By Lisa Major
While traditional marketing tactics are a part of many marketing strategies, it is oversaturated space that comes with many challenges. That’s why many brands rely on engaging and in-person experiences to connect with consumers. Experiential is a proven and effective strategy, yet many brands are reluctant to try it because of several misconceptions surrounding it. This Happy Hour round-up features an article that debunks five common experiential marketing myths. We also offer tips for trade show marketers on how they can achieve their goals in 2023, and we’ll talk about experiential’s role in creating brand loyalty.
“More prominent brands typically have a more elaborate budget and can produce grand events, but no one said experiential marketing had to be a massive production! ” ~Lime Media Group
From innovative event technology to over-the-top experiences, there is a lot of hype surrounding experiential marketing. So much so that many smaller brands think this effective strategy is out of their reach – and budget. Fortunately, that’s not the case, and it is one of several experiential marketing assumptions that are, in fact, myths. In this article, Lime Media tackles and debunks five common experiential misconceptions.
“. . . in the burgeoning experience economy, we’re seeing brands flip this narrative to offer experiences first, knowing that loyalty will reign supreme and the payoff will be multiples higher than a one-time sales conversion.” ~Jonathan Yaffe & Daniel Yaffe, Adweek
Although it has been around for decades, experiential marketing is still considered by some to be the new kid on the block. That said, some brands are hesitant to invest, mainly because ROI isn’t as black and white as more traditional forms of marketing. But the ROI is definitely there in the form of brand loyalty – even if marketers can’t see it instantaneously. Brand loyalty is a powerful sales driver, and because of the rise of the experience economy – where consumers prioritize experiences over material things – brands are well-positioned to earn long-term loyalty through experiential marketing. Read on to see why experiential marketing is one of the best investments brands can make.
“Systematic planning, assessment and execution of your complete marketing strategy is the key to driving results from your trade show.” ~Exponents, Inc.
As the year comes to a close and trade show marketers look ahead to 2023 planning, it’s time to evaluate your efforts over the last year – the good and the bad. The new year is a time to start fresh, with new ideas and opportunities, and it’s also a good time to set new goals. To reap all of the benefits that trade shows offer, it’s important to have a clear and actionable plan in place, one that drives results and guarantees maximum ROI. Whether you’re new to the trade show circuit or a seasoned veteran, these SMART goals can help set you up for success in 2023.
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