Experiential Advertising Trend Statistics

Part
01
of two
Part
01

Attitudes Illustrating Shift Towards Experiential Advertising

Several consumer attitudes that show the shift towards experiential advertising are consumer preferences for buying products after experiences, consumers' improved product perceptions after an event, and consumers' enjoyment of experiences in general. Additionally, consumers' dislike of pop-up ads, video ads and more interruptive digital advertising in general highlights how such intrusive marketing practices are increasingly engendering strong disfavor.

CONSUMERS LIKE TO BUY PRODUCTS AFTER EXPERIENCES

  • Perhaps the most concrete indication of consumer preferences toward experiential advertising is the clear, consistent data that consumers are more likely to purchase products if they have engaged with them as part of a brand experience.
  • For example, according to brand experience consultancy, Event Marketer, 67% of consumers that participate in a brand experience will purchase the related products immediately following the event.
  • Additionally, between 74% and 85% of consumers who participate in a branded event are likely or more likely to purchase the promoted products, according to Event Marketer, marketing researcher, EventTrack, and marketing trade, The Drum.
  • Moreover, according to marketing researcher, EventTrack, 70% of consumers who participate in an experiential marketing event become repeat customers.
  • Overall, consumers appear to like to purchase products after participating in an experience, with almost half of consumers reporting that they more likely to buy a new product if they can try it first, according to advertising trade, Marketing Week.

CONSUMERS PREFER PRODUCTS AFTER EXPERIENCES

  • Another barometer which highlights consumers' positive attitudes towards experiential advertising is the level of consumer engagement during such events, as well as how consumers develop stronger, more positive relationships with products that are promoted through experiential marketing.
  • According to top-tier US outlet, Forbes, events and other forms of experiential marketing can "transform" and "elevate" the relationships between brands and their consumers.
  • For example, 91% of consumers report more positive feelings about brands after participating in related experiences, according to EventTrack.
  • Additionally, according to experiential marketer, Freeman, 9 out of 10 marketers believe that brand experiences create more compelling brand engagement for customers, while Event Marketer found that 65% of customers report that experiential marketing helps them understand products better than any other advertising method.
  • In particular, recent research published by the International Journal of Bank Marketing found that experiential advertising positively impacts the credibility of both advertisements and products.
  • Perhaps one reason for this change in product perceptions is the high level of consumer engagement during experiential marketing, with all most all (98%) of consumers choosing to create digital or social content at experiences and events.
  • Overall, the data clearly indicates that consumers prefer products after experiencing them as part of an event or other in-person engagement.

CONSUMERS VALUE EXPERIENCES IN GENERAL

  • Consumers also value experiences in general, and this preference for events and other in person engagement translates to positive perceptions of experiential marketing.
  • Notably, according to Event Marketer, one third of consumers have paid money to attend a brand experience, because consumers see value in attending events more generally.
  • In particular, millennials have a strong preference for experiences and experiential marketing, and strongly prefer experiential marketing to other forms of advertising, including digital media.
  • For example, almost all (96%) of millennials wanting to test drive a vehicle before making an automobile purchase.

CONSUMERS DISLIKE POP-UP ADS

  • One example of consumers' negative attitudes towards interruptive advertising is the level of consumer resentment towards pop-up ads.
  • In contrast to consumers' favorable perception of experiential advertising, pop-up ads have a 73% disapproval rating with consumers.
  • Additionally, 81% of people report having closed a web page because of a pop-up, and 89% agree that pop-ups are "really frustrating to deal with" when they can't easily be closed.

CONSUMERS DISLIKE ONLINE VIDEO ADS

  • Similar to pop-up ads, consumers also generally dislike interruptive advertising in the form of video ads.
  • Overall, 57% of consumers report a significant level of dislike towards video ads, while 82% of people report that they've closed a web page because of an autoplaying video ad.
  • Moreover, 51% of consumers view brands less favorably if they use autoplaying online video ads.
  • Meanwhile, non-skippable video ads are the "most hated form of advertising" for adblock users.

CONSUMERS DISLIKE INTERRUPTIVE, DIGITAL ADS IN GENERAL

Part
02
of two
Part
02

Experiential Marketing ROI

Marketers can track ROI on experiential marketing/advertising by first defining the main campaign objectives, looking at sales volume and trends, and tracking customer engagement. Below is a detailed overview of the best practices for measuring ROI on experiential marketing/advertising.

Define Main Marketing Goals

Sales

  • Sales are the most obvious way to measure ROI from experiential marketing. A recent study shows that 65 percent of brands that use experiential marketing agree that it positively correlates with sales.
  • However, this method may present a challenge as it is hard to attach a sale to a particular campaign. However, using sales, a marketer can establish links and patterns in the buying behavior of customers.
  • Tracking sales is a great way to understand how successful an experiential marketing campaign has been. In addition, it offers advice and tips on the best way to do things depending on the type of campaign at hand.
  • One way that a marketer can track sales during an event is selling the product close by. This gives a clear indication of how much the product sold at the event as well as a picture of how popular the product is.

Track Customer Engagement

  • Social media offers huge marketing opportunities and should be a major consideration for any experiential campaign.
  • Companies track every thing from hashtag usage to brand mentions to see who is talking about them and the topics being discussed.
  • Social media enables marketers to gather feedback from customers by measuring their experiences and engagements.
  • Furthermore, social media allows marketers to collect customer insights, feedback and perception of the brand.
  • To better measure engagement, marketers needs to study customer actions like opening a marketing email, posting an online review, visiting the website, referring the brand or downloading its mobile app.
  • This method offers marketers with a long-term and comprehensive measurement of the consumer’s total experience with the brand as well as their level of satisfaction and engagement.

Research Strategy

We managed to get the best practices for measuring ROI on experiential marketing/advertising from various online sources. We selected the best practices from those that featured in multiple credible sources.
Sources
Sources

From Part 02
Quotes
  • "Marketers often don't have clear objectives when they create a new campaign. Defining your main marketing goals at the start of your project will help you separate what's important from what's not."
Quotes
  • "Due to the growing events industry and advances in technology, there are several recognized metrics to determine the ROI of a campaign. Start by clearly identifying program goals and which metrics will measure success and workforce ROI. "
Quotes
  • "Perhaps the most obvious way to measure the success of experiential marketing is through sales. However, this is a little easier than it sounds. After all, how can you tell that a sale was the direct result of seeing your campaign? The truth is: you can’t. But you can spot trends in your customers’ buying patterns and that’s perhaps the best, and closest indicator you’re going to get."