The market impression of your brand will depend upon the way it interacts with the audience. Your points of interaction and level of interactivity will depend on the nature of your products, the availability of touch points and the distribution of the audience across the market. At present, clothing, food, lifestyle, tourism and sports industries leverage location-based marketing for staying in the forefront of the market.
Mobile marketing tours require significant marketing. Perfect experiential marketing does not happen in one day. Irrespective of what most marketing experts will have you believe, the upfront investments in experiential marketing are similar to that of traditional marketing. However, the returns on the stakes are much higher than conventional media. That is one of the reasons most CEOs and marketing managers brave the initial costs. It is not a tip or trick to game the system. It is a smart investment that can help you penetrate the market in spite of the presence of more prominent names.
Why is experiential marketing more than buying and selling?
Experiential marketing has several aspects including location, audience, USP of your new products and the prices of the same. As the name suggests, you should be able to offer your target customers a slice of the unique experience your company has promised. Irrespective of the product type and industry, experiential marketing leverages the impact of environmental memory. Introducing a new product in an old market offers an added side of comfort with the main dish of surprise. A known environment can put your audience at ease and urge them to spend a little more than they would on a new brand in a new setup.
Why does the location of your product launch matter?
For example – if you are selling a new brand of dog food, where would you promote it? Would you launch it inside a busy mall with high-flying clothing and lifestyle brands or would you set up a pop-up store opposite a dog park? The location of promotional events will decide the flow of potential customers on-site and the immediate sales. The launch of a brand or its products in a relevant place triggers specific emotions. As a brand manager or a marketing CEO, you need to be aware of the particular feelings your brand triggers among the target audience. You can make this possible by making smart location choices, introducing familiarity in product packaging and a trifle of predictability in marketing antics.
Experiential marketing is new, and it is fast replacing digital marketing tactics and traditional marketing techniques among the new brands. It is a smart instrument that levels the ground of competition for all market players irrespective of their age and audience base. While a few of the aspects of experiential marketing is the same as that of the conventional styles of marketing including the psychology of colors and fonts, the other elements like increasing tangibility and establishment of multi-way interactions enable the new companies to find solid ground in amidst veteran brands.
Leave a Reply