Experiential marketing – Key to build Brand equity!

Marketing | 6 minutes to read

06th Jun, 2019

The constant marketplace clutter with an abundance of available brands has brought us to a tipping point wherein grabbing consumers’ attention has become a daunting task.

Today, organisations aim at engaging consumers with memorable experiences. Essentially, to engage consumers and boost direct participation with a brand and/or its products, experiential marketing comes to rescue.

Essentially, experiential marketing aims to allow consumers to experience something tangible, associated with the brand, be it an exhibition or a live event. It provides real and unique value in terms of consumer awareness, improving perceptions and building lasting relationships.

Additionally, it makes consumers more likely to share their experience with the others, furthering a campaign’s reach.

How to build brand equity with event marketing?
Events help win over even the skeptical consumers and build brand loyalty with those who were already interested, thereby increasing the overall audience engagement.

Ideally, before conceptualizing an event, important is to figure out how you can align with your overall marketing strategy. Yes, this simply signifies one important thing – Having clear business goals and a robust marketing strategy wherein you should be clear in terms of how and why your event will connect your consumers to your brand better.

What are the things you just can’t afford to miss?
Building brand equity is certainly challenging, which is why many companies turn to experts for help. Let us have a look at some the crucial components of experiential marketing which you need to ensure to resonate your brand amongst countless consumers.

The subtle art of Storytelling
Can you still recall the bedtime stories of childhood? Undoubtedly, we as a species, thrive on stories. Now, since marketing is an art of narrating stories of a brand, the consumer buys your version of reality.

By giving your products and services an identity by sharing the stories they really are, you can take your target audience on a journey they yearn to experience. For consumers to form a personal connection with your brand, brand stories must be authentic, creative and inspirational.

 Benefit of being Partners
Hosting the event with other brands can not only save costs but also expand your reach to a new segment of your target audience. However, be vary of the brands that target a similar audience, but do not sell similar products or services.

For instance, a hair care brand could partner with skin care or cosmetic brand since this target the same audience, but with different products.

Social Media says it all
Grab free publicity by encouraging your audience to share videos and photos of the event with their followers on social media. You may also host a contest/giveaway during the event that encourages the audience to post on social media.

For this, you may create a unique hashtag for your event so that every time you/your audience promote the event on social media using that brand hashtag. For better recall, make sure the hashtag gets included in marketing materials distributed prior to and during the event.

Tapping into the Consumers’ Emotions
Cut the clutter with uniqueness. One way to give your brand a competitive edge is to create an emotional connect with the consumer. Consumers that are emotionally connected to a brand are more likely to reminisce the brand, and they often become loyal customers as well.

All in all, Experiential Marketing has a major impact on the main dimensions of brand equity by creating favorable associations. Through interactive engagement tactics, consumers get more willing to hear, sense and feel the message a brand wants to communicate. Clearly, the brand has to shape the way it is seen, with appropriate elements that appeal to its target audience.

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