Have you ever thought why most people prefer watching any sports games in the stadium while they have the option of watching it live on TV? This subtle experience is the power of experience, participating in a way that allows a person to be a part of the game, which creates more interest than just witnessing it via technology. Most of the brands use experiential marketing strategies, while many of them are still struggling to understand the basic concept of experiential marketing. But still, experiential marketing Toronto is holding the superior position in the market.
Why is Experiential Marketing so Effective?
Experiential marketing is all about developing a good connection and communication between a brand and its customers. It’s more than just promoting a particular brand; it is customized to provide active participation of the customers in your brand. About 74% of customers will prefer to engage with the brands having experiential marketing techniques, and they are more likely to buy their products. By providing an immersive experience, a brand will create an impression on their customers that will stay with them far longer than any advertisement would.
For brands having small businesses, experiential marketing can play a major role in increasing their customer’s loyalty, and the number will ultimately result in a direct increase in product sales. A study says that about 65% of brands prefer experiential marketing for their better sales. They introduce the customers to their brands and serve as a way to actively participate them into their sales funnel to connect with new customers. Experiential marketing in Toronto is now emerging as a hub for marketing brands. Toronto has many experiential marketing agencies and if you are in search of one make sure you get in touch with an authentic source.
Some Key Benefits of Experiential Marketing: –
- Creates Brand Awareness: – Just promoting your brand is not enough. One should provide its brand awareness throughout the audience and let the audience know your story, your values, your sacrifices, and your mission to achieve in the market. Experiential marketing provides a unique opportunity for brands to improve relations and communications with their customers, thus creating awareness for the brand. Brands must prefer to have a brand ambassador for their particular products and convey all the key points.
A study says that about 65% of the consumers prefer live events to better understand a product or the service of the brand.
- Direct Connection with Consumers: – All in one, it’s not intrusive. Experiential marketing can also reach the customers of remote areas who want to connect with the particular brand. When you as a brand engage your customers in their comfort zones and satisfytheir terms and conditions then the customers are more likely to engage, attract and respond to your brand, which ultimately increases sales and reputation.
A study says that about 91% of people believe that ads are more intrusive in today’s world, more than they were two years ago.
- Develop A Positive Brand Image: – As we all know, that first impression can be the last. So experiential marketing provides a platform for the brands to create an extraordinary first impression. The first sight, sound, and better communication that a customer finds at a brand activation play an integral part in attracting and engaging with your brand. Starting from the visuals to the interaction with the brand ambassadors and many giveaway activities that you offer for your brand will ultimately play a significant role for customers to remember your brand.
A study says that about 91% of attendees have a more positive opinion and approach towards the company and brand after their promoted event.
- Hand in Hand Approach for Consumers: – Some brands often use a tagline ‘Try before you buy’. Experiential marketing provides the same technique for the customers to use the product first before they buy that particular product. It has a great impact on popularity and sales as well. This strategy is limited to physical products, but the brands may also use this tactic by providing exclusive discounts or content and may offer the customers a free trial.
A study says that about 65% of the event attendees prefer live demonstration and free trials before buying a product. It enhances their purchasing decisions for the brand.
- Enhances Brand Loyalty: – Achieving the brand’s loyalty is the next foremost important step after spreading awareness of the brand. As in the traditional method, most of the brands, just hoping to win the market, spout off some of the common taglines by analyzing the customers’ demands that what they want to hear. But experiential marketing provides one-on-one experience with the customers, making an emotional bond with them and creating real-life moments that lead to success and brand loyalty.
A study says that about 70% of the attendees became regular customers of the brand after experiential marketing events.
- Provides authenticity: – Today’s market is flooded with authentic brands having a duplicate identity in the market. So, authenticity is the key to success in the market, but it is not that easy to achieve. Experiential marketing agencies provide two-way communication with the customers providing them with face-to-face experience, which results in more authentic output than any traditional method.
Research said that about 80% of consumers rely on that particular brand with the ‘authenticity of the content’. This factor influences the customers to be regular followers of the brand.
Experiential marketing also leads to increased word-of-mouth marketing which is considered one of the prominent ways to expand the brand and reach of the consumers. So, by just providing brands value in an interactive experience, the brand can easily achieve the target. However, many advertisings are inherent, and therefore as the competition increases, the brands need to cross the limits to ensure the sustained loyalty, commitment, and engagement of the customers towards the brand. If you haven’t used experiential marketing to improve your business, then this is the right time, do it now.