For any business owner and a marketer there are many forms of marketing to choose from. Among this league lays experiential marketing that strays out from the customary form of marketing. This is because it promotes and endorses a two way communication process by physical means with the brand itself. This basic difference can be a major one especially in terms of establishing campaign where the involvement with a consumer is on a more personal level.
Experiential Marketing in Action –
To promote the new Lexus IS Hybrid the luxury car manufacturer created a campaign called “Trace Your Road” which features a real life video game where 10 lucky Facebook fans got ride in the jump seat with Formula 1 race car driver, Jarno Trulli. Each rider was given an iPad in which they had to draw/follow the racecourse so the iPad would project the racetrack on the floor.
Watch Video Here - Trace Your Road
The incentive that experiential marketing gives to businesses is that it is able to build a more subjective and interactive relationship with brand. This all then further leads to enhanced turnover even when the investment had been a small one.
What this form of marketing offers to agencies is something that is completely different from the ordinary forms of advertising agencies. All the traditional forms of campaign strategies, for instance, the television ad campaigns have been losing their efficacy for there is whole pool of products that are being attended to. The consumer side is continuously being thrown over in this mess who often fail to make the right choice. With experiential marketing the good thing is that it attracts the potential consumer to connect without having to invest or engage with the brand.
So how exactly are businesses benefiting from this marketing strategy?
- Able to create awareness about products and brands
- Building consumer relationships and sustaining loyalties
- Able to form optimistic feedback that spreads through word of mouth
- Creating brand publicity amongst the right target audience
- Eliminating all adverse PR through optimistic support
On the other side, experiential marketing has its own set of limitations. For instance, it is not very often used for large scale campaigning. There are budgetary constraints whereas all international campaigns are very rarely catered. This is because a good majority of large scale campaigns are normally a combination of the customary marketing techniques in order to gain as much as it could with the help of experiential technique.
Events for marketing campaign are a success in places where there are usually a good number of people located or happen to pass by every day. Therefore, to guarantee the success of an ad campaign the precise location is of utmost significance. In addition to this, it is vital to ensure that the staffs are well equipped, friendly and professional in their means.
Times have certainly changed for today the consumers want to be part of the marketing strategy of any company. This means that gone are the days when a single message from a television screen could do the job to hold the interest of a consumer. Going with experiential marketing means this form of marketing can actually come down to the needs and expectation of the customers.
On the last note, an effective experiential strategy would not only come up with operative and practical ideas but should also be able to manage that campaign to the last bit to achieve the aims. All this should need to be managed within the restraints of the budget as well.