So how do you measure experiential activity? Well it’s a question that I hear from clients as experiential has increased in popularity and is becoming a necessity for any brand’s marketing mix.
Firstly I think it’s good to recap on what experiential marketing is and the reasons why it’s become more popular over the more traditional forms of advertising. Experiential marketing is a form of advertising that focuses primarily on helping consumers experience a brand. Experiential marketing helps create a brand experience that immerses the consumers with the brand/product and touches the individuals with every sense possible. It allows the brand and consumers to interact; to ‘talk’ to one other. Essentially the goal is to create a memorable and emotional connection between the consumer and brand that will evolve into increased loyalty, brand advocacy and influence purchasing decisions.
So what are the key benefits?
- Engaging the consumer at a personal level
- Generating a genuine connection between the consumer and the brand
- Providing a tangible and memorable brand or product experience
- Allowing for time to be spent with consumers, observing their reactions, interacting with, and learning from them
- Reducing time to inspire action among participants
Unfortunately, in the past, the cost per contact was higher than within other forms of marketing that made measurement even more important and the increasing need to justify this cost. Okay so understanding this and why brands undertake experiential activity, how do we measure it?
Well experiential marketing results can be measured in many ways but these are dependent on the objectives of the activity, but here are some measurements that we use at Corporate Innovations:
• Number of leads opting in to follow up activity
• Number of relevant consumers/shoppers reached
• Number of samples or coupons distributed
• Number of resulting sales or purchase intent
• Quality of data captured
• Increase in trust and confidence in a brand
• Integration into current marketing programmes
• Social media activity and conversation
So there’s no doubt experiential marketing campaigns can be measured but first you need to set and understand some clear objectives and goals. This will also determine at the outset whether experiential marketing is the right tool to meet those objectives. We're about to go live on an exciting experiential campaign for a client that will also be communicating a brand partnership so watch this space….