Experiential marketing has rapidly increased in popularity over the last few years as a new and interesting way to garner attention from the consumer public. Typically you will find these types of marketing campaigns anywhere from supermarkets to street corners, there purpose is to interact with the public and effectively promote a product or service. But why are so many companies choosing to use such tactics? Below are four points showing how experiential marketing can help to promote a new product.
One of the reasons to utilise this form of marketing is to launch a new product. Typically a full product launch will cost millions of pounds for a large brand. Understandably those with smaller budgets require a campaign that cleverly targets the right audience, attracts enough attention from the press and media and delivers the product into the hands of potential customers that meet a predefined set of age, gender and income characteristics.
Experiential marketing can help a product to stand out in highly competitive markets. When a market is particularly packed full of products one of the only ways to attract business is to give potential buyers the opportunity to try the product first hand. It is only through this firsthand experience that it is possible for customers to understand how a product may help their lives or make functions easier or simpler.
A good marketing campaign will achieve one massively important element in the world of promotion. This is to create word of mouth about a product. Word of mouth remains as one of the most important forms of marketing, especially so considering the growth of social networking websites. Getting people talking about your product creates a ripple effect that spreads news of your product far further that you could achieve with a traditional marketing campaign.
Finally, and above all else the purpose of an experiential marketing campaign is to improve sales. By allowing customers to use a product you encourage the growth of sales. Ultimately any campaign should provide return on investment, the money you spend on giving away products and promoting them should provide you with direct sales that generate serious income.
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