What’s New in Marketing?
Marketing and promotion funnels can often seem out of date or irrelevant or even, after a while, may just stop working completely which can leave you feeling helpless. Especially when you’ve no doubt invested time, money and effort into seeking more business. Innovative methods of marketing are becoming increasingly available to replace traditional formulas but may be out of reach for most small business owners due to high costs or lack of resources.
Partly these new forms of marketing are due to technological advances, for example, marketing can now take place through VR (Virtual Reality) and AR (Augmented Reality) so long gone are the days when we thought a QR code was going to be the next form of marketing that had longevity. But also client expectations have changed. And also where to find clients in the first place.
Traditional marketing methods of printing fliers and using word of mouth may just not be enough as now you also need an online presence to showcase your brand effectively. If you’re a small business or brand on a budget but you’re also looking for new ways to market yourself, you may want to consider using experiential marketing in addition to your existing marketing methods or to update them.
What is Experiential Marketing?
Experiential marketing, sometimes also known as engagement marketing or experiential advertising, means using live interaction between consumer and brand to create a bond of trust or familiarity. This is in an attempt to create loyalty from existing clients and create new bonds with potential clients that are tempted by this new form of marketing activity.
Examples of experiential marketing include live events; such as participation marketing, fun activities and live launches; product sampling or giveaways; marketing stunts and immersive experiences. This may all sound flashy and high budget but the theory of experiential marketing is about creating an experience, a feeling or a certain mood that best suits your brand so your clients better understand you. Which can equally be done to suit all budgets. For example you could include a touch of luxury by having a launch party for your next product or service and offering a free glass of fizz for the first 10 people to book. Or including a fun or quirky gift with purchase.
Stand Out From The Crowd
Why be boring? You want to be memorable, quirky, interesting and stand out from the crowd. You want, and need, to be different from your competitors to make sales and participation marketing, where you immerse your customers, via events or product sampling for example, will set you apart from the rest. If you want to build your business, any experience that lets you promote your business using brand colours, logos and mottos in interesting and innovative ways is a sure fire way to get you noticed.
Because experiential marketing is mostly in person or ‘live’, it can also be added into any existing marketing campaign that may be more traditional e.g. paper based, or in addition to online marketing, as it fits neatly somewhere in the middle. And also puts you face to face with your customers, once again building that bond and brand loyalty that is the driving force of small business transactions.
Meaningful interactions and personalised experiences are becoming more desirable traits for brands to create for their clientele. Introducing these as a part of your marketing campaign adds value to your customer relationships and to any product or service you may be providing.
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Boost Your Sales
Experiential marketing allows clients to become part of something rather than just standing on the sidelines and witnessing it. They become part of your brand story and may also become a loyal customer or even an advocate for your brand who uses their influence to promote you. Customers want to feel important and valued, and that value will then likely convert into direct sales.
If you’re on the fence about using experiential marketing within your small business, it is also worth mentioning that it gives your existing marketing funnels a boost too. For example special events held to promote your brand can be promoted through traditional channels and also creates opportunities for social media content and getting coverage from the local press who often cover fun local events for free. Now you should have a clear idea on experiential marketing and how you can use it to your advantage to create a customer relationship and showcase your brand, you can get planning your next engagement marketing event!
