Four things to remember before planning an experiential marketing campaign
Sep 06, 2019 09:26
Brands, new and old, are leaning towards experiential marketing. Gone are the days when the lion's share of every marketing budget went towards print and digital marketing campaigns. It is not about the reallocation of marketing budget only. It is the significant shift of the masses in favor of experiences instead of the proverbial promotional stunts.
The new era of marketing puts the consumer in the center-stage. Experiential marketing is all about listening to the customer and implementing suggested changes. It directly invigorates the relationship between the consumer and the brand. As of a Freeman Study in 2018, over 50% of all market leaders believe that experiential marketing or event-based marketing can establish a strong relationship between the brand and the target consumer.
Unlike print advertising or even its digital counterpart, event-based marketing in NY can be significantly more expensive. It demands substantial investments and intense research for successfully initiating a two-way relationship.
It is easy to see that experiential marketing is not easy. Especially in a city like New York with its highly diverse consumer-base, you need the best experiential marketing agency in NY by your side for a successful campaign. It demands a comprehensive understanding of the consumer and the right resource and planning to reach them.
Before you head over to your nearest marketing agency in NY, here are the four aspects of experiential marketing you need to remember –
i.Always opt for advanced market research tech
Not all experiential marketing leverage the same tech available for market research. Look for marketing agencies in NY that use high-end pattern tracking algorithms or geo-tracking tools for keeping an eye on target consumers.
Today’s research teams are leveraging everything between personal wearables to personalized ads on mobile devices to understand their consumers.
For example, Disney is probably the best-known brand that is experimenting with personal responses to their services. Their facial expression tracking software, in combination with AI, is following the viewer's expressions during the screening of movies.
The brand is further utilizing the data to device a machine learning algorithm that can predict the emotions and expressions for each frame and course of their movies.
The new tech allows the brands to capture sentiments more accurately than ever. In combination with social media response monitoring the research, teams can provide brands with comprehensive plans to carry out experiential marketing successfully.
ii.Adding flexibility to research
With the days of traditional marketing ebbing fast, there is no option for the market leaders but to opt for experiential marketing. However, most of them soon realize that unlike conventional marketing, there is no time-tested formula for leading experiential marketing campaigns to success.
The research tech we have mentioned above are highly agile, and they can change depending on which district or region of New York you are trying to reach. You can choose to focus on social media only or a combination of social media and POS data.
Since every seller has a different target audience, and there is no dearth of an audience in NY, the brand marketers need to keep an open mind towards the wide variety of tools available for research. Once your experiential marketing team manages to find your target customers and understand them, the rest is endgame.
iii.Explore the data
Once you have access to consumer data from wearables, social media, or POS, you have the treasure chest of marketing at your disposal. You need the correct algorithms and tools to harness the pertinent information.
Data integration has become a vital ingredient of any marketing campaign in and around NY. The highly diverse set of consumers generate gargantuan volumes of data that demand proper sorting and usage.Sometimes, the data for new demands, quality improvement, and cost savings seem disparate. Only an experienced marketing agency has the knowledge and tools to harness the right data and direct the marketing campaign towards success.
iv.Asking the pertinent questions
What drives a shopper? Is it the experience, the quality, or the price? Studies show that for New York shoppers, the experience leads the way in the list of influencers. As long as consumers get a premium experience, they don't mind paying a couple of bucks extra.
The new no-cruelty, all-vegan brands, and indie brands with sustainable images are bringing a long-lasting impression on the plate. That is driving most customers towards buying from these brands, although their market prices are considerably higher than retail brands.Learning to ask the right questions about your consumers and to your consumers can enable you to reach deeper into the target market and find new paying customers. It demands a combination of qualitative and quantitative techniques for understanding the consumers' necessities.
Today, scores of new tech and tools are there that can help your brand reach the pinnacle of fame via experiential marketing. The best of the best agencies focus on consumer behavior and response aside from budget and resources while designing an experiential campaign. That is the first reason you need to begin working with an experiential agency for your upcoming brand campaign.
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