Traditional marketing scholars teach the 4 Ps: product, price, place, and promotion. It's not about experience marketing. If you combine all of these, you'll reach your unique selling points.
And yet, "the rise of the "experience economy" is currently one of the most important global trends in marketing," writes Zoe Lazarus in Campaign. "Now, more than ever, consumers desire unique, spontaneous and immersive entertainment wherever they are. They want multi-sensory experiences, beyond sight and sound. However, they don't want to be restricted..."
"The premise of experiential marketing is to create a closer bond between the consumer and the brand by immersing them in a fun and memorable experience. - David Moth
If a brand stirs positive emotions in people then they are more likely to associate these emotions with that brand. This encourages brand loyalty and the stronger possibility of sales further down the line.
To this end experiential marketing can be more effective than any kind of display ad, a promoted Tweet or a Facebook ad. However, it is also possibly harder to measure as conversions may not happen until much further on down the line.
However, this all ties into one of the most valuable metrics of all: customer lifetime value [CLV]. The experience of the brilliantly realised experiential marketing campaign will encourage the customer to keep coming back for more, over a long period of time.
Tribe's managing director Chris Russell wrote in Marketing Week that according to his research 48% of people say that they are more likely to buy a new product if they can try it first. Therefore product samples are a must in any experiential campaign.
Social media and fear of missing out [FOMO] have a lot to do with this demand: when you see how excited and engaged people are during an experience, you want to be part of it too. Call it the Facebook Effect; the humble brag driving more demand for unique experiences.
One brand that truly understands the power of FOMO is Secret Cinema. Built around the idea that a trip to the movies shouldn't just be watching a film. Fabien Riggall's great idea ha become an international success story.
Attending a screening at Secret Cinema is something else: you're given a character to inhabit. The venue is dressed according to the period. Actors mingle with cinema-goers, even recreating iconic scenes in front of you. They've recreated 1950s Hill Valley for Back to the Future; culture clashes and sand dunes for Lawrence of Arabia; dystopian Los Angeles for Blade Runner. They've even built and run an entire jail for The Shawshank Redemption.
Social media is the godsend for experience marketing. Writing for HubSpot, Julie Hong says: "English music producer Simon Cowell once told Rolling Stone Magazine, "You have this amazing thing now called fan power. The whole world is...
The very nature of an expierience hits at the emotional core of the consumer. It's something they want to share - before, during, and after the event. Your story, told well, will engage that emotion and inspire the consumer to contribute to your marketing, too...
And yet, "the rise of the "experience economy" is currently one of the most important global trends in marketing," writes Zoe Lazarus in Campaign. "Now, more than ever, consumers desire unique, spontaneous and immersive entertainment wherever they are. They want multi-sensory experiences, beyond sight and sound. However, they don't want to be restricted..."
"The premise of experiential marketing is to create a closer bond between the consumer and the brand by immersing them in a fun and memorable experience. - David Moth
If a brand stirs positive emotions in people then they are more likely to associate these emotions with that brand. This encourages brand loyalty and the stronger possibility of sales further down the line.
To this end experiential marketing can be more effective than any kind of display ad, a promoted Tweet or a Facebook ad. However, it is also possibly harder to measure as conversions may not happen until much further on down the line.
However, this all ties into one of the most valuable metrics of all: customer lifetime value [CLV]. The experience of the brilliantly realised experiential marketing campaign will encourage the customer to keep coming back for more, over a long period of time.
Tribe's managing director Chris Russell wrote in Marketing Week that according to his research 48% of people say that they are more likely to buy a new product if they can try it first. Therefore product samples are a must in any experiential campaign.
Experiences Transcend Generational Boundaries
Those all-important millennials want personal experiences. Almost eight in ten millennials in a survey said experiences helped to shape their identity and make them feel more connected. But millennials aren't alone; the demand for more experiences is increasing across generations.Social media and fear of missing out [FOMO] have a lot to do with this demand: when you see how excited and engaged people are during an experience, you want to be part of it too. Call it the Facebook Effect; the humble brag driving more demand for unique experiences.
One brand that truly understands the power of FOMO is Secret Cinema. Built around the idea that a trip to the movies shouldn't just be watching a film. Fabien Riggall's great idea ha become an international success story.
Secret Cinema
Attending a screening at Secret Cinema is something else: you're given a character to inhabit. The venue is dressed according to the period. Actors mingle with cinema-goers, even recreating iconic scenes in front of you. They've recreated 1950s Hill Valley for Back to the Future; culture clashes and sand dunes for Lawrence of Arabia; dystopian Los Angeles for Blade Runner. They've even built and run an entire jail for The Shawshank Redemption.
Hashtag
Social media is the godsend for experience marketing. Writing for HubSpot, Julie Hong says: "English music producer Simon Cowell once told Rolling Stone Magazine, "You have this amazing thing now called fan power. The whole world is...
The Story You Tell
The very nature of an expierience hits at the emotional core of the consumer. It's something they want to share - before, during, and after the event. Your story, told well, will engage that emotion and inspire the consumer to contribute to your marketing, too...
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