Experiential marketing is a great way to stand out from the crowd and create a memorable connection with individuals. However, calculating ROI and determining attribution can be difficult without the right analytics tools.
Descriptive analytics help managers understand what happened and why, giving them the confidence to make decisions based on historical data. There are four major uses of analytics for experiential marketing:
Customer Journey Analytics
While traditional marketing focuses on one-off campaigns, experiential marketing creates engaging experiences that connect with customers. To maximize the value of these immersive touch points, marketers must have a comprehensive analytics solution that eliminates data silos and delivers the end-to-end visibility needed to optimize for business performance. That’s where customer journey analytics comes in.
Customer journey analytics is a form of advanced data visualization that gives companies the insight they need to improve the customer experience. It helps identify and understand customer behaviors, sentiment, and satisfaction at every point in the buyer journey. It also reveals how marketing campaigns and digital channels are performing.
A retail bank uses customer journey analytics to discover the most common support issues customers have with their mortgage service. They use a visual, easy-to-read dashboard to see how many customers contact their customer support team regarding issues with TV and billing. The team then uses their data-driven knowledge to determine how they can reduce the number of calls and increase customer service efficiency.
Another benefit of journey analytics is detecting which marketing tactics are most effective at moving customers down the sales funnel. This allows marketers to focus on those tactics, like a lead magnet, email sequences, call-out banners, and sales landing pages that are most successful in aiding conversion. Then, they can continually improve these tactics to drive better results.
Event Analytics
Whether you call it experiential marketing, engagement marketing, event marketing or ground marketing, the goal is to create an experience that encourages interaction with your brand. It’s a great way to connect with consumers and form a strong bond. However, there are a few things to keep in mind when planning an experiential campaign.
A 2020 Salesforce study found that customers and prospects expect brands to personalize their experiences with them. This makes them feel special, like a brand is talking directly to them.
This type of marketing also enables you to build on customer relationships long after the experience. The content you produce can be shared on social media, repurposed in future campaigns, or distributed to your email database. This can help your brand grow even after the event, which is important because many experiences have a one-time only nature.
For example, during the ice bucket challenge, people recorded themselves pouring a bucket of ice water over their heads and posting videos online. This helped raise millions of dollars for Amyotrophic Lateral Sclerosis (ALS). While not every experiential campaign will go viral, it’s still possible to spread awareness and increase customer engagement through these types of events.
Hybrid events are another excellent way to engage with your audience. For instance, GE’s Healthymagination event featured a virtual reality experience that allowed attendees to visit places where their technology is used in healthcare, such as rural African clinics and urban hospital emergency rooms.
Analytics for Post-Event Analysis
An effective post-event analysis helps businesses improve future experiential marketing efforts. The process includes gathering feedback from event attendees and analyzing the effectiveness of the campaign on brand awareness and customer loyalty. This may include analyzing data from satisfaction questionnaires, interviews, and social media to determine how the experience met or missed its objectives.
The use of mobile devices in experiential campaigns allows consumers to enhance and share their product experiences with friends, family, and colleagues. The popularity of ephemeral social media mobile apps such as Snapchat reflects this trend. Consumers can capture images and videos of their product experiences with these apps, then instantly share them with others.
Experiential marketers can also incorporate digital components into their campaigns to measure metrics such as attribution, participation numbers, and ROI. For example, an automotive brand could host a virtual test drive using augmented reality technology to give customers an immersive experience without the need to travel to a physical location. Another popular example of this type of experiential marketing is Apple Stores, which offer customers the opportunity to try out different products in a physical setting before making a purchase. These types of campaigns are a great way to reach people who aren’t able to visit your physical locations or can’t afford to make the trip. In addition, they can be a useful tool for reaching people who live in remote locations. We also provide 3D modelling and 3D printing services.
