In today’s ever-changing market, we are focused on the numbers game. Companies choose metric goals, and work towards making their numbers meet or beat their goals and expectations.
According to Event Track 2015 Executive Summary, companies’ top two goals are to raise brand awareness and drive sales.
What’s the best way to achieve these top two goals?
Studies prove that experiential marketing campaigns deliver results. You know what they say – the numbers don’t lie.
Let’s break down those numbers:
98% of consumers are more likely to purchase a product or service after participating in an experiential marketing event. You’ve read that right – 98%! That’s up an additional 2% from 2014. A great experiential marketing activation excites consumers and allows them to take home a memory of your product or service, and in turn, purchase that product or service to add to their lifestyle.
Up by 8% since 2012, experiential marketing has both created and increased brand awareness by 81%. Brand awareness is key, as it is the distinct qualities associated with your brand that separate you from competitors. Experiential marketing uses a wide variety of creative and innovative tools that help raise awareness and create new connections between consumers and the brand. Mobile tours, pop up shops, and branded premiums and vehicles are just a few examples of how experiential marketing draws awareness.
In addition to strengthening brand awareness, experiential marketing increased sales by 79%. There is nothing comparable to a customer walking away with a memorable experience. A great experiential marketing campaign will create brand fanatics, which will in turn increase sales.
In order to purchase a product, customers first must understand what sets the product or service apart from the competition. Experiential marketing campaigns enhanced product knowledge and understanding by 62% in 2015. Our very own president Steve Randazzo says “great marketing is a marathon, not a sprint.” Meaningful relationships should be formed to create the bridge between the customer and the product. If customers connect well, they will be more likely to become loyal consumers in the future.
In 2015, experiential marketing increased website traffic and social media likes and engagements by 40%. Social media is the link between today’s tech savvy individuals and your business, and provides a number of innovative tools that allow you to track your number of likes, engagements, geographic reach, etc. By increasing your reach via experiential marketing, you are positioning your business for greater success in the future.
Experiential marketing has a ton of other benefits besides “just” boosting sales and awareness. It helps gather leads, conduct research, identify and develop brand ambassadors, and reduces consumers’ price sensitivity.
If you have ever considered experiential marketing, now is the time. Help your consumers have the experience of a lifetime.