Definition of Experiential Marketing: -
Experiential marketing or live marketing is the most-interactive form of marketing strategy, which involves, direct participation of the consumer in the evolution process of a brand.
Event marketing commonly referred as engagement or participation marketing aims at involving the consumers actively in the production procedure, and marketing events building up a long term relationship with the brand effectively. The basic concept of this form of marketing strategy is to engage the consumers with a brand or a business organization so as to offer a real experience pertaining to the core value of the brand. Live marketing is a mean of building long time relationship, which must be renewed or enhanced with the passage of time.
Textbooks on Experiential Marketing: -
Examples of Experiential Marketing: -
In the conventional mode of direct sales, a salesman typically walks to an individual, and informs about the product or services they are offering. The individual thanks him and soon the salesperson typically involves himself in whatever activity the individual takes part. On the contrary, participation marketing is just the reverse case. In this case, the salesperson tends to participate only when he is asked for information and engages the consumers in active participation, rather than the passive reading of text messages or emails. They might ease a customer is deciding about a product, since the audiences are mostly eager to hear from the manufacturers, which should be presented meaningfully and interestingly before the audiences.
The best example can be stated from the marketing strategies of Jones Soda, where the consumers were asked to send photos regularly, to be printed on the soda bottles. This way, the consumers got engaged with the brand smoothly.
Another example is asking the consumers to send in reviews about the various flavors of soft drinks, which will be posted in their official website. This way, the customers inevitably take part in co-creating the product, as they are often asked to suggest the flavors they would like to have from the brands. Based on the majority of demands, a new flavor is to be launched, after declaring some of those consumers as winners of the contests.
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