Why New-Age Marketers and Entrepreneurs Should Emphasize on Investing in Experiential Marketing
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Marketing is a complex activity and needs cautious scheduling, a point of view and well set defined goals. It’s a multi-level way to optimize and attract more eyeballs which in turn results in increased sales. Over the years, marketing has evolved from traditional data-based “one for all” campaigns to experiential marketing, which focuses on creating personalized experiences for potential customers. While both forms of marketing have their own perks, their proper mix is the ideal way to move forward in today’s market scenario, wherein, they supplement each other.
There is a significant number of products and services that need a certain perception which influences the buying behaviour of their customers. Experiential marketing gives an individual association that enables consumers to recall the product or service. It is more than a simple billboard or ads and touches the emotional quotient of consumers.
What is it all About?
This is a marketing strategy that involves the consumer and creates a real-life experience that stays with them for much longer than generic visual or audio ads. Additionally, experiential marketing has an exceptional power to create engagements with its customers which can generate much higher interest in the brand and can demonstrate numerous dimensions.
Traditional marketing expects a customer to engage itself with the brand, and then like or dislike it while experiential marketing takes the first step of reaching out to its potential customer, engage and interact with them and help in creating the choice of like/dislike much faster.
While traditional marketing helps in creating brand awareness, Experiential marketing, on the other hand, helps create brand recall and followership. Experiential marketing has many forms to it. From an event to activation, the technique can have multiple forms. The experience generated out of activity can provide a much deeper insight into a brand and its attributes along with helping in enhancing the brand & customer interaction and connect. It is a comprehensive interaction which can micro-target all senses and influence the buying behaviour of its customer. It develops an engagement with the customer right from its very first interaction with the brand and provides a break-free from the clutter.
Why is it Better?
Traditional marketing targets anyone & everyone, leading to a lot of money being spent on non-potential customers because of it’s a reach to the masses and inability to segregate a potential buyer from a non-potential one. However, experiential activities can easily define its audience and its demographics that can yield much better results as it allows a micro-level engagement with customers directly. They get a live experience of product/service which helps in better understanding by showcasing the attributes in a much wider spectrum.
New-age marketers and Entrepreneurs can gain an opportunity to understand the buying behaviour trends of their potential customers through this marketing technique and thus, take corrective measures if required. It is much more economical because it can target its audience without wasting time and money. Hence, the budgets are spent in maximizing exposure in front of the relevant target group.