In this new age of marketing, experiential marketing is widely practiced and appreciated as a tool to create an emotional connection between customers and brands.
Being able to introduce buyers to a specific product in a way that immerses them in an experience is important, in a time & age where a lot of purchases are made based on item descriptions and photos. Nonetheless, there are many prejudiced opinions, held by those who are not convinced of the efficiency of Experimental Marketing.
Many marketers have realised that companies are still figuring out the concept of experiential marketing. In this grasping process, some myths have emerged that need to be often corrected by the marketing experts.
Listed below are a few most common experiential marketing myths that can prevent a marketer from setting up & executing a successful campaign.
Myth 1:
It’s Restricted to Big Brands
Experiential marketing has nothing to do with whether the brand is a small start-up or a behemoth. It’s all about the quality of the experience, therefore a big brand and a massive budget do not necessarily make an effective campaign. The motive behind experiential marketing is to create an engaging experience to harmonise consumers with the brand, rather than using the brand’s name to engage in the experience.
By creating an alluring experience you bring in perspectives for your brand, which might normally go unnoticed. As a marketer, this enables you to convey strong messages and build a strong connection with the audience.
Myth 2:
Huge Budgets are Required to be Successful
Absolutely not!
Renting out equipment is not something to shy away from! In fact, they tend to offer the same level of versatility and flexibility while being noncommittal. It’s great for testing out new products, and budget-friendly.
In the words of Jeff Milgrom, President and CEO of Event Marketing Strategies, “Without spending much, experiential marketing programs can be highly targeted to a specific audience or demographic, allowing a company to customise the experience.”
Myth 3:
It’s Expensive
Several experiential marketing campaigns are expensive, but not all! You need not have to spend a lot to make a powerful impact. We know creativity goes a long way in impressing customers, and many great ideas surprisingly come at a budget of little to no cost.
You might have to invest in travel if you have national customers’ events, but if you’re promoting locally, you can easily earn the cost spent, in extra sales.
Myth 4:
It’s a Trend
Experiential marketing is not a trend. Experiential marketing proffers brands to connect with potential customers one on one. Introducing new audiences to your products or services gives you a chance to learn more about your target audience.
You will acquire feedback during these experiences that you wouldn’t have received if the products were available online only. Eventually, it completely relies upon the brand and what message they want to convey.
Myth 5:
It’s Just a Single Event.
Surely not!
Although, your campaign may be a single event, but in order to own true ROI, you need to plan on attracting your audience back, during and after your campaign.
Deprived of proper planning, you will give away valuable resources executing a campaign with no calculable ROI.
Myth 6:
It Only Works for Specialist Sectors
Experiential marketing is reliant on the quality of the experience; it’s all about how can you engage your consumers.
Whilst there are some products which are more naturally befitted to experiential marketing, but honestly speaking, the only restriction on this medium is the creativity of the producers.
For an instance, a personnel recruitment company wouldn’t profit from handing out flyers on a high street, instead an engaging booth at a trade show is a much more appropriate idea for more likely to create a business. Experiential marketing is all about doing it right and thus can work for any one!
Myth 7:
Word of Mouth Is the Best Form of Marketing
Probably, this one is true. Although you can’t just reckon your clients to write about how efficient your company or product is. Instead, videos and case studies are a great medium to make your company and its products accessible by connecting them to consumers. Place them on your website in an organised manner so that the product’s purpose and aim are quickly grasped by the customers after finding someone relatable.
There is a need to debunk these common myths of experimental marketing as it is now a part of the most significant events a business can organise to impact their bottom line. If enterprise companies can bypass these marketing myths they are sure to attain more prosperity.