Posted September 30, 2018 by National Event Staffing
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The word that seems to be on most marketers’ tongues right now is “millennials”. This generation, which most define as born between 1981 and 1997, are coming into their own in terms of spending power. But what about Baby Boomers, who, according to this article, have more disposable income and “hold ‘the money’”? Appealing across generations is the smart bet for most brands, and brand experiences can help. This week, we are discussing the power of experiential marketing to bridge the generation gap. We also feature an article that discusses the role of digital marketing in the brand experience. Another showcases top trade show trends of 2018.
Targeting your consumer base using demographics is a standard form of segmentation. In addition to income, gender, location, and more, a person’s generational identity often comes into play. Exactly how you market to each group can differ – but should it? The article points out that “The four biggest generations are the Baby Boomers, Generation X, Millennials and Generation Z. While their characteristics may vary, there is one form of marketing that is effective for all four generations: experiential.” Regardless of age or motivation, face-to-face marketing is powerful. Here the author gives rationale on why brand experiences can bridge the generation gap, and what appeals to each group.
Experiential marketing requires a lot. Designing brand experiences means that your company is making a significant commitment. From the time invested to the money spent, experiential marketing carries with it a certain risk if efforts fall flat. And, to many companies and brands who have not yet given events a chance, allocating that kind of investment can seem daunting. But, there is great news. The data stand firmly behind experiential. Many studies, including the yearly event industry research survey Event Track, find that event experiences drive brand loyalty and revenue. Here companies can calculate the risks involved in event marketing, as well as learn about the vast rewards.
The retail industry is one of the most dynamic in the modern marketplace. With the addition of online, this sector, which was once dominated by brick and mortar, is now rethinking how to maintain and evolve market share. Yet, despite our digitally-dominant culture, the truth is that people still prefer to shop in-store. Consumers, particularly millennials, tend to put a strong emphasis on experiences. And baby boomers still like seeing items in person before they buy. So, given these facts, what is the smart brand’s conclusion? Experiential. From innovative technology to providing a one-of-a-kind environment, there are many ways to transform “the traditional shopping experience into an experiential one.”
As event marketers, we love giving audiences the opportunity to taste, touch, and experience a brand. Many see brand experiences as separate from the digital marketing experience. Yet, this article argues otherwise. “Strictly speaking, a brand experience is about designing a sensory experience that brings a person into a lasting and meaningful relationship with a brand. What’s nice about this definition is that it doesn’t say “how” or “when” that relationship happens.” The article goes on to say that, “what we’re doing is creating and designing brand identities that aren’t strictly tied to physical spaces, digital technology or even senses. We’re creating brands that are experienced over time and in different ways.” Integration with digital lets brand experiences reach their full potential.
There is no doubt that event marketers are excited about, and regularly use new technologies. From engagement tech like virtual reality to data-driven tech that measures audience engagement, there is no shortage of options. One term that you might encounter while researching your next big tech investment is RFID. “RFID (radio frequency identification), and its cousin NFC (near field communication), both employ radio signals for all sorts of tagging and tracking purposes. In everyday life, RFID is used for things like pet security chips and motorway toll tags, while NFC can be used for contactless payment.” So how can this technology make brand experiences even better? Here are 5 ways that brands and organizations have used RFID to their events’ advantage.
Many brands have caught on to the fact that executing an experiential event in conjunction with an existing event is a terrific idea. Events such as Comic-Con and South By Southwest are experiential marketing havens, and so too has CES reached this designation. CES, or the Consumer Electronics Show, is an annual conference that is known as “a launchpad of tech innovation.” This event offers brands direct access to a treasure trove of targets. In fact, “this year the conference housed over 4,000 exhibiting companies and welcomed more than 180,000 industry professionals, 36%of them with executive titles. Nearly 70% of the Fortune 500 companies sent representatives.” Here is why experiential marketing will help you stand out.
Earlier this year we published this original article that detailed some of the top trade show trends of 2017. They covered 5 key elements to consider that can boost trade show efforts. These included technology, personalization, unique methods of engagement, and more. Now that the year is more than half-way complete, Exhibit Concepts is looking back at their top 5 trends with a new set of eyes. They go step-by-step through each trend, adding updates, new considerations, and more. Now that we are busy planning for 2018, this is a good opportunity to recap as well as think critically about the trade shows you have still ahead.
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Article source: Jessica successfully founded and was CEO of a leading experiential marketing staffing company throughout the US & Canada for 18 years, taking it from $0-26M before starting a new franchise venture with a YPO Partner and becoming a Professional EOS™ Implementer.