Clients are continually asking for improvements in both ROI and ROE – Return On Experience, which measures the changes in brand perception before and after an event.
Experiential marketers have to find ways to continually exceed expectations.
Engagement is the key in developing and retaining the brand ambassador, the people who will deliver value and return for your clients. Within this engagement process, marketers are required to be more creative and more innovative. Succeed in these areas and better engagement with cost saving will surely follow.
In challenging times, marketers should ask the question: “What can I do now that I did not do before?” This approach is a great position to take when your world has been turned upside down. This leads to “how can I reposition myself, so that I will be better placed than I was before?”
Building long-term relationships while looking to achieve sales success is a priority within any company and this maxim comes back to the engagement process and how customers are ultimately retained.
Surveyed marketers said they would double their overall spend within the field of “experiential marketing” with 30 percent, adding they would allocate over 10 percent of their total budget to experiential.
Agencies proving value has never been more important and justifying every dollar spent in achieving this is a key parameter. This measurement can be undertaken by leveraging experiential marketing strategically rather than tactically. This approach creates lasting value for a brand and its business.
This is essential when media budgets are continually being challenged and every dollar spent has to achieve so much more than ever before. For example, a Yellow Tail wine launch had over 12,000 direct responses related to a consumer incentive.
Clients are facing mounting pressure to engage with their audiences while delivering a targeted message, in a cost-conscious world where audience’s media habits are forever changing.
Experiential marketing is able to deal with these concerns by creating strategic events that are, creative, cost effective, measurable and successful.