Experiential Marketing - The Best Way To Generate The Maximum ROI

Posted by Ice Factor on August 11th, 2018

A recently conducted study found that TV advertising is now only one third less effective than what they were a couple of decades back. During this period the cost of broadcasting ads on TV has gone up by more than 40% while there is a 50% drop in the number of viewers. The situation is more or less the same with most traditional advertising channels as it costs the marketers more for spending less time with their stakeholders.

But under present market conditions only spending more time with prospective and target consumers is not enough to achieve the expected return on investment. That is exactly the reason today's experiential marketing companies now focus upon allowing advertisers to spend 'quality time' with the target audience creating real engagement for the consumers in terms of interaction and direct communication.

The primary focus of experiential tours is to provide the consumers an opportunity to better understand the messages from the advertisers and also to make them understand how certain attributes of the brand are relevant to their lives and necessities. For spending 'quality time' with their target audience and achieving relevant and authentic engagement that will lead to action and advocacy and also impact short term sales and lone term relationship with the consumers - event marketing companies are now keeping experiential marketing at the core of their strategies and it also provides them with a cost effective 'face time' with their audience.

Experiential marketing is comprised of different tactics those include marketing through events and live interaction and also online and offline network engagement for sampling program and one-on-one interaction. Customers too now want the brands to be more actively engaged by the brands and if the conditions are right they are sincerely willing to spend quality time with the brands. Though market experts are predicting a strong growth for experiential and event marketing technology in the coming days but still there is a lingering perception among the advertisers that the efforts of experiential marketing are difficult to measure and therefore cannot accurately demonstrate the ROI.

Time is perhaps the most important factor in measurement of ROI in this type of marketing and apart from allowing the advertiser to spend more quality time with the stakeholders it also requires less time for inspiring action among the participants in the awareness programs and also leads to longer relationships. There is absolutely no denying the fact that with event marketing brands now have more power to engage the consumers through various entertaining interactions that can be extended over multiple platforms over a very long period of time. It is not only time, but quality time that matters the most in modern event marketing strategies for generating the best experience for the consumers.