Rather than seeing a product on a TV commercial or reading about it in a newspaper, more businesses are using a form of advertising that promotes consumer experience. This is referred to as experiential marketing. It is a hands-on approach to demonstrating a product or service, allowing the individual to try it without interacting with a salesperson.
Brand Association in Experiential Marketing
The main concept behind experiential marketing is to get consumers to associate a product or service with a manufacturer by increasing brand image and awareness. The information about such goods is conveyed to potential customers by sight and sound, enabling them to make more informed purchasing decisions. When done correctly, this form of advertising is sure to establish brand loyalty.
The term “experiential marketing” was coined by Bernd H. Schmitt in 1999, and puts the focus on consumers who make decisions based more on pleasurable experiences and emotions, rather than by strictly rational decisions, as associated with “traditional marketing.” Instead of just telling the customer about a product or service, experiential marketing allows the customer to test it out for themselves. Advertising, of course is most effective when the marketer puts him- or herself in the shoes of the customer. That means analyzing what a potential buyer is thinking and feeling while getting their response.
For example, cell phone retailers as Cricket have all models of phones available in their stores, allowing customers to try them out. Trade shows contain booths set up by various companies whom demonstrate their products.
Here are some ways to engage potential buyers in multiple media platforms:
- Visual ads, such as large screen TVs advertising a particular automobile, as done in car dealerships.
- Print ads, such as postcards or letters with temporary codes or passwords enabling recipients to try out out online services.
- Audio delivered through headset units in CD shops, allowing consumers to listen to sample audio clips from an album.
Experiential Marketing Predictions
According to Big Fat Marketing website's predictions, experiential marketing may replace traditional marketing in the following ways:
- Online videos: Videos available online are becoming increasingly attractive for web surfers. There is no easier way to view a product or service, as the consumer can do on sites like Zappos and YouTube. A video with a detailed demonstration reveals more than a regular ad or commercial can. Hence, website videos ensure business owners of higher conversion rates. For example, shoe manufactures have animated presentations on how their shoes are built and how they react as a person takes steps.
- Omnipresence of information: Buying habits are changing based on the ubiquity of information on sites as Yahoo, Google, YouTube, etc. Potential customers find the information they are seeking, based on the information being designed for the marketing segment the customer fits within, and the keywords the customer uses to search for information. This makes marketing results more measurable.
- Social media: The increasing popularity of online services, such as Twitter, Facebook, LinkedIn, etc., makes it easier than ever for enterprises to expose their goods to the market. The Internet is continuously integrating direct marketing with social media/interactive marketing communications.
- Communication devices: Cell phones, smart phones, and tablets are expediting the vitality of mobile marketing. Also, the iPhone, Google’s Android operating system, the RIM Blackberry and iPad competitors will make mobile marketing a superb advertising vehicle for consumers and businesses. This is because information will become more marketable and traceable.
- Direct mail integrating with interactive media: Both forms of advertising work more powerfully together than separately. Various sources of printed material such as direct mail and magazine ads will contain QR codes. A QR code is a two dimensional code (similar to a bar code) that can be inputted into a cell phone giving the user more information about the business that published the code.
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