In an increasingly social world devoted to sharing memories and content, Marketing is also adapting by creating a new brand promotion channel that shifts attention from the product to unique moments connected to it: Experiential Marketing.
Experiential Marketing: What is it?
As the name suggests, Experiential Marketing is a technique that allows you to directly engage your target, inviting them to live positive experiences and get to know a brand firsthand. What changes is the position and point of view of the customer (acquired or future) as they are no longer confined to the role of spectator of a campaign as in traditional marketing, but become its main protagonist.
Experiential Marketing and Millennials
A recent study highlighted how 72% of Millennials prefer to spend their savings on “experiences” rather than purchasing material goods, in the wake of the Instagram explosion and the rush to share the emotion of something extraordinary experienced first-hand. These data must make not only marketing agencies reflect on the need to adapt to the needs of a rapidly evolving market, but above all they must open the eyes of producers of goods to a radical change in thinking: no longer giving the customer what he wants (or, at least, not only), but giving the customer the memory he desires.
Importance and Effects of Experiential Marketing
More and more brands are using experiential techniques to get closer to and engage with their target audience, and a search ventures a prediction according to which in the next 3-5 years a figure between 20 and 50% of the Marketing Managers' budget will be invested in Experiential Marketing activities.
The main reason for these estimates is that the effect on the user base that is involved in this type of campaign is not limited to those who actually participate in the event, but spreads like wildfire thanks to social sharing, word of mouth and the buzz created around the brand and its products, creating a customer community that can be modeled and addressed through key words and hashtags.
Experiential Marketing: Are We Ready?
UniversityBox has always wanted to put the student at the center of its communication plans and its partners' campaigns, using tools such as the Tour and BTL activities to create that engagement that brings a positive association between experience and brand.
(Not for nothing, we also have one School Bus!)
And you, are you ready to jump on board a new marketing concept in step with the new generations?
Let Matteo know your thoughts on LinkedIn