Scale-up series: what is experiential marketing?
In the latest instalment of our scale-up series, we look at ‘experiential marketing’, a form that really stands out from paid product ads, pop-up banners, and content.
‘Experiential marketing’, also known as ‘engagement marketing‘ or ‘event marketing’, is a marketing strategy that involves creating immersive and interactive experiences for consumers to promote a product, service, or brand. Rather than relying solely on traditional advertising methods like TV commercials or billboards, experiential marketing aims to engage consumers on a more personal level by providing them with memorable and interactive experiences, than then encourages them to spread the value via word of mouth.
Examples of experiential marketing campaigns might include hosting a pop-up shop or event, creating an interactive exhibit or installation, or sponsoring a live performance or festival. The goal of these experiences is to create an emotional connection with consumers and to encourage them to share their experiences with others through social media and more organic means.
Experiential marketing can be particularly effective for engaging younger consumers who may be less receptive to traditional advertising methods and who value experiences and social sharing. By creating unique and memorable experiences, brands can increase brand awareness, build loyalty, and drive sales.
A common problem we see in businesses that are starting to grow past the point of being a start-up (referred to as the scale-up phase), is the same marketing tactics that helped them grow from just an idea into an actual business, is using the same growth tactics.
Recently released data suggests global internet users are now numbered at 4.95 billion, compared to the 4.74 billion social media users. Google alone serves more than 40,000 search queries every second on an average day, that’s over 3.5 billion searches per day – something that social media cannot measure up against.