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.
As companies prepare marketing plans for 2018, there are 10 key experiential marketing statistics that marketers should definitely be aware of.
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.