Experiential marketing has become a bit of a buzzword. As the average consumer (particularly millennials) tunes out to tradition marketing and becomes harder and harder to reach, businesses are look for new ways of communication.
Experiential marketing has the potential to do that and companies are catching on. To that extent, it’s now at the forefront of modern marketing strategy.
But while it’s true that experiential marketing has the power to unlock the potential in many an industry, however it’s not all champagne and roses.
Getting experiential marketing to work is tricky and before we even get into strategy, there are a few myths that need to be put to bed.
Myth 1: You can expect an instant return on your investment
Nope, that’s not what experiential marketing is all about. Much like SEO and content marketing, experiential marketing is a long-term game.
Experiential marketing is about creating brand awareness through memorable experiences, not cold, hard sales at the experience in question.
In reality, a short and unsustainable spike in sales isn’t what you’re after. Instead, businesses should strive for increased customer loyalty and love for a brand.
Myth 2: Experiential marketing is a passing fad
As we’ve already alluded to, there is an issue at the moment. It’s getting difficult to establish and maintain a reasonable ROI from marketing spend due to the way consumers are adapting to modern advertising technology and strategies.
At the end of the day, when it becomes tricky to make money, brands need to look at alternative ways of cutting through the clutter and getting heard.
Myth 3: Experiential marketing costs money
Yes, some campaigns can be incredibly pricey. But equally, you can create incredibly impactful campaigns on the tightest of budgets.
Basically, so long as you’re creative, there are a number of ways to make an impression on people… many of which don’t involve spending loads of cash.
Great ideas can come at very little cost, especially if you’re planning on executing an experiential marketing campaign locally.
Myth 4: Only established brands are good at experiential marketing
Actually, that couldn’t be further from the truth.
Many small businesses and start-ups use experiential marketing to create a stir in their worlds. In fact, for many of them, it’s the go-to strategy.
Hotcow is a non-traditional creative agency that specialises in experiential marketing that goes viral. Our campaigns generate buzz through crowd participation, PR and content sharing. Contact us on 0207 5030442 or email us on firstname.lastname@example.org.