What is Experiential Marketing??? Who invented such a silly word as “experiential”?
What was the last silly word invented? Twitter? Or was it Google? Wonder how those “words” are working out…hmm…
The IXMA offers this “manifesto” in defining experiential marketing?
1. EXPERIENTIAL MARKETING must be predicated on one-on-one personal interaction between a marketer and a consumer.
2. EXPERIENTIAL MARKETING will be conducted when the consumer chooses.
3. EXPERIENTIAL MARKETING campaigns should clearly deliver a meaningful benefit to the consumer.
4. EXPERIENTIAL MARKETING is based on engaging people.
5. EXPERIENTIAL MARKETING must be based on individual experiences.
6. EXPERIENTIAL MARKETING’s goal is to succeed using innovative approaches and tactics to reach out to consumers in creative, compelling ways.
7. EXPERIENTIAL MARKETING is idealistic enough to empower the individual consumer and street-savvy enough to unleash the power of grassroots activation.
8. EXPERIENTIAL MARKETING is about authenticity.
9. EXPERIENTIAL MARKETING assumes that the entire world is media, and the entire universe is the consumer base.
The buzzwords and buzz-phrases that describe and categorize examples of experiential marketing are not nearly as bad as those often used in more traditional corporate settings – like “change agent”, “paradigm shift”, “core competency”, or “aspiration statement…”
In fact, at first glance, one might not even consider these words and phrases as essentially synonyms for experiential marketing. Here are some examples:
Cause Marketing: Promotional strategy that links a company’s sales campaign directly to a nonprofit organization. Generally includes an offer by the sponsor to make a donation to the cause with purchase of its product or service. Unlike philanthropy, money spent on cause marketing is a business expense, not a donation, and is expected to show a return on investment.
Co-Op: The sharing of advertising costs between a manufacturer and distributor or dealer.
Cosponsors: Sponsors of the same property.
Cross-Promotions: A joint marketing effort conducted by two or more cosponsors using the sponsored property as the central theme.
Sponsorship: Defined by IEG in 1982 as: A cash and/or in-kind fee paid to a property (typically sports, entertainment, non-profit event or organization) in return for access to the exploitable commercial potential associated with that property.
Tribal Marketing: Term coined by First Matter to refer to the creation of affinity groups for commercial ends. Perhaps the most notable and successful contemporary example is Harley-Davidson, which has coupled the sale of motorcycles and peripherals to the creation of weekend motorcycle clubs and an entire way of life built around Harley-Davidson products. Tribal marketing works best when it is constantly reinforced with icons.
I must credit IEG in “providing” all of these definitions – all of which and more are listed on their web site: www.sponsorship.com. I highly recommend it.
Anyhooo…once again the common thread is the “group thing” (see yesterday’s entry) in that a relationship – based on feelings, relevance and meaning – must exist in order for the marketing or sponsorship or philanthropic endeavor to be successful.
Do all experiential marketing activations need to be events?
Will experiential marketing activations work better if live events are part of the equation? ABSOLUTELY.
Is this not every advertiser’s goal? Is this not every fundraiser’s goal? The answer is obviously yes, but many organizations haven’t learned to play bingo experientially.
"Throw A Party!" Create and implement experiential marketing solutions (live events and online communications) that are personal and memorable such that you redirect existing and ongoing consumer affinity, participation, revenues, and loyalties to your business or brand.
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