Experiential marketing is a growing trend. A 2005 study conducted by HPI Research Group revealed that marketers spent more than $150 billion dollars on experiential marketing, with 68% of surveyed marketing executives spending more on experiential marketing that year versus a year ago.
Experiential marketing provides a strong contrast to the traditional thought of marketing. Whereas traditional marketing viewed consumers as rational decision-makers focused on the functional features and benefits of products, experiential marketing views consumers as emotional beings. This component can bring the current interaction to a whole new level and should be considered as an essential component in communications plans.
Here are some key thoughts on experiential marketing:
1. Experiential marketing complements, not replaces current efforts
An experiential marketing strategy can extend and enrich the existing interaction between brand and consumer. Therefore, integration across all marketing efforts is critical in order to bring the brand connection to a whole new level.
2. Experiential marketing forces rethinking of involvement and ownership issues
Experience marketing encompasses all communications or interaction points a consumer has with the brand. Hence, it should also involve sales, R&D, customer service and retail to make this communication as seamless as possible. The entire company plays a critical “role” in marketing. A truly memorable and lasting interaction between consumer and brand provides a strong emotional connection. This creates a relationship and ultimately drives the emotional response of a purchase. A classic example will be the newly opened Apple concept store in New York, where every function played a critical part.
The retail experience was redefined by Steve Jobs as he created this space for consumers to immerse themselves into the Apple brand experience. This vision had to be shared with all departments involved to make it come to life, from architects, retail marketing, sales, product people, etc.
3. Experiential marketing borne out of consumer understanding resonates best
The Apple Store is not just eye candy on Fifth Avenue;
the entire experience is built to make itself a part of the consumers’ lifestyle.
- It opens 24 hours a day, 365 days a year, making itself relevant to the New Yorkers’ late night lifestyles.
- Hands-on & non-intrusive experience is important to seal that deal for technological products. The store is built and developed to encourage browsing & hands-on activity with more than 100 Macs and nearly 200 iPods for customers to try before they buy
- Creating a community space for the Apple Tribe where like-minded Apple lovers can hang out and share their tips, tricks, and other tech know-how. This encourages walk-ins and potential impulse buys. Should they need assistance, there’s the 45-foot Genius Bar, iPod Bar and The Studio where customers can get face-to-face support, free advice and work on creative projects at any hour of the day or night.
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Similarly, Westin Hotels launched an experiential advertising campaign in the US to bring alive the “Westin Renewal Experience.” Captivating relaxing imagery were placed in subways (when commuters are the most stressed and yearning for an escape). Besides in-train wraps, commuters were treated to visually stunning & relaxing films projected on the tunnel walls out of the window. This completes the relaxing experience.
A brand experience can enhance the customer relationship with the brand. In view of dynamic media landscape developments, experiential marketing will soon be part of an essential communications strategy to connect with the consumers.
For more details, please see: http://www.westinadvertising.com/
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