CMDC Media Digest, 2015-2016

What is Experiential Marketing Experiential is a marketing strategy employed to immerse consumers in a brand experience within a physical space It is designed to form a connection between the brand and its consumers through a memorable execution As such it is essential that the consumer experience aligns with the core essence of the brand and reinforces its image in an authentic manner There are many different forms of experiential marketing ranging from outdoor exhibits and sampling to augmented reality and interactive displays The range in options provides brands with the opportunity to develop campaigns that are holistic across both offline and online media With such a powerful means of connecting and deeply engaging consumers 79 of brands say they are planning to execute more experiential programs versus one year ago with budgets expected to increase an average of 61 in 2015 according to Event Marketing Institute and Mosaics Event Track 2015 report EXPERIENTIAL MARKETING GOALS The EventTrack report states that the two goals for experiential marketing are an increase creation of brand awareness 81 and an increase in sales 79 In fact two thirds 65 of brands directly correlate experiential marketing activity to sales Enhancing product knowledge and influencing deeper customer involvement take third and fourth place both of which are presenting significance increases in importance versus a year ago MEASURING THE IMPACT OF EXPERIENTIAL MARKETING The vast majority of brands currently measure their experiential marketing programs The top three criteria used for measurement are total attendance 85 social media activity such as Facebook likes 61 and sales leads 58 When asked what ROI experiential marketing generates almost one half of brands expect to realize returns ranging from 3 1 to 5 1 in 2015 Virtually all consumers 98 were more inclined to purchase a product as a result of attending the event This proves that experiential marketing impacts consumer purchasing and generates sales leads In fact two thirds of consumers claim to purchase the product at the event 87 of which made a repeat purchase of this same product at a later date There is also a significant link between experiential marketing and brand perception Three quarters of consumers have a more positive perception of brands following an event or marketing experience Overall experiential drives product trial and knowledge repeat purchases and increased brand perception TRENDS IN EXPERIENTIAL MARKETING The ubiquitous nature of digital mobile and social media is enabling brands to capture data analytics to drive shopper insights and foster content creation Experiential marketing allows brands to see how consumers are interacting with their brand which can then lead to actionable insights It can also drive compelling content by capturing brand engagements and interactions with consumers Newer technology such as wearbles biometrics 3D printing and potentially even eye tracking are all poised to change the very nature of experiential marketing 114 Media Channels CANADIAN MEDIA DIRECTORS COUNCIL MORE THAN MEDIA EXPERIENTIAL MARKETING Lisa Feeney Director Research and Insights MediaCom Canada