Experiential Marketing Part I
Sept 29, 2008
By Erik Hauser and Max Lenderman
Experiential Marketing Forum
Never before has the marketing world been moving so quickly, and it's the customers who are sitting in the driver's seat of the pace car. Each new tech gadget that customers purchase speeds the pace and makes the world go a little faster. The proliferation of these technologies and emerging media has changed the way customers talk, the way they listen, the way they act, and what they expect from brands and marketers. With the rise of this new breed of enlightened and empowered customer, who demands immediate value, respect, recognition and relevant messages, the rules of engagement have changed. It's now increasingly clear that the best way to deliver what the new customer wants requires branded experiences that are personally relevant, memorable, sensory, emotional and meaningful.
More and more businesses large and small are understanding the new media landscape and finding ways to connect through the creation of brand experiences. Smart brands are turning to the acquisition-through-experience model. Experiential methodology is driving strategies and tactics for brands in an increasingly hyper-saturated and hyper-fragmented marketplace.
According to the Experiential Marketing Forum/Adweek 2007 research on experiential marketing (downloadable at http://www.experientialforum.com), some marketers believe experiential marketing efforts are simply tactical in nature, and they are increasingly being integrated into the overall marketing mix. To others, the consumer experience is the centerpiece of an overall brand strategy where all aspects of the experience are managed, and experiential marketing is more an overarching strategy throughout all campaigns and communication.
The business successes achieved by focusing on experience are exactly why experiential marketing is becoming increasingly important to any company's marketing mix. It may be a modest percentage now, but it will inexorably grow. Companies will soon be forced to adopt experiential marketing strategies in order to connect to people. Instead of relying solely on advertising, brands will seek out events where their customers and potential customers can physically interact with them. Marketing campaigns will need to deliver clear benefits to people, allowing causal marketing to take a more prominent role in a company's marketing plans. Individual engagement and empowerment has become instrumental in driving sales. The Internet is already making this a reality. For instance, 80% of Hyundai customers currently go to the automaker's Web site to choose their vehicle, even before they visit the showroom.
Whatever the methodology, it's increasingly clear that customers desperately want goods and services, communications and marketing campaigns that dazzle their senses, touch their hearts, and stimulate their minds-delivering a positive experience they will remember. Companies that can deliver such experiences when and where their customers want them are the ones that will succeed in today's global marketplace. Businesses will live or die not by the attributes they promise but by the brand experiences and value they offer customers at every touch point.
Download the 2008 Experiential Marketing section here (PDF)
For more Experiential Marketing coverage:
Part I
Part II
Download the 2007 Experiential Marketing section here (PDF)
