Many small business owners, whether they are just opening their doors or they’ve been in business for awhile, often find themselves lost in the digital noise, face in their hands, repeated sighs, trying to visualize something, anything, to get their businesses the attention and profits they need and deserve.
While researching these issues, the one thing that we’ve concluded is that the BOGO on Veteran’s Day or the President’s Day sale just isn’t going to cut it in 2018. We would like to offer something that appears to be trending in leaps and bounds. Now, it’s not a new concept by any stretch of the imagination. Large corporations with huge budgets have been on top of this for several years now. Small business owners simply didn’t believe they had the budgets. Not so!
We’re happy to inform business owners and your thought leaders that there are infinite ways to implement what is known as Experiential Marketing aka Event Marketing. This form of marketing can be an amazing, positive community experience that won’t only bring in clients and profit, but will create brand ambassadors and word-of-mouth beyond belief, not to mention the ability to enhance your digital marketing opportunities both through your respective marketing persons and departments and your attendees!
Experiential Marketing – is a marketing strategy that engages and therefore connects consumers with brands, live and in-person, up close and personal! As opposed to viewing potential clients/customers as those who will passively receive television/radio/online/newspaper ads, those who choose Live Marketing engage consumers through personal interaction. They bring their marketing efforts live. This strategy will allow potential clients/customers to develop brand connections. These live events assist in the creation of brand loyalty, by engaging all of the senses with those who attend. These marketing strategies are also known as:
- Participation Marketing
- Special Event Marketing
- Engagement Marketing Events
- On-Ground Marketing Events (to name a few)
Take a Look at These Statistics:
- According to a study conducted by Bizzabo; in 2017 91% over over-performing businesses have begun to emphasize experiential marketing (live events). Those same companies intend to increase their marketing budgets by at least $4500.00 in 2018 and beyond.
- The results of a 2017 Event Marketing Institute study, conducted annually with both marketers who arrange their events and those who attend these events have provided the following results:
- Of all consumers who have attended live events, 65% stated that by attending live events they were provided a better understanding of products and services as opposed to simply viewing TV ads or experiencing other advertising methods.
- Of all attendees surveyed, 80% said that by attending live demonstrations, receiving free samples, etc., this strategy assisted significantly in their purchasing decisions.
- An unbelievable 70% of live event attendees become regular clients/customer after attending the event.
- An astounding 98% of attendees surveyed feel that they are much more inclined to purchase from the business or brand who held the event (becoming brand loyal).
- 33% of those who attend these events will take pictures and video of the event they are attending.
- 34% of event consumers will post information regarding their experience with the event they have attended and will place it on their favorite social media venues.
What About Marketers Who Hold These Events?:
- According to Bizzabo; an amazing 80% of companies who use live event marketing in the U.S., say that these events have proven to be vital to the success of their companies/businesses and…
- Of all of the marketers surveyed, 95% agree that by holding live events with their brands, they are providing their attendees a chance to step outside of their digital world and form increasingly valuable in-person relationships and connections.
- According to Statista, 79% of those who market their business with live event marketing are experiencing increased sales.
These are some extremely impressive statistics, and 2018 will be the year for small businesses to step outside of their websites and brick and mortar establishments to use these methods that are likely to increase your sales dramatically, provide you community appearances, and likely make important differences in your local communities. This marketing strategy is in no way confined to video gaming companies or huge corporations with giant marketing budgets. It’s for you! The small business owner and even the entrepreneur wanting to get their businesses off of the ground will benefit from this method of marketing. This marketing style works for all types of businesses from the local non-profit to the Fortune 500 companies and beyond.
If you’re uncertain about how to compliment your marketing efforts, consider experiential marketing as a goal for your business in 2018! Holding one of these events could significantly change the trajectory of the public view and profitability of your business and brand regardless of its size.
At Cogent Analytics, we never stop looking for ways to improve your business and neither should you. So, check out some of our other posts for helpful business information: