Brands could gain insight from experiential marketing
New research reveals the power of connecting social media with experiential marketing which shows how effective live experiences can be for a brand.
As more marketers question the value of social media, the research shows that when teamed with live experience marketing it can increase the propensity to purchase by half.
The return on investment for both social media and experiential is often called into question and both channels, I believe, are invaluable in getting to engage with consumers directly.
The research could also enable marketers to glean insight from live experiences via social media data in terms of the success of experiential campaigns. The insight could also be used to steer other brands looking the value in using the channel for campaigns.
The results of the study show an increased propensity to purchase with over half buying or planning to buy products and services. More than half (53 per cent) per cent will go on to make a purchase as a consequence, 54 per cent will look for further information online and 46 per cent will nip into a store to find out more.
The study, conducted by social media consultancy Immediate Future in partnership with brand experience agency Electrify included over 1,000 UK respondents and also shows that a third of people will write a positive review and 54 per cent will recommend the brand to a friend.
It is interesting to see the impact compared to other marketing activities. According to the report experiential is the likeliest marketing activity to be shared on social media (56 per cent), ahead of TV adverts (44 per cent) and newspapers and magazines (49 per cent), while only a third of respondents would share press adverts.
Marketers should team up more activity with social media not only for research purposes but also to show how successful a campaign linked with social could be.
It can also help link offline and online to build trust in consumers. For Kellogg’s, the brand awareness built through its Crunchy Nut ‘restaurant’ which toured shopping centres was extended by linking the activity on social channels.