• Future of Experiential Technology December 12, 2019

    The Future of Experiential Technology

    It is not a surprise that traditional marketing is becoming less relevant day by day in 2019 as experiential marketing has been the new thing in the world of marketing for quite a while now.

    Due to changing demographics, the needs and perceptions of the consumer have changed too. While in the olden days, most consumers were concerned with the key selling points of a product or service, most consumers are looking for an authentic connection with the brands they love these days.

    Experiential technology solutions have made it possible for brands to allow the consumer to experience and live through the values of a brand.

    This is especially powerful in today’s world, and experiential technology marketing has become a medium through which brands can genuinely connect with the consumer and establish a real connection with them.

    The rise of experiential marketing can also partly be attributed to millennials and Gen Z, who are in the prime working years of their life.

    Their attention is highly valuable to marketers and advertisers all over the world. Experiential technology marketing is a natural response to their demands for authentic communication from the brands they love.

    In this blog, we’re going to take a look at why experiential marketing matters today, trends in experiential technology marketing and what the future holds for it.

    Why Experiential Technology Matters Today?

    brand activation and promotion

    Some of the major reasons why experiential technology solutions matter a lot in the marketing zeitgeist today are the following:

    • The needs of millennials and Gen Z have started a cultural shift due to which acquiring experiences has become more important than acquiring possessions.

      A brand activation solution allows any brand to provide an experience that the consumer genuinely values. This furthers the goal of the marketing initiatives by directly connecting the brand and the consumer in an authentic and real manner.

    • The beautiful thing about a brand activation solution is that it can be used to deliver more than just one single message, a limitation that is often faced by traditional marketing initiatives. With experiential marketing, the focus is on creating an overall experience that has the brand’s values at its core.

    • Experiential technology solutions allow for a multi-dimensional marketing initiative that spans across the digital and real world. This, in turn, increases the recall value of the brand for the consumer. 

    The Future of Experience-Based Marketing

    Brand Experience in Experiential Marketing Campaign

    As established above in this blog, experience-based marketing is the most effective way of reaching millennials and Gen Z. While the concept is not new, only in the last few years has it started becoming big and being adopted massively.

    It is interesting to see what the future holds for experience-based marketing, and nobody can predict the future. Still, there are some trends that are likely to be seen soon for experiential marketing. Let’s take a look at some predictions for the future of experience-based marketing.

    Bigger budgets

    Experience-based marketing has proven to be one of the most effective methods of reaching out and marketing to the most important audience segment in the marketing world today. Naturally, more and more brands are willing to add an element of experience-based marketing to their overall marketing initiatives.

    Obviously, this means that the budgets for experience-based marketing will keep increasing in the near future with more and more brands getting in on the action.

    On the flip side, it can be a bit of a problem to demonstrate a clear ROI to experience-based marketing budgets, which is a challenge faced by today’s marketing teams all across the world.

    Experience-based marketing will become more mainstream

    In today’s world, an experience-based brand activation solution is not really commonly found at most events. In the coming years, experience-based activations will become more and more mainstream and will become part of the mainstream world of marketing.

    Brand activations will become more immersive

    Due to the rapid developments of technologies like augmented reality and virtual reality, it is safe to say that brand activations in the future will also become more immersive for the consumer. Activation technologies for events like augmented reality can be used to create a more immersive experience for the consumer when it comes to brand activations.

    A deep level of immersion for any brand activation solution leads to a more complete experience for the consumer which then leads to a better and deeper connection between the brand and the consumer, increasing the effectiveness of experience-based marketing initiatives overall.

    Innovation will be the key driving factor for experience-based marketing

    The only limitation for experience-based initiatives and technology is creativity these days. It is pretty clear that in the future, innovation will be the key driving factor for brand activations and experience-based marketing initiatives.

    This is a trend that has already been seen in experiential marketing initiatives these days with some impressive and impactful brand activation used by leading brands all over the world.

    Experiential Marketing is a reflection of the changing times

    As mentioned many times in this blog, experience-based marketing is a natural reflection of the times we’re living in.

    Consumers these days prefer authentic, honest brands and focus on aspects such as sustainability and believe experiences are more powerful and valuable than possession.

    Experience-based marketing initiatives are already one of the most impactful forms of marketing and in the coming years, they will only become more effective. In order to stay relevant and have a high recall value, most brands will have to indulge in experience-based marketing in the near future.

    Conclusion

    The future of marketing is experience-based marketing. It can be easy to find signs leading towards that today already with huge brands realizing the potential of experience-based marketing.

    The biggest challenge in the future of experience-based marketing will be innovation and experiential marketing agencies have to work really hard to create experiences that are truly special and unique. Regardless, the coming years will definitely be very interesting for the world of experience-based marketing.

    We hope this blog was enlightening for you. Keep reading this blog for the latest in the world of experience-based marketing.