Posted by Stan Phelps on Tue, Aug 25, 2009
How much is an individual impression worth? It's one thing to look at cost/CPM, but how much is each single impression worth? Measurement is really in the eye of the beholder. If we assume that engaging the target audience and having them spread the message via "word of mouth" (WOM) is a byproduct of truly effective marketing, then it may make sense to measure the ability of an impression to spread positive word of mouth for a brand.
Looking at both ends of the spectrum: Broadcast media vs. Experiential marketing
Let's discuss broadcast media. Radio, print and tv are the predominant forms of broadcast media. It's a "one to many" approach where you have the ability to reach large audiences in a very short time and at a relative low cost. The problem is clutter. The average consumer is bombarded with thousands of messages a day. When was the last time you mentioned an ad to someone in conversation? Let's assume the following equation: Target Reach (40%) x Recall (12.5%) x WOM (10%) = .5%. This means 5 people out of a 1000 will spread your broadcast advertising message via WOM.
Now let’s look at experiential marketing. It’s a "one to one" approach whereby the consumer chooses to participate in an experience. It typically allows you to engage with consumers for a longer period, but comes with a high "cost per touch." There are no issues with clutter as you tend to have the full attention of the participant. Being able to create a meaningful sensory experience translates to 8 out of 10 participants who will share your experience via WOM. Using a similar equation: Target Reach (90%) x Recall (100%) x WOM (80%) = 72%. This translates that 720 people out of 1000 will spread your message via experiential marketing .
'Moving from the Information Age to the Recommendation Age'
We live in a "low trust" world. Consumers are inherently distrustful of advertising. Does this mean you should negate the reach of broadcast advertising and solely move to tactics such as experiential? Absolutely not. That said, your marketing should move towards activities that promote WOM. You need to get consumers to ‘vouch for’ or recommend your product. Experiential can be that platform for that dialogue. It can also be the platform to support other elements in the marketing mix: advertising, pr, sponsorship, online and retail. We believe at Synergy that the best experiential platforms are the ones that take a truly integrated approach.
Posted by Keith Green on Tue, Aug 11, 2009
One of the more powerful aspects of experiential marketing is the ability to engage a consumer in a live branded experience. Creating an experience allows you to stimulate all of the senses of your target consumer. The more senses you engage in a meaningful way should translate to a strong emotional connection.
When planning you should examine how to leverage all 5 senses. Here are some things to consider for each:
Sight - at Synergy we break down a sight by creating a SBV plan. SBV stands for signage, branding and visuals. Too often brands focus just on signage. Consider the overall environment with a focus on color, lighting and decor. TIP: Have a plan for both the exterior and the interior of the experience.
Hearing - first focus on the background sounds. What type of sound creates the ambience for the experience? Next look at the need to project sound. Do you need to communicate any key messaging? Who is speaking and what types of microphones may be necessary? TIP: Don't skimp on a sound tech if they are necessary and always have a backup microphone with fresh batteries at the ready.
Touch - Feel is one of the strongest senses. Design an experience where your consumer gets to utilize the product or service. TIP: Have fun with it by creating a challenge or contest.
Taste - Sampling can be at the core of an experience. Getting the basics right such as the serving size, the temperature and the presentation of the sample is essential. It shouldn't be just about slapping product into hands. TIP: Communicate your key messages (keep it brief to 7-10 seconds) before handing out the sample.
Smell - The sense of smell is powerful and the only sense that is hardwired to the brain. It's probably the one sense that is most neglected in experiential marketing. TIP: Think of smell as you would a background sound. Can you introduce any scents that would help set the stage for the experience?
Grpahic credit: www.symrise.com.
Posted by Keith Green on Mon, Aug 03, 2009
I know some executives at Life Lock, the company that helps protect your identify. I need to contact them because writers, bloggers and marketers have contributed to stealing the identity of the original “Mobile Marketing.”
Certain headlines and websites trumpet the pros and cons of “Mobile Marketing”. Just this week, I saw Ad Age touting a Mobile Marketing Guide media kit. Of course, the supplement is all about mobile phone marketing.
Given that Synergy Events plans and executes mobile marketing tours, (along with PR stunts, product launches and sponsorship activation programs) these types of things grab my attention.
Since we can’t stop technology and can only hope to contain it, perhaps those of us in the event marketing industry should come up with a new moniker for our Mobile Marketing. After all, while the future of Mobile Phone Marketing may be bright, companies are still spending billions each year on the original Mobile Marketing concept: mobile tours and experiential programs. And that’s with a sluggish economy and high gas prices.
Any suggestions out there? Perhaps when referring to cell phone advertising it becomes Mobile Phone Marketing and Mobile Marketing Tours are just that… “Mobile Marketing Tours”.
Mobile Phone Marketing may have stolen the identify of the original “Mobile Marketing”, but this is one case where technology will not make something obsolete: the event marketing industry-and the need for brands to connect with consumers on a one-to-one basis via Mobile Marketing Tours and experiential events- has never been stronger.
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