate sales. Be creative and build a moment where consumers can engage with your brand via product demos, games that show your brand values, and coupons so consumers are compelled to purchase your product right on the spot.
2. Launch a New Product
It’s tough to sell something that no one has heard anything about. Allowing consumers to experience a new brand can help you to get sales from participants but also it opens the flood gates for word of mouth and viral sharing which extends the reach of your story and adds credibility. Allowing your audience the opportunity to engage with your brand, ask questions, see its quality and value allows for a deeper connection than any other medium available.
3. Stand out in a Competitive Field
One of the best ways to use experiential marketing is letting your products speak for themselves. For example, as a challenger brand it’s always tough to get ahead or even to get noticed due to smaller budgets, using experiential marketing not only gets conversations started about your brand but it can also make your products easier to get purchase conversion. The Pepsi Challenge was an excellent example of a brand making huge strides by pointing out that it’s product was in fact better (tasting) than the competition. If you can demonstrate superior quality over the competition, a direct comparison experience could be the strategic tactic that propels your brand sales.
Every brand is looking to keep their current consumers and attract new consumers. By adding a properly designed experiential marketing campaign to your marketing plans can be the perfect fit to achieving faster sales.