Are you searching for marketing trends in Experiential Marketing In 2017? If so this guide should help. Here we list the top 10 Experiential Marketing Trends In 2017.
Top 10 Experiential Marketing Trends In 2017
1) Bigger Increased Budgets
Expect to see more, higher quality activations. Back in 2013 experiential marketing budgets grew by 7.9% and then a further 5% in 2014. Budgeting facts aside, it’s obvious even to the naked eye of the increasing trend. Five years ago, straightforward kiosk set ups were a customary sight in festivals or malls. All of that is now a thing of the past, technology and social engagement are integrated into all activations. These advancements are a direct reflection of money now spent more toward the industry.
2) Because of this, Expect Increased Permit Costs
Permit costs at private property’s, malls, festivals, events and trade shows seem to be like housing prices, they increase exponentially. Event planners and property groups are realizing the true value of experiential marketing vs. old cash cows like arbitrary sponsorship levels. We have noticed activation permits increase by over 200% in 5 years at some locations. Fervent Events paid one property group $2000 in 2010 for a one-day activation. That location is now at $4500.
3) Larger Brands Will Continue to Combine Public Relations with Experiential Marketing
This is the ideal way for them to write their own engagement story. Neither service is an expert in one or the other, but both are friends in commerce for life. PR & experiential marketing agencies and departments creating strategic partnerships, is mutually beneficial. One example is Red Bull, they have been doing this for years.
4) The Main Differences between Social & Experiential
It’s also important to note PR & experiential are friends in commerce, a relationship none the less that still needs work. In the past, some companies have created a 5-minute stunt purely for social buzz. To me, this isn’t just experiential it’s mostly a social campaign. This relationship between PR & experiential will significantly grow when PR comes after the experiential. Because this is starting to happen, let the marketers produce a program….tag PR on the back of it. Not the other way around.
5) Experiential Marketing Will Continue to Mix Sales
These experiential marketing programs often have a sales component, and at best dismal. This is a direct result of experiential marketing still being a somewhat new industry, and needing to show ROI, or return on investment. Even though regular media can rarely prove direct ROI and may never will, experiential was shaped for a modern marketing age. Traditional media and for many parts print media still get away with no direct investments being associated to them, mostly because ‘it’s always been that way’. Because, brand ambassadors have modern supportive tools like iPads and Point of Service (POS) software. This means that more often than not, makes a ‘sign up’ component that is integrated, making campaigns more liable.
6) Out with the Old
Expect to see less and less charging stations and photo booths. These are great tools, but they were on their way out in 2014 & 2015, in the same way that the QR code was in late 2013 & early 2014.
7) In with the New
Mobile trucks and remodeled shipping containers were a big sensation in 2015, this summer they’ll become even more possible. These are both a Money and “Wow” factor. A mobile pop up (truck) can go direct to a target audience and it’s much more economical than say, a one month 2000sq ft pop up lease. These shops are great, but to do it right they become expensive. The refurbished containers also provide that cool urban feeling, which looks more industrial, less planned. Add up all of these features, and that is what we want to associate with.
8) Brand Ambassadors will become Brand Advocates
We know what brand ambassadors are, and we know what student influencers are. Brand advocates is what all marketers want. We want to represent the brand onsite during activations (as a paid brand ambassador) and online at other times (as a paid influencer).
9) The 2016 Olympics & Euro 2016, The Somewhat Perfect Guerrilla Marketing Moment…or so it seemed
Making a big deal out of publicity stunts at an event are a thing of the past. Nowadays increased security would (a) make unconventional marketing difficult (b) look down upon anything that was carried out. The risks now outweigh the reward. Not 6 years ago a Dutch beer company made big deal at the World Cup in South Africa with an in stadium stunt. At the 2004 Olympics in Athens, Goldenpalace.com also caused some fuss. It would not be surprising for something similar to happen at this summer’s upcoming two mega events.
10) Another One Thousand Plus New Companies Will Launch Tomorrow…
Throughout the upcoming years, our industry will continue to grow. These days Google searches show new companies monthly it seems. Why is this? Interspersed marketing agencies are creating experiential divisions; determined marketers are going out on their own (with little start up costs / and equipment required); younger audiences who have grown up with smart phones and experiential have fresh, identifiable insight; and don’t forget one point – these budgets are thriving!
New Trends In Experiential Marketing Trends
As the term FOMO or “fear of missing out” is gaining ground, marketers are taking advantage of it to promote brands, products, and services. It is done by creating fun, shareable memories that are connected to the products and services companies want to promote. The primary focus is to increase awareness for consumers at live events, but a secondary benefit is when they are well designed participants do more than just participate, they help share and promote. With better than 80% of millennials valuing live experiences over purchasing physical items brands must connect with them through experiential marketing.
Sharable Live Events
EventTrack’s recent study showed that 98% of consumers create their own content at live events. This is the posts they write about the event and the pictures they take while in attendance. The study went on to show that 100% of the content captured at the events shared it across social media. An incredible 83% of people who attend these events share their posts and pictures up to 15 times. Just under half of those people also said that they prefer sharing content they have created themselves instead of graphics or posts that have been prepared by event promoters or brands.
Great ways to promote social media sharing tied with the brand, product, or service is to invest in Snapchat geo-filters and fun photo opportunities that consumers want to interact with and more importantly share, which features your logo and the event’s logo. This means their followers, friends, and family will be reached by your brand and see the fun other consumers had with it.
Eventbrite states that nearly 70% of millennials believe that attending live events gives them a greater feeling of being connected to other people. With the advent of social media, the followers, likes, and people feeling lost in an artificial world of social interaction millennials are realizing the value of in person interaction. This is what makes it so important for companies to have a presence at live events and choose to do pop-ups. People who share a common interest in a show, hobby, or sport can come together to feel connected.
Better Understanding Brands
Event Marketer’s report showed clearly that 98% of your consumers will feel more included to make a purchase, 74% will have a more positive option, and 70% will choose to become regular customers.
There are a lot of different companies, products, and brands all seeking the attention of consumers, and their money. With the deluge of advertising people experience online, on tv, and in newspapers it’s no surprise that any exposure consumers get to your advertising does little to educate and inform. In person experiential marketing efforts cut through the fog of advertising and create memorable, fun, and educational experiences that help consumers understand the advantages of your service or product.
Nearly 80% of millennials say that many of the best memories have been made at live events. An exciting and engaging brand event designed by experiential marketing agency creates opportunities for consumers to attend with friends and create life long memories. Taking the time to meet up live with others that enjoy an interest in the event is time away from work, responsibilities, and offers time set aside to truly enjoy life. When your brand is connected to those type of experiences it is remembered better, and in a more positive light.
Experiential Marketing Pushes Sales
Experiential marketing is great for consumers and businesses. Consumers get to come to fun life events, get to know your brand better, and share photos for friends and family to see. This experience is an investment but does have great ROI when done by the right Experiential Marketing Agency.
When consumers are engaged and excited they spend more. 65% of brands revealed that events and experiential promotions are directly linked to sales. 77% of marketers include experiential marketing as a cornerstone of their advertising strategy. When you associate your brand with a live event it does more than simply get fans to help you reach more people on social media, it helps create lasting relationships with consumers.
Experiential Marketing Agency
When you’re ready to reach today’s consumer and increase your sales give PromoGroup a call or drop us a line with our contact form. We will help you research your demographic, create a compelling experiential marketing event, and take care of all the details. Reaching today’s consumers is done in person and by offering more than just a chance to buy your product but in addition an exciting, engaging, and shareable experience. Today’s consumers care more about where they get to go and what they get to do and tell their friends about than physical products. Take advantage of the most effective marketing method today by using experiential marketing.
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