Traditional marketing no longer has the charm it possessed back in the early 90s. Placing new products beside smiling faces of celebrities no longer drives sales or engages customers. When was the last time you stopped to look at a billboard in NYC? We don’t even want to watch television commercials anymore. With subscriptions to Netflix and Prime Video, we have the option of fast-forwarding through the content we don’t find engaging. We have ad-blockers on our browsers that “save” us from the annoying YouTube ads.
We are living in a fast world, and we don’t have time for filler content. We need something real and new. Research shows that any target audience is more likely to buy a product after participating in an experiential marketing campaign, than after seeing it on TV. Engagement marketing might not be new, but it keeps evolving with the changing trends. According to the best experiential agency in New York, experiential marketing is effective because human beings are emotional creatures and we are looking for a real connection with brands. When a brand delivers an emotional experience, people don’t only respond positively, but they also become loyal customers.
What should be the goal of your experiential marketing campaign?
While the experiential marketing landscape can be a goldmine for brands in New York looking for loyal customers, it can be extremely tricky for those without specific goals. Not keeping general and specific purposes can not only cloud the outcome but also make it extremely difficult for marketing professionals to measure the KPI metrics. For engagement marketing, the KPI metrics typically go beyond the usual number of service purchases, the number of attendees and the number of opened emails. Keeping real, tangible goals can make the measurement of the metrics straightforward for many:
1. Brand awareness – it is not synonymous to brand activation for most enterprises. Brand awareness refers to tracking the sentiment of people engaging with a specific brand campaign, the products and feedbacks. Propagating brand awareness is easy once you have the target demographic in front of you.
2. Generating leads – the general goal of every activation campaign in New York is lead generation. However, it is a little different from generating leads online. You might want people to fill out forms, or upload images with specific hashtags from the location. Each engagement and sign-in will count as lead generation.
3. Boosting sales – no brand invests without a promise of ROI. While the ROI is not always in the form of increased sales, a majority of brands still like to track their sales to understand the returns. Therefore, a few questions come to the forefront – how many products are you selling? Are the buyers your repeat customers? How will you measure the sales after the event?
The only way to garner the interest of the audience in New York is by keeping the experience exclusively experiential. It should not be an attempt to push sales. Getting leads from the event is one of the most significant direct benefits, and these leads will convert soon enough with the right impetus. People dislike promotional events or “engagement” events with hidden sales agendas.
What is your event’s success rate?
The people of NYC are no longer swayed by billboards and TVCs. A company should always try to offer something unique to their target consumers. They should uphold their brand value and messages through exclusive events that set them apart from their competitors. Here’s how you will know your event made a mark on the audience:
1. The conversion ratio – the conversion ratio not only refers to the number of products a brand is selling but also to the number of registrations and sign-ins. Non-ticketed events tend to attract a higher number of no-shows than ticketed events. However, even if you are planning on launching a non-ticketed event, if you keep social media log-ins, website registrations and on-site registrations, it will make quantification easy for the marketing professionals.
2. Pre and post- event awareness – promoting the dates and then hosting the event is not enough to measure the success of an event. Apart from the strength of the crowd attending your event, you need to pay attention to the pre- and post-event engagements of the participating audience to measure the rate of success. You can run direct surveys on the target demographic, or you can track their social media activities using listening tools. Either way, you will measure how your event changed the awareness and perception of your brand among your audience.
3. Tracking sentiments – it is similar to monitoring awareness, except brands need to be looking for specific words like “happy”, “emotional”, “cry”, “joy”, “mood”, “party” and more on the social media posts of their attendees to learn about their feeling regarding the brand and products. It can not only give you the idea about the sales in the upcoming quarter, but it will also guide you towards a more successful event in the future.
Experiential marketing works because people are tired of the same billboard ads in New York. They live in a digital world where information is flowing in from all sides at all times. Grabbing the audience’s attention has become extremely challenging right now. Experiential marketing has an element of real emotion that the target demographic cannot deny.