Marketers, driven by ROI, are constantly looking for ways to spend quality time with their target market at a low cost of entry. This approach strives to achieve true engagement that is relevant and authentic, leading to action and advocacy that impacts both short-term sales and long-term relationships and, ultimately, delivering a solid ROI.
The core to this strategy is experiential marketing, which provides cost-effective “face time” with target audiences and moments of truth that lead to action and advocacy.
As the survey of Marketing Week says, more that 50% of the consumers favour experiential marketing to every other form of marketing. In fact, 48% say that they are more likely to buy a new product if they get the opportunity to try it first. The survey states that experiential marketing increases brand awareness, purchases and recommendations by more than 50%.