Develop and Keep Customers with Experiential Marketing
The way companies do business is changing. Customers are exposed to more choices than ever before. Businesses are facing more and more competition as the Internet makes it easier than ever for newcomers to an industry to put their products before consumers. So how can a company position its products effectively to grab and hold the attention of as many customers as possible? If recent trends are any indication, the most effective way, by far, is through experiential marketing.
In contrast to traditional marketing techniques, which were focused on closing an individual sale, experiential or event marketing aims to create an overwhelming sensory experience of a brand that will establish a lasting relationship with the consumer. Such an experience might include not only evocative images of the product, but engaging music, hands-on demonstrations, and an appeal to the emotions of the target market. An example might be a computer company that hosts an event complete with a popular musical act, product demos, and the constant “experience” of their products’ hip, stylish features. This all works together to make the company stand out from dozens of others, and makes it easy for a customer to choose them.
As a subset of relationship marketing, the aim of event marketing companies is to develop long-lasting emotional connections in the minds of their clients. This means the customer is more likely to return to that company for future product offerings, meaning less money has to be spent on re-acquiring old customers. In effect, the company becomes a customer’s “go-to” source for the product in question. Event marketing is a more efficient way to retain customers. In addition, by making that emotional connection with customers, a company employing effective experiential marketing techniques makes it easier for those customers to share their enthusiasm for the product with friends. The customer wants to share the experience and friends want to experience it for themselves.
Little has had a greater impact on marketing in general than the rise of the Internet. Before the late 1990s, a company was confined to presenting their products through print or, at best, video advertisements. Opportunities to truly engage with the customer were few and far between. In contrast, the Internet allows immersive, interactive experience of a product, and can offer these benefits relatively inexpensively. And while the technology may not currently exist to convey smells or tastes, there’s no doubt that the degree of immersion that a potential customer can experience online will only continue to grow.
There is a downside, however. Because event or experiential marketing is a more complex option, requiring so many different elements to be woven together cohesively, it is more important than ever to find a marketing company that specializes in creating compelling events for its clients and their customers. Experiential marketing companies with a reputation for excellence will connect a company with the market in lasting ways. Marketing companies which use the latest techniques and technologies are better situated to bring that market right to their client’s front door.
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