December 18, 2023
In the digital marketing space, experiential marketing is a powerful technique that is becoming increasingly important due to the significance of brand recognition with consumers. Exemplifying this, 85% of attendees say they are more likely to make purchases after attending branded events. For many e-commerce brands and retailers, experiential marketing is proving to be a great way to compliment the overall marketing strategy.
Brands that utilize this technique have an opportunity to create a fully immersive experience that will resonate with consumers, instead of just using digital marketing methods to reach out to customers based upon data-driven information. By bringing both of these techniques together, brands can create a comprehensive marketing strategy that encourages brand awareness, boosts social engagement, strengthens the relationship with customers, and eventually leads to sales.
During live events, participants can be encouraged to interact with the brand by sharing their experience through social media. If this strategy is successful, the overall reach of an event can grow, which in turn increases the brand’s digital presence. Any user-generated content (UGC) can later be interacted with and adapted for digital channels such as Instagram, Twitter, and TikTok to keep audiences engaged. You can enhance this user generated content with the help of premium brushes for better design.
In order to quantify organic reach and word-of-mouth, earned media value is one of the key indicators taken into account by retailers. In a recent study by Gradient, it was found to be prioritized by as many as 64% of companies in the retail industry to boost social visibility. What’s more, UGC from experiential marketing is frequently considered to be a more valuable type of social engagement, as consumers perceive it to be more authentic.
Due to the potential of experiential marketing to build brand awareness, it is proving extremely important to implement for retail brands of all sizes. Many brands are now looking to provide first-hand, lasting experiences which would have been extremely difficult through digital advertising alone.
At present, 34% of retail marketers are using experiential marketing with a specific goal to drive brand awareness. The continued investment in experiential marketing isn’t just intended to create one-time events, but rather to integrate personal experiences with ongoing digital campaigns. By doing so, companies can increase their brand awareness while continuing to drive online conversations.
The value that can be gained by integrating experiential marketing with existing digital strategies is becoming widely recognized by retailers. Using a cross-channel approach can create a seamless consumer journey, to engage both online and offline audiences. Experiential events can be combined with branded content, email marketing, digital signage, and paid social campaigns as part of a comprehensive digital strategy that creates a seamless narrative.
To demonstrate this, a brand can decide to launch a new product through an in-store event that is also live-streamed on social media. They can later follow up by utilizing influencer partnerships, behind-the-scenes content, and targeted ads to maximize the impact of the event and stay relevant in the minds of consumers. When creating an integrated brand experience, it is crucial to appropriately communicate with the consumer through a host of touchpoints.
Among the major advantages of experiential marketing is the fact that deep and emotional connections with consumers can be built. Unlike digital ads, which sometimes may appear impersonal, experiential marketing allows the chance for meaningful interactions to take place. This can be a ground for long-term customer relationships to develop, in which repeat business and brand loyalty improve.
Long-term, the role of CRM when supporting experiential marketing is extremely important. Industry research finds that 45% of retail marketers look at CRM as a key objective within their experiential campaigns, to ensure consistent engagement after the event. Experiences offer the perfect opportunity to collect key data such as preferences, contact information, and purchase intent, that can later be used to nurture customers digitally.
Even though the use of digital marketing is essential to drive online purchases, experiential marketing can help stimulate direct sales through instant customer engagement. Retail marketers report that 41% of their experiential campaigns are intended to drive sales, which can be particularly effective if integrated alongside digital offers or promotions.
Fashion brands, for example, may choose to create an exclusive pop-up store for a new collection and provide attendees at the event with exclusive discount codes that will be redeemable online. This can not only bring in immediate sales, but also online traffic that can lead to additional sales later on.
All in all, experiential marketing can be a great complement to digital strategies for retail and ecommerce brands. It can play a significant role in reaching marketing objectives by enriching customer relationships, increasing brand awareness, and building up social engagement that can lead to boosts in sales. Companies looking to distinguish themselves from the competition may find it to be a key difference maker for their future success.
