Benefits of using Experiential Marketing for your Next Campaign

Engaging consumers with all of the different media options available has never been more difficult. To ensure your consumers remember your brand with all of the marketing noise around them is a challenge every company faces. That is where experiential marketing can help.

Benefits of using Experiential Marketing for your next campaignExperiential marketing is a marketing strategy that involves direct face-to-face engagement with consumers in an interactive way. This strategy works most effectively in high traffic environments like retail and events.

So with a tight marketing budget, why would you consider this strategy for your next campaign?

Effectiveness

Traditional marketing strategies like digital marketing or print are essential for day-to-day marketing but nothing beats the interaction with a brand in person.

Consider this, the goal you want to achieve in the customer journey is a long term relationship. Meaningful relationships are established, developed and maintained far more effectively face-to-face than any other medium.

Stand out

As mentioned earlier, competing for your consumer’s attention is very difficult. Using experiential marketing is the perfect strategy to help you stand out.

When experiential marketing is done correctly, it is fun, interactive and engaging. Put the experience in experiential and you have a recipe for a memorable campaign that will allow you to stand apart from the competition.

Give your social media a boost

Trying to get your social media accounts for some fresh and exciting content? Nothing gives your social media a better boost than experiential.

Whether you want to get your consumers to interact with your brand on social or just simply post engaging photos and videos of your event, experiential marketing gives you the platform to get creative with your other marketing mediums.

Showcase your products and services

When your company launches a new product or service, the awareness and value proposition needs to be properly conveyed to gain maximum traction.

Everybody learns through different mediums. Some like to read, some like to listen, while others need that explanation from a real person.

Put together an interactive experiential campaign to allow your consumers to touch and feel your product or get a proper explanation of how your service can benefit them.

Generate sales and leads

Getting leads from social, print, tv or radio allows you to get a great reach, but at the end of the day, a trained professional will generate far more sales and leads vs any other medium.

Leveraging an opportunity at a high traffic event can generate sales immediately if that is what your strategy involved, but creating a memorable experience can still be enough to influence someone to buy in the future.

The various marketing strategies that your company currently uses are great for communicating, but the experience from experiential will get your consumers talking and those conversations will lead to loyalty, awareness and sales.


7 Reasons Social Media Marketing Is Still Underrated

7 Reasons Social Media Marketing Is Still Underrated

The numbers on social media marketing are impressive. More than half of small businesses in the United States are planning to increase their social media marketing budgets in 2017, and the number of businesses using social media marketing has increased, year over year, for more than a decade.

7 Reasons Social Media Marketing Is Still Underrated

Still, social media marketing remains underrated. Business owners and marketers frequently treat it as a second thought—something for an intern to handle, rather than a strategically deep mode of building your reputation and attracting new traffic. Some have even abandoned the idea altogether, refusing to spend any time or money on a strategy that nets a positive ROI for up to 92 percent of businesses that use it.

So what’s the deal? Why isn’t everyone on board with the strategy?

The "fad" angle

Believe it or not, some people still believe that social media—or its use as a marketing strategy—is still a fad just waiting to fizzle out. This is an argument I could have understood back in 2007 when social media platforms were only in use by a small percentage of the population. But now that Facebook has reached more than 1.2 billion users and is still growing, with a corporate foundation that rivals those of Apple or Google, it’s a hard argument to defend. Users have gotten used to the idea of socially interacting online, and platforms keep evolving in new ways to maintain their interest.

You get what you pay for

Psychologically, people tend to place more value on things that cost more money. For example, in a blind taste test of identical wines whose only difference is the price, people claim that the more expensive (yet compositionally identical) wine tastes better. Take this principle to social media marketing; it’s free to claim and build a business profile, and to post regularly (as long as you aren’t leveraging paid advertising). Because of that, people don’t value it as much as they do paid advertising. They’re also less likely to pay a professional to work on a social media campaign, knowing that—technically—anyone could do it for free (even if they never actually do it).

Unmeasurable effects

The return on investment (ROI) of social media is hard to measure, and I’ll be the first to admit it. One of your biggest goals is attracting a large following of people who are enthusiastic about your brand and improving both your brand’s reputation and brand awareness. These aren’t as objectively measurable as on-site conversions, but they can and do lead to greater consumer interest, which manifests as sales eventually. Trying to pin down an exact value for all these benefits is next to impossible, even for the pros, so the value of a social media campaign is almost always underreported.

Anecdotes

People also use anecdotal evidence as a basis for their opinions about the strategy. For example, they may know of another business that used social media and didn’t see any results, so they stay away from it in the present. However, these anecdotal examples often don’t examine the types of tactics these businesses used, and they certainly don’t represent the average across multiple businesses.

Related Story: How To Boost Your SEO Using Social Media

Apples and oranges

Ironically, these same business owners often cite the fact that anecdotal evidence can’t prove a strategy’s effectiveness for everybody. They point to major influencers or big businesses in the social media world and explain that social media works for them because it fits naturally with their industry, or because they have the resources to invest in a heavy campaign. It’s true that some industries may be naturally inclined to perform better on social media than others; tech companies and consumer-facing businesses are two good examples. However, social media marketing can be used by practically any company—it may just require an adjustment to your approach.

Poor targeting

Some businesses look at their own results and use those results as a gauge of the long-term potential of their campaign. But they may not realize that their strategic targeting is interfering with their results. For example, if you buy 1,000 followers using some super cheap follower-adding service, but only 4 or 5 of them ever interact with your posts or visit your site, it could be that the remaining 995 don’t belong to demographics relevant for your business, or that you haven’t been using the right engagement strategies to cultivate interest. Don’t underestimate the potential of a well-researched, strategically focused campaign.

Lack of investment

Effective social media marketing can’t be done on a whim. It needs to be planned, researched, and strategically executed. That means you’ll need to spend a significant amount of time or a significant amount of money to see results; and since many business owners aren’t willing to make that investment, they never see a fraction of their potential results. By that point, they’ve seen what a small investment does, and they’re unwilling to make the jump to a larger investment.

Social media marketing isn’t an “underground” strategy; it’s talked about heavily (and I should know), and there’s no shortage of content covering its feasibility and best tactics. But the perceptions of marketers and business owners are still lagging behind the evidence, and they’re only hurting themselves in the process.

The more you learn about the effective implementation of social media marketing, the more plainly beneficial it seems—but you have to treat it as a legitimate marketing strategy if you want to research it appropriately.

Article courtesy of www.forbes.com written by Jayson DeMers

Find out more about how Retailors Group can help with Social Media Marketing.


6 Benefits of Pop-Up Shops

6 Benefits of Pop-Up Shops

Temporary retail establishments have been growing in number, popping up on street corners, in shopping centers, at events, in airports, and more, as more brands begin recognizing the benefits of pop-up shops. There are a variety of pop-up stores, ranging from modular retail establishments to those housed in shipping containers; regardless of the format, there are several advantages in setting up a pop-up establishment:

Because pop-up shops are often temporary in nature and smaller in size than conventional retail stores, the cost of rent is usually lower. This is especially advantageous for new businesses that don’t yet have the funds to lease a more traditional retail space and, if necessary, have the option of closing down the temporary location to avoid more costs from a low-sales location.

Pop-up shops allow for a more selective approach to selling and marketing. Instead of being locked into a long-term rental agreement, the brand is only committed for a fixed period of time, which means the brand is more able to adapt to changes in its business and marketing plans. What’s more, a brand can open up a pop-up shop only when traffic and sales are expected to be high, and then close it down during the slower months.

One of the primary benefits of pop-up shops is that they help a brand generate buzz. Pop-up retail establishments are often fantastic marketing tools because they tend to draw attention from crowds. People are interested in the sudden existence of a store, especially if they look unique — for instance, a shipping container. As Robert Humble of HyBrid Architecture, a firm that designs shipping container projects, says, “There’s a certain built-in marketing cachet that [container stores] have that other businesses don’t.” Big brands such as Target, Levi’s, Adidas, and the Gap have used pop-up shops to generate buzz around a product or promotion.

The low-cost and temporary nature of pop-up shops allow brands to engage in test marketing new products and promotions to gauge future demand. Major companies like BMW’s MINI have opened up pop-up shops for this purpose, while smaller businesses have used pop-ups to try out a new business idea, such as Softroom’s ‘Wahaca Southbank Experiment, a pop-up Mexican restaurant in London.

A pop-up store’s temporary nature creates a sense of urgency among consumers to buy now. Unlike traditional retail establishments, the pop-up store itself is presented as a “limited-edition” item that people must take advantage of in the moment or regret their inaction later. According to the co-founder of Think PR Claudine Gumbel, “There’s a certain passion about things that shout ‘act now!’ and that has transpired into the way we shop too.”

Pop-ups allow a business to extend its brand and build awareness. For online businesses, especially, pop-up shops provide a way to interact with customers face-to-face and also educate them about new products, services, and features. This can be particularly beneficial for brands that have complicated offerings or want to capture a market segment that would not normally visit the brand’s site or buy from the company online. For example, Google launched a pop-up store in Australia last year, called Androidland, to introduce and educate customers on the Google Android mobile operating system.

There are many benefits of pop-up shops, and an increasing number of businesses today are jumping on board to try their hand at opening a temporary retail establishment. Uncover more temporary and mobile retail strategies by downloading Trend Hunter's Retail Trend Report and by accessing our PRO trends database for trends like Pop-Up Eats and Portashop.

Article was courtesy of http://www.trendreports.com written by Katherine Vong

Find out more about how Retailors Group can help with pop-up shops.