Experiential marketing is a marketing strategy of bringing customers into an environment that allows them to experience your brand. Effectively communicating an idea, innovation, product, or service requires insight into the mind of the customer. When you understand what’s vital to your end buyer, you open the door for immediate purchases and future ones.
The ultimate experiential marketing campaign.
A few years ago, Red Bull live-streamed Felix Baumgartner’s jump from space back to earth. Although I have never had a Red Bull and don’t understand the need to do such a dangerous stunt, curiosity had me clicking on YouTube to watch. I was amazed by what I saw. Felix had a bodycam hooked up so the audience could have a bird’s eye view as the stuntman did a free fall through the atmosphere.
My heart was in my throat when he lost control of his body, spinning wildly through space, commenting to mission control that he felt like he would pass out. Luckily, he regained control of the momentum right before bursting through the atmosphere. At 7,000 feet, he released his parachute to land safely on the ground.
This video has gotten over 128 million views so far, and although I may never taste a Red Bull, the stunt has effectively etched their slogan of “Red Bull Gives You Wings” firmly into my mind. Knowing what experiential marketing is and why it is important to your customer gives you a winning edge in a competitive market.
What is experiential marketing?
Experiential marketing is a marketing strategy of bringing customers into an environment that allows them to experience your brand. Think about the food court at the mall. Which line is usually the longest? You guessed it, the line with the free samples. Tasty morsels of bourbon chicken bring the customers in by first giving them a taste of what it’s like to do business with the company. Give your customers remarkable experiences, and they will return for more.
6 things to remember about Experiential Marketing
- Don’t get so caught up in your extravagance that you forget the marketing.
- Marketing has a point; it compels someone to buy what you’re selling even when you give it away.
- You have to remember your audience; your goal is to make them want to get to know you and your company.
- Keep the main thing the main thing.
- Everything speaks.
- You have failed if the experience isn’t aimed at the audience and driving them back to you.
Remember existing customers in your search for potential customers.
Engage and honor current customers while expanding your vision. Attract a broader customer base by doing the impossible to gain market share. What will make potential customers consider you over the competition?
Use your current market to find new clients.
Develop layers of connectivity with your markets. The easiest way to reach new markets is to engage with the ones you currently have. Would you rather spend your time cold-calling or door-knocking to find customers?
Develop deeper relationships with those already in your circle with these questions.
- Ask people about where they work.
- Ask, who do I have to meet to get that contract?
- Would you introduce me to the person I need?
Bait the hook with free value. Wealth comes from being great every day. Giving value drives business.
Experiential marketing is all about knowing your customer.
Know why your customers buy from you. It’s only worth building if they would buy it. What do people remember from interacting with you and your company? Are you reaching them or just projecting your sales goals onto them?
Potential customers remember the personalized cards and notes because you are reaching them where they are. Earn the right to get their business. Don’t build swimming pools you can’t swim in. No one cares about what you do until they know you care about them. People don’t buy tickets to the venue to sit in uncomfortable seats. They go for the experience.
Marketing is pointless if you are not following up.
Develop a follow-up system to help you keep track of the relationship. The campaign isn’t the end-all-be-all. It is the building block for a solid foundation.