If there’s one thing marketing experts know for sure in 2019, it’s the fact that traditional marketing methods don’t work anymore when it comes to creating an impact on customer’s minds. For someone to interact with your brand and become a loyal customer, takes more than a national TV ad, radio ad or newspaper ad. People these days look for a more in-depth, more intimate experience with the brand to consider its products for purchasing.
This is precisely where experiential marketing comes in. Experiential Marketing utilizes experiential technology and brand activation solutions to curate a memorable, informative user experience for your customers at any of the branded events you organize.
Already popular amongst a host of brands for its almost sure Returns-On-Investments, better brand recall value and authentic word-of-mouth through happy guests, experiential marketing is quickly becoming the go-to marketing activity for both established and up-&-coming brands.
Some of the best experiential marketing campaigns boast of, not only a higher ROI and enhanced customer satisfaction, but also improved brand recall value, better word-of-mouth, among other benefits.
It’s not just us that are singing the praises of experiential technology solutions, but top marketing experts have been signalling the rise of a new era of brand activation solutions that guarantee brands their share of ROI, better customer experiences and increased online presence, besides other goodies!
Below, we bring you the top 6 experiential marketing statistics of 2019 that’ll surely teach you something new:
1. Business owners are convinced that events play a key role in a brand’s marketing strategySource: Harvard Business Review
This study undertaken by the reputed marketing publication Harvard Business Review produced some exciting findings. In its review, the publication interviewed some 700 business owners about their marketing strategies, and found that almost 93% of those make event hosting an integral part of their marketing plan!
Additionally, it found that almost 85% of these business leaders interviewed not only mandatorily included experiential technology solutions and brand activation solutions in their marketing plans, but also prioritized thinking these events through and planning these in the best way they can, to ensure they turned out successfully and fulfilled their purposes to the T. Some food for thought right?
2. An astounding majority of business owners believe that events lead to the best engagement in this digital eraSource: Bizzabo Event Marketing 2019
This study, undertaken by Bizzabo Event Marketing, furnished some eye-opening results! It said that almost 95% of the business owners it interviewed, stated explicitly that they believed branded events were the best possible way to get potential customers interested in their brand, and engage with it in a fun, creative way. Their findings have a ring of truth to them as in today’s digital era, connections do come difficult and the young population has fleeting memory, thus making a super-fun and engaging branded event a necessity to engage potential customers for the long haul!
The business owners further stated that they harvest the connections once established through these events using a multitude of direct marketing strategies including emailers, social media, cold calling etc. Sounds good indeed!
3. Companies that are successful in realizing their business goals often carve out an increased budget for live branded eventsSource: Bizzabo Event Marketing 2019
This study found that businesses that are, in everyday slang, ‘killing it’, tend to spend almost 1.7 times more their annual live marketing budget on live events! They’re talking companies that generate a pretty excellent ROI report, and typically host over a 100 events per year! Kinda makes sense, as businesses which are already experiencing success in their experiential marketing efforts, tend to overspend on future events, thus in a way ensuring that they succeed the success of the previous events.
Need any more proof that brand activation solutions actually work?
4. Customers say attending live events lead to more positive thoughts about a brandSource: Event Track 2018 Executive Summary
This study was undertaken by Event Track 2018 Executive Summary shows that out of all the people who attend a branded event, 91% said they were able to understand the brand better and establish a deeper connection with it afterwards. Also, they formed mostly positive impressions about the brand in the wake of attending a branded event! Wait, there’s more! Around 85% of these said that not only did they liked the brand after attending an event, but also were likely to make a purchase! Isn’t that great?
5. More businesses are increasing their experiential marketing budget in 2019Source: Bizzabo Event Marketing 2019
As more & more brands are coming to terms with the fact that experiential technology solutions are the best way to reach potential customers, the findings of this study conducted by Bizzabo Event Marketing 2019, that around 62% of business owners plan on increasing their event marketing budgets so as to produce the best experiential marketing campaigns around!
Almost half of these brands believe that hosting an event is the best marketing activity to draw young customers in!
The same study also found that almost 30% of brands look towards sponsoring such branded events of other companies, in the hopes that it’d get them some amount of exposure, and another 19% of brands utilize their experiential marketing budget to attend such events to make their presence felt at these events!
6. Experiential Marketing leads to increased salesSource: Marketing Charts
This study conducted by Marketing Charts surveyed leading marketing executives, concluding that the most critical and worthwhile leads and conversions were generated through experiential marketing efforts. The survey also documented that of all the marketeers interviewed, 68% admitted having received great leads from experiential technology events, of which, about 55% lead to definite conversions and sales! Pretty impressive indeed!
Experiential marketing and brand activation solutions are here to say, that’s for sure. If you’re looking towards creating a good brand impression, a better recall value and generate trust amongst your customers, experiential activation technologies come in handy. The above findings only strengthen what marketing experts already believe in, that the best experiential marketing campaigns, are also the marketing campaigns that lead to higher ROIs, increased sales and conversions, forms a better brand image, forges deeper and long-lasting customer connections, as well as generate good, authentic word-of-mouth from the guests who have been exposed to your branded events!
So go on, and jump right on the experiential marketing bandwagon, to experience a whole new world of increased business opportunities and sales!