Experiential marketing is rapidly becoming a staple on the marketing plans of brands looking for ways to build valuable customer relationships. However, its benefits are still being compared against more traditional forms of OOH advertising which often misses much of the added value of Experiential Marketing.
It is no surprise since traditional OOH media accounts for c. 95% of OOH spend and with a relatively fixed inventory it lends itself nicely to standardised research, insights and planning tools. However, the bespoke nature of Experiential Marketing makes it hard to determine the true value of experiential marketing beyond the standard measurements alone and hence often remains an undervalued component.
The sceptic will look at the cost of an experiential marketing campaign and instantly compare it to an OOH poster campaign comfortable in the knowledge that there is impact and frequency data behind every site – naturally this creates confidence and reassures brands when signing off vast sums. Experiential Marketing can be measured on this basis but it significantly undervalues the investment. Where Experiential Marketing’s added value lies is in the level of engagement and how a consumer feels and (most importantly) acts following exposure to an Experiential campaign.
Experiential Marketing allows a brand to engage on a more personal level helping to develop a meaningful relationship with the consumer which in turn opens them up to providing a brand with detailed and extremely valuable information. A non-comprehensive list of added value which experiential marketing generates:
- Instant consumer feedback
- Generates word of mouth
- Provides engagement
- Enables a brand to ‘personalise’ their message – making it human
- Experience – versus broadcast – enabling a 2-way engagement
- Digital content – record activity so it will live beyond the campaign period – highlighting this effect, more and more ATL campaign content is now created from Experiential Activations.
- Social media amplification
- Tactical targeting through destination, proximity to POP, event, target audience
Much of the added benefits of an experiential marketing campaign can also be measured with the right planning and expertise.
So when evaluating Experiential Marketing consider the hidden value when comparing to traditional OOH. The balance between quantity and quality of engagement is definitely worth considering in your overall marketing strategy – don’t miss a trick!
Jono & Tim