A robust customer acquisition process is necessary for any healthy, booming brand. As a result, companies are always looking for new and innovative ways to appeal to in-market, high-value consumers. Harnessing the power of experiential marketing can help your company reach viable consumers. Here’s why.
The customer acquisition process is imperative to sustain your business and keep it growing. While customer loyalty speaks volumes, and a healthy business has a base of loyal consumers, companies mustn’t quit growing. Customer acquisition is all about attracting new, relevant consumers and getting them interested in whatever goods or services your company offers. These consumers should be high-value and in-market, too.
While every company has a different customer acquisition strategy, experiential marketing positively adds to any customer acquisition process. Wondering what the process looks like? There are several customer journey checkpoints that every brand should touch on.
First comes discovery. This occurs when potential customers are looking for products to address their needs. To do so, they evaluate possible options to satisfy that need. During this phase, a customer might visit a company’s website a few times. Their goal is typically to learn more about the product or service being offered.
After discovery, there is the consideration phase. During this portion of the customer acquisition process, there may be additional actions taken from a potential customer. These will further demonstrate their interest. For example, a potential customer might browse, sign up for an email subscription, and complete other research. This part of the process evaluates if the product will meet their needs. Lastly, there is the conversion stage. Consumers reach this when they make a purchase. This makes them a customer of the brand.
Experiential marketing is typically utilized as a tool to buoy long-term engagement and loyalty. However, it can also be used for other purposes. For instance, experiential marketing could be valuable for customer acquisition. Here’s why.
First, experiential marketing allows potential consumers to create a pleasant association with your company. If they have a positive experience with the brand when they interact with it in real life, this could result in increased purchase intent. Not only is this valuable the day of the activation, but it could also lead to future, online (or brick-and-mortar) purchases.
Because potential consumers have the opportunity to experience a brand rather than see or read about it, experiential marketing can be helpful for companies that are looking to establish their unique brand identity. In addition, this can prove beneficial for consumers are deciding whose products they are going to purchase in the future. Think of it this way: would consumers instead buy an item from a brand they have no connection with or purchase goods from a brand that provided them with a memorable experience?
Whether you create a hybrid experiential marketing campaign, or something entirely off-line or virtual, the key is ensuring that you are providing your target audience with an experience that they won’t forget. If you successfully do this and allow consumers to be in the room with your brand and products, you could find an outstanding return on investment.
Ready to craft an unforgettable brand activation for your business today? Reach out to Inspira Marketing Group to learn more about how we can help you make your vision a reality.
SOURCES:
How to Use Experiential Marketing for Customer Acquisition | Brax.io
The essential guide to customer acquisition | Epsilon
What Is Experiential Marketing and Why Is It So Critical? | Salesforce.com