Several years ago, Facebook decided that they wanted to find a way to help the marketers who were using their platform for advertising. Facebook has an immense amount of data surrounding how people use both Facebook and Instagram. But they realized that most marketers didn’t understand how to use this information.
So they created an event called the Live IQ Event in New York. The event was designed to show marketers how they can take advantage of the data Facebook provides. But the way that they went about this was truly unique.
They had a number of different live demonstrations set up throughout the event. There was an “Instagram Cafe” which showcased millennials taking photos of latte art, snapping selfies, and posting pictures on Instagram. And they even built a home to demonstrate how new parents use Facebook to beat isolation and connect with others.
The result? Over 1500 people attended the event and 93 percent reported that the event gave them valuable insights. Facebook provided incredible value to its audience and boosted its brand perception in the process.
The Value of an Experiential Marketing Event
When it comes to your company’s marketing budget, you might have differing opinions as to where to invest your money. Successful marketing tactics are always changing, and what worked yesterday may not work tomorrow.
Many companies invest heavily in social media marketing since that is where so many of their customers spend their time. Social media marketing is important but it is much harder to stand out online. And most customers experience information overload when they are online.
One of the most effective ways to build a relationship with your customers is by giving them an experience they will remember. An effective experiential marketing strategy involves engaging with your customers through live events.
After all, Facebook could have just put on an all-day conference complete with lots of slideshows and occasional restrooms breaks. Or they could have hosted a series of webinars.
But they did much more than this. They created an experiential marketing event that their guests will remember. And so should you.
6 Reasons You Need to Invest in Experiential Marketing
So why should your brand invest in an experiential marketing event? In short, because it’s incredibly effective. A well-executed event gives the attendees an experience that couldn’t have been achieved online.
Here are six reasons your brand needs to invest in experiential marketing.
1. It gives your customers a sensory experience
Physical experiences create memories. An experiential marketing event engages all five senses. Traditional forms of advertising simply can’t mimic this.
Live events also give your customers a chance to interact with your products. 65 percent of people surveyed agreed that live events help them understand a product or service better. Your customers can experience your products in a tangible way without the expectation of making a purchase.
2. Live events will set your brand apart from the competition
Businesses can build their credibility by offering quality products or services and by giving exceptional customer service. But the most successful brands have a unique quality about them that helps them stand out.
Fortunately, this does not mean you need to be the next Steve Jobs. It does mean you need to find a way to set your brand apart from the competition.
Live events are a great platform for businesses to do just that. An event is an opportunity to offer your customers a truly unique experience that they will remember. And those experiences will create a lasting bond between attendees and your company.
3. You will see higher conversion rates
Traditionally, businesses have shied away from events because of the substantial investment required. This is a mistake, as 65% of brands believe that their live events are directly linked to an increase in sales.
Live events are a great way for companies to increase conversion rates and generate new leads. When customers are free to try out your products they are more willing to make a purchase. You will also benefit from the principle of reciprocity, wherein consumers are more inclined to buy when they feel they’ve been given something.
4. You can interact with your customers in new ways
The only interaction most customers will have with their favorite brands is through an email or the company’s Facebook page. Of course, there is value in both of these things. But if you are trying to build a relationship with someone, you can’t beat face-to-face interactions.
When you put on a live event you are giving your customer a chance to get to know your brand on a different, more human level. An experiential marketing event is a great way to reach millennials who are always looking for new and authentic experiences.
5. You can incorporate technology
Just because you are putting on a live event doesn’t mean you need to exclude technology and social media. Quite the opposite. Ideally, both tools should be incorporated into your experiential marketing event.
Social media is a great way to promote your event and generate a buzz. It is also a great way to measure engagement after your event is over. And mobile technology can make planning and executing your event a smoother process. It also allows you to gather consumer information and continue conversations with attendees long after the event is over.
6. Live events build brand loyalty
Customers are inundated with products to choose from and companies they could purchase from. So how can you create true brand loyalty amongst your customers?
Obviously, there is no one way to create brand loyalty. But experiential marketing events are a great place to start. Events give your customers a chance to experience your products and learn more about your brand’s values. As they meet your brand ambassadors and get to know your brand, you will gain their trust. And this is what creates long-term brand loyalty.
An effective experiential marketing strategy involves vision and a deep understanding of your target audience. And the best part is, your experiential marketing campaign should integrate seamlessly into your social media marketing efforts.
There are endless options for your experiential marketing event. Take the time to consider your goals, and think about creative ways your customers can interact with your business.
And don’t be afraid to step outside of the box. In experiential, calculated risks can pay off in a big way. With the right strategy and execution, you can put on an incredible live event that your customer won’t forget.
EPS has been staffing and executing experiential marketing events for more than 18 years. We have poured some of our secrets and tips into the Ultimate Experiential Marketing Staffing Guide and Checklist. Download it below for free.