EXPERIENTIAL MARKETING New Consumer Research
EXPERIENTIAL MARKETING New Consumer Research
“Marketing methods need to be innovative and inventive to keep current with the new realities of the landscape our clients compete in,” says Josh McCall, CEO of Jack Morton. “Experiential marketing offers a valuable strategy to brands that need new ways to reach their targets. Our research shows that experiential marketing is completely effective at influencing brand perception and purchasing decisions, and yet is still underutilized in reaching consumers.”
A white paper on the survey results is available online at jackmorton.com.
Overall, more than two-thirds of all consumers say experiential marketing would be extremely or very influential on their overall opinion of brands and products. Seventy percent say that participating in a live event marketing experience would increase their purchase consideration, and 57% say it would result in quicker purchase. However, 73% of all respondents had never before participated in a live event marketing experience, indicating an opportunity for marketers to differentiate.
While the influence of experiential marketing is strong across all groups, it is strongest among often-targeted youth and female consumers:
Nearly 80% of teens say experiential marketing would increase purchase consideration, while 65% say it would lead to quicker purchase
72% of 18- to 23-year old consumers say experiential marketing would make them more receptive to the brand/product advertising; 59% say it would lead to quicker purchase
60% of women say experiential marketing would be more likely to lead to actual purchase of a product/brand, vs. TV advertising (26%) and Internet advertising (14%)
84% of women say they’d bring family or friends to a live marketing experience, and 75% say they’d tell others about the experience—giving marketers a terrific opportunity to expand their reach and impact
74% of Hispanic women and 66% of Hispanic men would be more likely to consider purchasing a product after participating in an experiential marketing event
81% of Hispanic females indicated participating in a live marketing event would make them more receptive to future advertising
However, Hispanics are also the ethnic group most underexposed to event marketing; 78% of all Hispanics surveyed had never before participated in a live marketing event.
The effectiveness of experiential marketing was also tested against 14 product/service categories. In 11 out of 14, consumers said their preferred means of learning about new products/services was by experiencing it for themselves or by hearing about it from someone they know, as opposed to TV, radio, print, mail or the Internet.
Live marketing experiences were also shown to be a valuable way to increase marketing ROI:
75% of consumers say that participating in a live marketing experience would make them more receptive to the product/brand’s advertising
75% of consumers said they would be extremely or very likely to tell others after participating in a live marketing event , extending impact through word-of-mouth
8 out of 10 consumers who had actually participated in experiential marketing in the past said that they had told others about their experience
The research supports the value that experiential marketing brings to many companies. Spending on experiential marketing has grown to an estimated $166 billion in 2004, a 9% increase over 2003, according to an influential industry trade publication.
EXPERIENTIAL MARKETING New Consumer Research - To learn more about this author, visit Liz Bigham's Website.
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Live event marketing experiences where consumers interact with products, brands or “brand ambassadors” face-to-face are among the most effective ways to influence coveted consumer audiences, according to results of an extensive new survey by Jack Morton Worldwide. Comprising an online survey of 2,574 consumers, ages 13-65, in the top 25 US markets, the results confirm that this increasingly important marketing medium resonates strongly across demographic and product categories, with especially high influence among key groups such as women, young people and Hispanics.
“Marketing methods need to be innovative and inventive to keep current with the new realities of the landscape our clients compete in,” says Josh McCall, CEO of Jack Morton. “Experiential marketing offers a valuable strategy to brands that need new ways to reach their targets. Our research shows that experiential marketing is completely effective at influencing brand perception and purchasing decisions, and yet is still underutilized in reaching consumers.”
A white paper on the survey results is available online at jackmorton.com.
Overall, more than two-thirds of all consumers say experiential marketing would be extremely or very influential on their overall opinion of brands and products. Seventy percent say that participating in a live event marketing experience would increase their purchase consideration, and 57% say it would result in quicker purchase. However, 73% of all respondents had never before participated in a live event marketing experience, indicating an opportunity for marketers to differentiate.
While the influence of experiential marketing is strong across all groups, it is strongest among often-targeted youth and female consumers:
Nearly 80% of teens say experiential marketing would increase purchase consideration, while 65% say it would lead to quicker purchase
72% of 18- to 23-year old consumers say experiential marketing would make them more receptive to the brand/product advertising; 59% say it would lead to quicker purchase
60% of women say experiential marketing would be more likely to lead to actual purchase of a product/brand, vs. TV advertising (26%) and Internet advertising (14%)
84% of women say they’d bring family or friends to a live marketing experience, and 75% say they’d tell others about the experience—giving marketers a terrific opportunity to expand their reach and impact
74% of Hispanic women and 66% of Hispanic men would be more likely to consider purchasing a product after participating in an experiential marketing event
81% of Hispanic females indicated participating in a live marketing event would make them more receptive to future advertising
However, Hispanics are also the ethnic group most underexposed to event marketing; 78% of all Hispanics surveyed had never before participated in a live marketing event.
The effectiveness of experiential marketing was also tested against 14 product/service categories. In 11 out of 14, consumers said their preferred means of learning about new products/services was by experiencing it for themselves or by hearing about it from someone they know, as opposed to TV, radio, print, mail or the Internet.
Live marketing experiences were also shown to be a valuable way to increase marketing ROI:
75% of consumers say that participating in a live marketing experience would make them more receptive to the product/brand’s advertising
75% of consumers said they would be extremely or very likely to tell others after participating in a live marketing event , extending impact through word-of-mouth
8 out of 10 consumers who had actually participated in experiential marketing in the past said that they had told others about their experience
The research supports the value that experiential marketing brings to many companies. Spending on experiential marketing has grown to an estimated $166 billion in 2004, a 9% increase over 2003, according to an influential industry trade publication.
EXPERIENTIAL MARKETING New Consumer Research - To learn more about this author, visit Liz Bigham's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Joe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: http://www.business901.com Web/Blog: http://www.FundingYourNonprofit.com http://www.linkedin.com/in/business901 – Linked In http://www.twitter.com/business901 – Twitter - Visit Joe Dager's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) Jay Kubassek is a Canadian born entrepreneur, internet marketing genius, professional speaker, international real estate developer/investor, executive film producer, extreme sport enthusiast and a passionate supporter of several charities worldwide. In 2007, Jay's vision and dedication to help other entrepreneurs and business owners duplicate his marketing success led to the creation of his fourth company CarbonCopyPRO, an internet marketing firm already worth over 15 million dollars that has over 20 employees and contract workers with clients is 12 different countries. Jay resides in NYC with his girlfriend Jamie, three year old son Milo and dog Cooper. As executive producer he recently premiered his first film in the 2008 Cannes Film Festival. As an adventurist he is racing the 2008 Baja 1000 off-road race and is a member of the 2008 U.S. National Elephant Polo Team, The New York Blue who will be representing the US in the 2008 World Championships in Nepal. Visit Jay's Blog: www.JayKubassek.com - Visit Jay Kubassek's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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