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Experiential Marketing and Its Impact on Consumers
Experiential marketing is now a favoured marketing tool based mainly on the fact that it enables marketers to place the brand in the hand of the consumer thereby allowing trial by way of sampling and brand education.
The concept of experiential marketing is based on individual, face to face interaction between brands and consumers. It is a most effective way of creating a direct relationship between the brand and the consumer.
Although the practice is a fairly new one, the concept of experiential marketing has been around for a very long time through the intuitive instruments that companies have used to make their brands more accessible and attract consumers. What we are witnessing now is a new stage of this type of marketing, one of maximum transparency in business communication in which the concept of experiential marketing is a must. (Is this true, do we have anything to base these statements on??)
The traditional ways of acquiring brand information is no longer enough to keep consumers satisfied, and for good reason. The Internet has made it possible for consumers all over the world to become more educated before committing to spending their money. The fact that one can use the Internet to find testimonials and reviews of products or services is just one example. More and more consumers want to make informed choices and there is little wonder why the need for direct experience has seen such a tremendous growth with the advent of the Internet (is this a fact, do we have research figures to hand to base this on??)The tendency now for the wide public is to choose the brands that show willingness to invest in a personal relationship with consumers. Brands need to be readily accessible and make it possible for consumers to become emotionally attached to them. This is what experiential marketing comes down to, facilitating a memorable experience or a direct interaction between a brand or product and the consumer.
In these tough times, consumers are reluctant to commit to spending if they are not aware of brand USP’s and benefits. The decision to purchase is now, more than ever, based on experience of the brand.
The major advantage of experiential marketing is that it is the only type of marketing that combines the use of all five senses. As opposed to the classic message that delivers the information to a public considerably wider than the targeted one, experiential marketing drills down to specific target markets thereby avoiding media wastage.
Experiential marketing has the ability to create memorable experiences as far as the emotional impact on consumers is concerned and there is no doubt that senses and emotions translate directly into increased sales numbers and brand awareness.
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