January 13, 2015
activitiesadvertisingadvocacyadvocacy drives growthbrandsbuzzconsumerscore valuesdecisionsdigitaleventevent marketingeventsexperienceexperiencesexperiential marketingFactory 360factory360growthlondon school of economicsmarketingmemoriespersonal experiencespositive word of mouthprinciplespurchase decisionsrelationshipsocialsocial identitysocial interactionvaluesvenuevideo contentword of mouth
One study by the London School of Economics proved that “advocacy drives growth.” Consumers tell stories of their personal experiences with brands to declare their social identity. In an age where consumers are more powerful when it comes to influencing each other’s purchase decisions, brands are constantly on the lookout for new ways to build positive word of mouth among their users.
With the increasing clutter in both traditional and digital advertising, brands are using experiential marketing to distort this clutter while strengthening positive word of mouth. How? Let’s look at some basic principles.
1. Capitalize on Your Values: The secret recipe is engraved in your brand’s core values. The more you capitalize on your values, the more salient the experience will be. Salient brand experiences are more likely to create conversational value. Make sure they stand out and provide a holistic vision of your brand. Consumers value clear objectives so convey who you are as a brand clearly.
2. Create Memories: Don’t just increase trial through sampling, but take the opportunity to build a meaningful relationship even after the event. Allow the consumers to self-actualize through activities. Provide useful keepsakes that can be used after the event.
3. Reach Beyond The Venue: The show must go on! Don’t end the experience but keep it moving after the event. By leveraging social interaction and creating video content, you can reach to millions of people who weren’t at your event. Creating buzz on social and digital spaces will enhance the value of your event for the participants as well; who wouldn’t want to be a part of an event that everyone is talking about?
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