Deliver Immersive And Connected Experiences That Meet Business Objectives: Saurabh Uboweja
The future of experiential marketing lies in designing and delivering immersive and connected experiences that aren’t particularly physical, digital, virtual or augmented but a seamless blend of all of these writes Saurabh Uboweja, Founder and Chief Executive Officer of Brands of Desire.
There is a distinction between belief and trust. When you believe in something, let’s say a brand, there is still an element of doubt left behind it. It’s not absolute. When you trust a brand, it’s complete and you are willing to risk your money, time and mind space for it.
Hear a story and you start believing. Experience it for yourself and you start trusting.
Building differentiated and trusted brands is increasingly more challenging than ever. With the explosion of content and mediums, brands are constantly fighting for the ever elusive consumer mind space and a share of their wallet.Experiential marketing gives brands an opportunity to initiate or deepen their relationship with consumers by providing highly personalized brand experiences.It provides brands an opportunity to bring alive aspects of a brand that are otherwise left hidden and unexperienced.
There are four essential steps in building a brand. Brands need to discover, define, package and share their value proposition with consumers in an authentic manner.Out of these steps, it’s the last one which is highly experimental in nature, making outcomes very difficult to predict. It is also in this stage of building a brand where experiential marketing can benefit the mostby focusing on building deeper and more meaningful connections with consumers.
As a marketer, you have access to several tools and methods to accomplish your marketingobjectives. It is important for you to select the right weapon for the battle you are looking to win. It is equally important to align marketing objectives with business goals. Experiential marketing is particularly beneficial for the following three use cases.
It is highly impactful when you are looking to demonstrate the features and benefits of a product that requiresa sophisticated and deeper consideration in order to make abig-ticket purchase decision.It builds imagination and anticipation of what a consumer can expect after making the purchase. An example of this would be giving a highly immersive ambient experience to a consumer looking to buy the latest music system for her living room. Another example of this would be the sample apartment through which you are able to imagine how your new home and living in it would feel like if you made a purchase in the latest upcoming apartmenttowers.
Experiential marketing is also useful for initiating trials, especially when you are looking to launch a new product or service. This is beneficial when you are new in the market or your value proposition is highly distinctive and hasn’t yet been experienced by a large number of consumers. In this case, you primary goal as a marketer is to overcome the resistance of trying something new by offering a trial experience.This method is particularly useful for launching innovative food products that have no defined precedence of consumer experience. Another example would be the new state-of-the-art wellness and fitness service concept that is looking to initiate as many trials as possible, encouraging dialogue around their new concept.
The third area where experiential marketing can be highly effective is when you are looking to build a deeper, morehuman connect with your consumers, giving a face or personality to your brand. This is especially significant at a time when more and more brands are digital first and have no physical presence or touchpoint for consumers to experience.This is going to become one of the most important applications of experiential marketing going forward. Consider a digital banking service or a digital-only bank that doesn’t really require you to visit a physical branch to carry out a transaction. It would be highly beneficial for such a brand to look for opportunities to meet and connect with their consumers and build more human relationshipsif they have to think beyond simple payment services and drive the sales of more complex financial products.
In order to amplify the outcome and benefits of experiential marketing for your brand, it is imperative to first understand whether your marketing goals align with benefits of experiential marketing naturally.The future of experiential marketing lies in designing and delivering immersive and connected experiences that aren’t particularly physical, digital, virtual or augmented but a seamless blend of all of these.
(Brands of Desire is management consulting firm focused on building high growth impact (HGI) brand.)
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