How Experiential Marketing Works: 7 Enlightening Tips
What makes a good story? Is it the happy ending? Maybe it’s the valuable lessons, or the hilarious, unexpected plot twists. But what makes a story just that — a shareable, captivating narrative — is the experience it describes. It’s the who, what, where, when, and how. It’s the tale of what happened.
As marketers, we love good stories. We seek to tell them through the messages and content we put out there. But while we’re great at telling those stories, what we don’t do nearly enough of is creating them. And that’s where experiential marketing comes in.
It’s not that experiential marketing is anything new. There are entire summits and programs dedicated to it, and the majority of marketers that use it say it yields significant results. And while we may have seen examples of its execution, many of us are still left asking — how can I do that?
We sought to find out. We looked at some of our favorite examples of experiential marketing, and looked at some of the things they have in common. Here’s what we found, and the tips that you can take into account as you plan your own experiential marketing initiatives.
What Is Experiential Marketing?
According to a CMO magazine article on the topic, experiential marketing “is a mutually beneficial interaction between customer and brand in an authentically branded engagement.”
It’s authentic in the sense that it goes beyond sending messages to your audience, digitally or otherwise, and requires creating a live opportunity to interact with your brand, instead. As for its mutually beneficial nature, the consumer benefits by experiencing your brand in a tangible way — and you benefit when that content is shared. Consider that 49% of attendees at branded events create videos of it , a significant percentage of which is shared on social media. People talk about remarkable experiences, and the brands that create them.
It might sound a bit like event marketing, which makes sense — experiential campaigns do tend to be event-centric. But even when they are, the emphasis isn’t so much on the event format, but is rather on the type of interaction that people can have with a specific brand.
But what does that look like, and how can you pull it off — especially with a limited budget? Here are some of the best practices we’ve found.
7 Experiential Marketing Tips
1) Take advantage of VR.
Marketing tools like virtual reality (VR) and 360° video are steadily on the rise. More than half of consumers are more likely to buy from a brand that offers VR experiences — and when a video comes in a 360° format, viewers are more than 2X likely to watch it in full.
Source:: HubSpot Blog