Why CMOs need to embrace experiential marketing?
Experiential marketing gives consumers the chance to learn about products and brands while also enjoying the experience.
Back in the days of just TV network, AM radio, and newspapers, advertising was not as competitive as it has become today.
In today's data driven world, the medium has changed, but the need to get attention, drive a purchase, and shift people's impression of a brand or company is still alive.
Creating iconic marketing campaigns today might mean going viral, but the basic elements of good marketing haven't changed as much.
It turns out the best way to reach consumers in an emotional and engaging way is to create experiences that they actually want to be a part of.
Reasons why marketers need to use experiential marketing:
Knowing the target group well
Marketers get stuck trying to please their existing target audience. When this happens, it might be useful to research the market again and see if there is another audience that might benefit from your product. And if there is, then refocusing your marketing strategy on this new audience might help the marketer.
It’s important to see your target audience deeply, from different angles. Do extensive market research, talk to different kinds of people, ask questions. And then try to look at the situation from your buyer’s perspective. Thinking outside of the box is exactly what the marketer needs here.
What sets your product apart
Why do customers buy your product? Does it solve a problem? Does it help save time or money? Or, does it have unique features or qualities? For example, if your product is available in many more colours than the competition can offer, you might mention colour choices in your ad. Experiential marketing has the ability to transform and elevate the connections that brands build with their consumers, and that’s becoming increasingly important as consumers demand more personalization.
Capturing the consumer’s attention, keeping in focus the products USP is the key to a successful campaign.
To establish loyal and engaged consumers
The goal of experiential marketing is to create lasting impressions on consumers that they want to share with others and that, ultimately, lead to brand loyalty. You’re not advertising a product — you’re letting consumers see and feel what their lives would be like with it. You’re creating an association between your brand and those positive vibes. Experiential marketing gives consumers the chance to learn about products and brands while also enjoying the experience. And those consumers are willing to exchange personal info as the admission price to an event or experience they want to attend.
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