Consumers are changing the way they listen, research, talk and buy products due to marketing overload, explosion of product choices and from lack of trust. Brands need to work harder than ever to provide the right information and product experiences to enhance the buying decision.
With the growing fragmentation of customer segments and declining effectiveness of traditional media, alternative communication vehicles like ‘Experiential’ are becoming increasingly important. It is about 2 way communication between brand and consumer. Experiential Marketing’s influence is greatest when consumers are able to touch, feel, smell and experience your product for the first time or when acting as a sensory reminder to reinvigorate brand and product usage.
Consumers perceive brand value , aside from monetary benefits, from ‘an experience’, ‘entertainment’ or offering ‘something for free’. This is perceived as an investment in ‘me’ (the consumer) and is an enabler for consumers to move from just awareness of product to consideration of purchase.
To date, Experiential Marketing has long been seen by many as a ‘tactical’ add-on solution to campaigns done by a wide range of agencies. This is changing as many leading marketeers are seeing the value of experiential and it’s impact on the various consideration cycles within the sales funnel. Experiential marketing works if you understand the consumer decision journey, consumer behavioural insights and the fast-moving trends associated with passive and active interaction. It works if you have the models and processes in place for measuring the impact of a campaign beyond footfall or cost per sample.
With a history and commitment for building brands and launching products, Hotcow’s goal is to reach consumers at the moments that most influence consumers decisions called the consumer decision journey. Using bespoke planning modelling and processes we are able to reach consumers at key moments when they are most open to influence and trigger the impulse to purchase or create brand consideration.
Too many agencies are claiming to do experiential without understanding the depth and rigour of planning, behavioural understanding and measurement tools and criteria. This has had an impact on the perception of Experiential Marketing as a strategic channel. Experiential Marketing as a channel works, it is the other elements within the planning and execution phase that need reviewing.
Experiential is an investment. It can have short term tactical gains but its real successes come from frequently touching and communicating with your audiences at different times during the consumer decision journey.
If you are looking for proven experience and real results for your brand, speak to Hotcow.
Read the full article “Influencing Consideration” by Sally Durcan published at Marketing Magazine.