Essentially, the term “experiential marketing” refers to the marketing methods and practices of businesses that employ the use of immediate feedback to gain customer insight and understanding.
People refer to these services as “social advertising.” In an all-too-common trend, consumers are reluctant to purchase things they have no way of seeing.
While there are certainly advantages to such reticence, social media has an increased potential to level the playing field and help people make informed decisions.
What Is Experiential Marketing?
Some people associate social media with cell phones and other small handheld devices.
In reality, the social media environment is one in which consumers can shop with the use of their smartphones.
They can “post” photos, add notes, write blogs, post YouTube videos, and post status updates directly to Facebook and Twitter.
These are all venues through which businesses can reach consumers on a real-time basis.
In some instances, social media platforms may offer services that could make life easier for a business.
For example, a restaurant may offer a “My Favorites” feature on its website. Customers can access this feature and add their own “favorites” to a food-specific “favorite’s list.”
Businesses use these lists to help distinguish their products and content from others.
What Are The Benefits?
How Is Experiential Marketing Beneficial To Businesses? A few years ago, a single restaurant would not have had a widespread social presence.
Today, they have thousands of followers, and they share photos and content with their fans throughout the day.
All of these consumers are giving feedback to a business, helping it to decide what products to promote them more efficiently.
There is also something called “experience marketing.” This type of marketing is probably most common in traditional brick-and-mortar stores.
It typically involves a business promoting its products or services to a group of people at a location that offers the service or product.
How Is Experiential Marketing Attracting Consumers? Today’s consumers value-immediate, real-time feedback more than ever.
This is what makes social media such a powerful tool to reach consumers.
What Is Experiential Marketing? In summary, experiential marketing is the “fourth pillar” of business growth.
It offers businesses another way to interact with consumers. In doing so, it offers a wonderful opportunity to bring more consumers to your doors.
If you have any questions or comments, feel free to reach out to us, remember that we are here to help you.