It’s getting harder and harder to dismiss the experiential segment as a niche within the world of marketing. According to a 2017 Freeman study, more than one in three CMOs expect to funnel up to 50 percent of their budgets into brand experiences.
Those leaders have finally discovered what consumers could have told them ages ago: People don’t want to be bombarded by ads. What they want are authentic, one-to-one interactions with the companies seeking their business. In other words, they want brand experiences.
That’s what experiential (sometimes called “event” or “participation”) marketing comes in. The term refers to a marketing strategy that invites and encourages consumers to participate in the evolution of a brand.
But consumers aren’t looking for something snooze-worthy — at least not in the typical sense of the word. Mattress company Casper, for example, gave this year’s SXSW attendees a rest they won’t soon forget. In partnership with One:Night, Casper offered $99 hotel rooms outfitted with a Casper mattress — and milk and cookies.
“Moms” were even on call to read bedtime stories to restless sleepers. Unsurprisingly, the rooms sold out instantly. The reality is that not all brands can afford to rent out an entire hotel, but that doesn’t mean you should default to a low-cost activation.
Where should you spend?
While some marketers have managed to cut costs without curtailing the actual experience, they’ve likely found that spending a little more where it matters can mean the difference between a forgettable event, and one that leads to real ROI.
Where should you allocate your money for maximum impact? If you value results, don’t skimp on any of these three:
1. People and training
When consumers interact with a brand, they’re interfacing with a real person. No matter how great your product might look or taste, customers won’t care about it if the brand ambassador was rude. All they’ll care about is that they had a terrible experience.
Although sales and experiential marketing aren’t one and the same, brand ambassadors and salespeople have similar roles. And in sales, 68 percent of consumers surveyed by Salesforce said that interacting with a salesperson who understands their preferences is absolutely critical or very important, according to Salesforce. So, even if brand ambassadors can’t honor someone’s preference — say that the rason is because they didn’t have any unsweetened tea on hand — they can still create a happy customer by listening to that person’s needs and…
