When it comes to growth amongst various marketing channels, the annual EventTrack’s latest research confirms what everybody already knows. The studies were published this past June.
Experiential marketing leads the pack, with 93 percent of people agreeing that live experiences are better and more powerful than traditional TV advertising.
Every year, Event Marketer releases their EventTrack data to showcase the current state of marketing around the globe. Event Marketer has been called one of the premier content providers in the world, specializing in the event and trade show sphere. Founded 15 years ago to serve brand-side event marketing firms, and professionals, the company keeps track of mobile marketing, street events, corporate events, virtual events, PR campaigns and sponsorships, buzz marketing and more. Event Marketer offers a bi-monthly e-newsletter, hosts the yearly Experiential Marketing Summit executive conference and the Ex Awards, and also hosts the annual EventTech conference with the Experience Design, and Technology Awards.
EventTrack’s numbers revealed that live events offer better context for consumers, and ultimately a better understanding of a product, service or brand.
EventTrack’s numbers revealed that live events offer better context for consumers, and ultimately a better understanding of a product, service or brand. It trumps (excuse my use of the word) any other kind of advertising. EventTrack data calls it the best platform for crafting and distributing content within B2B and B2C markets alike.
The company known for content creation sees experiential marketing as a type of live “content factory.” However, in this scenario, it’s consumers who are shouldering the burden—and happily. Companies are offering the experience, but it’s the consumers who are documenting and sharing photos/videos to spread the content of their own volition. Experience marketing done right spreads like wildfire thanks to happy consumers, which aids in activation. It naturally increases credibility, reach, and total engagement. “This is a trend that shows no signs of slowing down,” says the data miners.
No End in Sight
EventTrack suggests that experiential marketing won’t be slowing down any time soon, but companies need to hustle and innovate to keep up. The vast majority of businesses cling to traditional marketing methods. When experiential marketing is strategically planned and executed, it taps all senses while mixing in social media integration. The result can be an “explosive” customer experience. Even though experiential marketing is definitely trending, there’s still plenty of time for certain businesses and/or industries to be the first in their vertical to tap it.
However, as is often the case with any marketing approach, many brands are approaching experiential marketing incorrectly. Experiential marketing requires the actual tickling of various senses. This can include a variety of tools, including VR machines. However, using VR machines in and of itself does not make for an experiential marketing campaign. Many companies are scrambling to get into experience marketing, but doing so blindly or depending on subpar agencies to make it happen.
A failed experiential marketing campaign can do serious harm. You want consumers to be talking about the event when they’re raving about it, not complaining. However, it’s much easier for participants to complain rather than pile on compliments and spread the love. One wrong move, and a poor experiential marketing event can be costly and very time-consuming to correct.
Do your research and execute well. EventTrack’s data suggests that growth is inevitable, and encourages companies to get on board fast and properly measure their marketing efforts.