Marketing today is not what it was twenty years or even a decade back. The evolution of marketing has been happening and continues to happen at such a fast pace that marketers who cannot catch-up are often left behind the trends. Marketing is a multi-faceted and multi-dimensional approach towards the goal of popularising your product or service. With a separate emphasis on research, strategy development and effective execution on large scales, it is a mammoth undertaking most of the times.
To better understand that change, we have to first learn the two different schools of marketing that are prevalent and how they both function differently.
Most people are aware of what all comprises of traditional marketing as they have experienced such methods first hand. However, it is not as popular as it used to be. For those who don’t know, this mostly utilizes offline techniques like billboards, flyers, television and radio ads for marketing. Since these are established and older form of traditional marketing methods, there was only one-way communication involved here.
While traditional marketing was more focused on making your brand name more popular, experiential marketing focuses on building a connection with the audience in the form of emotional investment. Since the approach is towards making the viewers feel and make an impact by giving them unique experiences, there is a two-way communication that provides people with a reason to believe in the product.
In short, traditional marketing lacks the personal touch that experiential marketing has with its storytelling like approach. But when we compare the effect and achievement of both, do you know which works better? It is experiential marketing that has the edge over traditional marketing.
It has been proved that in most cases, experiential marketing works better than traditional marketing and the reason behind is based on psychological reasons. This marketing often involves some brand activation solution that engages the senses of its audiences and evokes a physical experience that makes them believe it.
In contrast to this, traditional marketing methods focus on the features and benefits of a product or service. This relies on the customer’s own discretion to choose what has the highest utility rather than convincing them.
Hence, the lack of engagement and enjoyable sensory experience makes traditional marketing lag behind experiential technology marketing.
Experiential marketing works by educating the customers, meanwhile giving them valuable experiences that enhance your brand name. Since the campaign idea/ message looks like an after-thought to the audience in this way, it makes it look more believable. It has also been found that most customers repurchase an item after experiencing it through a brand activation solution. This is why an event activation agency focuses on convincing the target group through this method rather than traditional marketing.
The innovative and unique approaches that experiential technology marketing takes towards customer engagement has led to an improvement of branding techniques from the past to today. Successfully creating brand centred experiences for varied people and turning their opinions positive, finally leading to a lot of word-of-mouth publicity makes it a very effective tool. The same cannot be said for traditional marketing methods.
Marketing today is an immersive and permission-based experience rather than a simple one-way communication that was traditional marketing. If the format is non-invasive and does not breach too much of their privacy, consumers are willing to be a part of their chosen brand either through brand activation solution or other aspects of experiential marketing. All of these indicate a growing decline in the popular use of traditional marketing.
Audiences today have different ways of consuming information and entertainment than they had in the past years. They now stream shows and movies, have internet podcasts instead of radios and news on the phone instead of newspapers. This means that they have blocked out a lot of traditional marketing methods that utilize television, radio and newspapers advertising. Any marketer or event activation agency has to look for different marketing and advertising methods to reach its audience.
Interacting and making an impact on the audience is the essence of what any brand needs today. Whether it is live streaming, live tweeting or using other apps to go live, this is easily achievable. However, experiential technology marketing mixes and uses other means of marketing in the overall plan and creates a synergetic communication. Since it harmonizes so well with other methods and mediums of marketing, gaining the loyalty of customers becomes easier with just live experiences.
Experiential marketing methods have developed over the years and have made their presence prominent on social media platforms. With the right planning and proven marketing strategy, leading to a lot of success and fruitful results for those who have utilized them.