Experiential Marketing Is A Must Have
With the experience generation (a.k.a. Millennials) being the largest living generation in the U.S., marketers have caught on to the fact that traditional forms of advertising are becoming less effective. And not only for this particular consumer base, but for older generations as well. Recent data suggest that Baby Boomers and Gen X share similar characteristics as their younger counterparts, craving adventure and experiences over “stuff.”
Back in the day, Fortune 500 brands used experiential marketing (or promotional marketing as we called it back then), however, it was considered a luxury add-on using whatever money was left over. Fast forward to 2017 and experiential marketing is a must-have.
So what is it about experiential marketing that has brands allocating more of their marketing dollars to live events and brand activations? In short, it’s insanely effective for all generations.
10 Experiential Marketing Statistics You Should Know In 2018
As companies prepare marketing plans for 2018, there are 10 key experiential marketing statistics that marketers should definitely be aware of.
- 80% of marketers believe live events are critical to their company’s success. (Bizzabo)
- 77% of marketers use experiential marketing as a vital part of a brand’s advertising strategy. (EventTrack)
- 95% of marketers agree that live events provide attendees with a valuable opportunity to form in-person connections in an increasingly digital world. (Bizzabo)
- 79% of U.S. marketers generate sales using event marketing. (Statista)
- 93% of consumers claimed that live events had a larger influence on them than TV ads. (Statista)
- 74% of event attendees say they have a more positive opinion about the company, brand, or product being promoted after the event. (EventTrack)
- 98% of users feel more inclined to purchase after attending an activation. (EventTrack)
- 80% of attendees said that live demonstrations and free samples significantly help define their purchasing decision. (EventTrack)
- 98% of consumers create digital or social content at events and experiences (and 100% share the content). (EventTrack)
- 72% of consumers say friends’ posts about branded experiences makes them more likely to purchase the brand. (EventTrack)
Allowing consumers to interact with a brand evokes a positive, emotional connection that traditional forms of advertising just can’t achieve. With the average attention span of Americans being 6 seconds – that’s right, SIX seconds – brands need to quickly woo consumers if they want them to pay attention to what they have to say. Experiential marketing does just that and it’s winning over customers’ hearts – and wallets.