Though citizens across the country are more than ready for new normalcy to take hold, the unfortunate reality is that it’s going to be some time before large-scale live experiences are commonplace again. And even when they do, things will be different. In the meantime, brands have been adapting by creating virtual experiences that allow consumers to engage from afar.
In this time of extreme disruption around the world, companies and consumers are dealing with the previously unimaginable obstacles presented by COVID-19. From airline and hospitality giants to your local bar or restaurant, each has been greatly impacted by the spread of this disease. As experiential marketers, we, too, are grappling with our own set of challenges. Namely, how can brands facilitate connection – with and for consumers – during an indefinite period of time without live, in-person events?
Most marketers would agree that they’ve never faced as many challenges as they do today. Amazon, direct-to-consumer brands, and shifts in consumer behavior are making it more difficult for CPG brands to break through or retain market share. In fact, of the thousands of creative new product launches that occur each year, about 85% of them fail. Today, products are not just competing for space on the shelf; they’re competing for space virtually everywhere.
At a revitalized Boston Seaport that exceeds the square footage of New York City's Shops and Restaurants at Hudson Yards, direct-to-consumer brands are showing up in droves. With over 40,000 visitors per day, this 1.1 million ft2 space has proven to be the perfect landing spot for The Current, a village of pop-up DTC retail locations.
For the second consecutive year, our team had the pleasure of working with Jeep in bringing its Winter X Games sponsorship to life in Aspen, Colorado. The on-site experience at Buttermilk Mountain included an immersive dome experience that put fans in the front seat of a Jeep Wrangler as it embarked on an uphill, off-roading excursion through the extreme terrain of the West. Afterwards, guests were given the opportunity to get behind the wheel of real Jeep Wrangler and Gladiator models, enter sweepstakes to win Rossignol ski packages, and customize leather Jeep keychains with the GPS coordinates of their favorite adventures.
Last week, a number of Inspira team members made the trek into New York City to check out Showfields, the self-dubbed “most interesting store in the world.” While Showfields Co-Founder and CRO, Katie Hunt, made sure to point out that the tagline is partially tongue-in-cheek, there is a different quality to Showfields that separates it from your run-of-the-mill retail store. Located at 11 Bond Street in NoHo, Showfields is a retail concept that is designed to engage consumers’ sense of discovery through a revolving array of in-store brand experiences. Put simply, Showfields is a hub of experiential retail.
Experiential marketing has become an essential part of the marketing mix for brands looking to create one-on-one connections with consumers. After all, there’s no better way to get to know a brand than through a personal experience where consumers are given the opportunity to interact with products and services first-hand. Of course, experiential marketers understand that dwell time in the footprint is an important piece of the puzzle. From an intuitive level, the more time they spend with your brand, the more likely it is that a long-term bond will be forged.
If you've ever walked by a Cinnabon store and felt your mouth water from the scent of a freshly baked cinnamon bun, you've experienced just one example of the power of sensorial marketing. After all, the fact that their ovens are located front and center within the store is no accident.
With consumers increasingly prioritizing experiences over possessions in recent years, experiential marketing has entered the mainstream. From direct-to-consumer pop-up shops to mobile tours, each form of experiential offers brands a chance to create one-on-one connections with their intended audience.
According to CB Insights, the term ‘customer experience,’ as well as other variations of it, was mentioned a record 2,710 times during earnings calls in the third quarter of 2019. While this an abnormal statistic, to say the least, it speaks to the fact that brand executives are fully aware of the importance of experience in 2019. After all, the better experience you provide for the consumer, the more likely it is that you’ll retain their loyalty over the long run.