After years of leaning into performance marketing, the landscape is once again shifting to in-person experiences. According to 2023 Forrester research, more than three-quarters of marketing executives are returning to experiential marketing to educate, engage, and build trust with consumers.
Music festivals, such as Coachella and Lollapalooza, and food experiences, like the New York City Wine & Food Festival, are a natural fit for brands and prime opportunities to build brand love.
Here, we look at how consumers feel about events and the impact that participation has on brands.
When asked if they would be attending more events this year over last, all generations raised their hands.
63% Gen Z
61% Millennials
52% Gen Z
42% Boomer
Despite financial cutbacks, Americans will spend to attend live events.
How consumers prioritize event ticket spending:
Essential High/Moderate Low/None
11% 58% 31%
Festivals and events build communities that brands want to be a part of.
65% said attending events make them feel less lonely
55% said that events sparked feelings of connection
41% said events make them feel part of a community
Consumers who engage with branded experiences at festivals and events are:
71% more likely to remain loyal
75% more likely to spend more with the brand
81% more likely to recommend the brand and its products to family and friends
Sources: Forrester Experiential Benchmarks 2023, Eventbrite 2023 Event Trends Report
This article has been published in the Association of National Advertisers (ANA) Marketing Knowledge Center. Click here to visit their blog.