This is the essence of experience marketing, in a nutshell.
The goal of experiential marketing is to give consumers unique and notable experiences.
Marketing research demonstrates that regardless of the cost of the commodity or service, consumers are willing to pay an additional 17% of their income for a positive experience.
Understanding that today’s consumers are seeking out experiences can benefit brands and marketers.
Experiential marketing is extremely important in today’s customer-centric world for bringing in new customers and keeping existing ones loyal to your business.
Experiential marketing’s fundamental goal is to provide customers with an engaging brand experience.
Brands have a fun approach to boosting client loyalty to their goods or services through experiential marketing.
Why experiential marketing is important
Customers adore the in-person experience of touching, feeling, and engaging with everything a company has to offer in sectors like fashion, cosmetics, and home décor.
Although many companies have shifted to selling their goods and services online, many customers feel that the online shopping experience is still far from ideal.
When a customer has physically seen and used the goods, they are more likely to purchase them.
There is still a justification for the one-on-one contact customers have while connecting with the business, even though physical stores have a tendency to lower earnings.
It’s not necessary for brands to give up the benefits of online shopping or the advantages of having customers visit their physical locations. All they have to do is be imaginative.
Here, experiential marketing has a significant impact.
Experiential marketing may boost customer satisfaction and brand loyalty for eCommerce brands as well as physical brands if it is done correctly.
Brands can use consumer technology in a variety of ways to provide customers with distinctive experiences.
There are still methods to employ experiential marketing to dazzle your customers, whether you operate a brick-and-mortar store or an online one.
When it comes to providing their customers with innovative experiences, companies like IKEA are innovating ahead of the curve. With its augmented reality-powered online shopping platform, the business has consistently pushed the limits of consumer experience and service.
In order to advertise the inauguration of its 30th shop in France, IKEA installed a vertical climbing wall that was furnished with IKEA furniture as early as 2014.
Brands have a plethora of possibilities for developing a distinctive consumer experience because of the influx of ever-expanding consumer technologies.
Several tried-and-true suggestions are:
- searchable and interactive Videos
- downloadable pictures
- engagements on apps
- Real-world benefits
It is important to realise that engagement does not always entail using social media, video, or photographs; rather, it involves coming up with creative ways to connect with clients. Experiential marketing can give brands the upper hand over rival brands in this situation.
Brands have the freedom to develop and change with the times, thanks to experiential marketing. As consumer preferences and behaviour shift, firms must come up with innovative strategies to pique consumers’ interest.