Experiential marketing which is also known as engagement marketing is different from more traditional marketing methods in the sense that it encourages and facilitates the process of interaction with a product or brand. This fundamental distinction is further emphasized when claiming that experiential marketing campaigns communicate with the customer on a much more personal and individual level than large media campaigns.
The result of this intimate interaction is a higher emotional attachment to the product or brand which results in higher conversion rates that require a small capital investment. Engagement marketing firm provides an entirely different experience from traditional media advertisements. This type of advertisement such as television ads has been declining in effectiveness over the past few years possibly due to a crowded market and a higher awareness of techniques used in advertising or just general skepticism among consumers because of the endless stream of advertisements.
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What is different about this type of advertising is it draws the viewer in without coercing consumers into an engagement. The benefits of this kind of marketing are numerous and can bring numerous benefits to companies.
Some of the applications include:
* Raising the awareness of the name or product.
* Building relationships with clients and increasing their loyalty.
* Helping to create positive memories about the brand or the product, which results in spreading the word.
* Inspiring hype about the product or brand in the right target audience.
* Reversing negative press by using positive reinforcement.
Experiential marketing does however have limitations, it is not often used in large-scale campaigns. National activities tend to be too large due to budgetary limitations, while international campaigns are difficult to come by (although it is not impossible). These bigger campaigns are often coupled with more conventional campaigns to maximize the value of these events.