Good experiences are memorable. That’s why experiential marketing works as a marketing strategy.
Business has arguably never been tougher. In every niche, it seems that brands are fighting for their seat at the table.
And with continued pressure on marketing budgets, the emphasis is on finding ways to get results at little or no spend. Now, that kind of agenda is perfect for experiential marketing, but businesses still need to focus on effectiveness.
There is no one-size-fits-all approach to marketing as a whole, much less for experiential marketing.
So if there isn’t one recognized way of executing an experiential marketing campaign, measuring the effectiveness of a plan becomes incredibly important.
Here are a number of ways that you can measure your experiential marketing efforts…
Did you achieve product sales?
It’s quite an obvious point maybe (and won’t always be relevant), but if your campaign resulted in a boost in sales, then that’s a great result.
Ultimately, marketing success shouldn’t always be focused on profits, but it should be analysed in the context of new users.
It’s a game of numbers. The more people who hear, see and use what you’re selling, the likelier they are to tell others.
Were you able to put your product in front of a wide audience?
Experiential marketing campaigns should aim to capture the attentions of many different people.
Sometimes, we can have too much tunnel vision. We can build up a picture of our target audience in our minds, but the reality could quite different.
Or at least, the reality might be that a demographic of people exists where you have untapped potential.
What sort of social media impressions did you generate?
It’s a sign of the times, perhaps, but if something surprising and memorable happens, our first thought is to share the experience on social media.
So, what kind of noise did your campaign make on Facebook, Twitter, Instagram and the like?
Consider Red Bull’s Stratos mission for example, where Felix Baumgartner made his famous supersonic parachute jump from space.
This was a truly memorable even that pretty much ticked every box.
A solitary YouTube video of the jump has topped 39million views. It even made the news, putting both the jump and Red Bull’s brand in front of millions of TV viewers.
And Red Bull’s sales figures?
Well, they increased 7.6% to $1.6billion in the six months after the jump.