(Newswire.net — August 2, 2018) — What is marketing? Is it as simple as printing a bunch of banners and putting them up wherever people can see them? Will the advertisement for a health and wellness yoga center work just as well in front of a kindergarten, as it will opposite a dietician’s clinic? Marketing has a lot to do with smart placement, choice of advertisement media, recognition of the target groups and the instruments of marketing that the brand uses to establish the customer touch points.
What is the truth about traditional marketing?
Traditional marketing has been around as far back as human history goes. Some form of it must have been prevalent even when the barter system was present in place of fiat currencies. Experiential marketing is the new celebrity in town. Instead of the conventional method of adding more glitz and glamour to the traditional methods of advertising including billboards and print ads, experiential marketing focuses on the emotions of the potential customer. For example – handing flyers out to the passersby at the Times Square is something that will never be noticeable or memorable. However, if you add a magic show where the magician vanishes in front of hundreds of spectators leaving behind flyers of the company only, that is an experience the viewers will never forget!
What is the truth about event marketing?
Event marketing is a form of live marketing that makes the products and services of a company tangible for the target crowd. Mobile events can include a brief tour of the inside of your store, a taste test and a glimpse of the product you are launching next week. Demonstration tests are standard for many brands, and you have possibly come across quite a few during the summer in NYC. They are common in the busy areas including subway entrances, near bus stops, in the locality of office buildings and near popular shopping malls. The idea is to attract the potentially paying crowd to the location of the event and giving them a taste of your USP.
Traditional vs. experiential: the everlasting battle
An easy way to understand the difference between conventional and experiential marketing is thinking of it as the battle between the old and the new. The type of marketing you pick does not have anything to do with the age of your company, but new brands with veteran competitors often benefit from choosing experiential marketing. Adding tangibility and emotion to their promotional events gives them the chance to stay ahead of their competition by a significant margin. It provides them with the opportunity of garnering a higher recall value than those relying on traditional marketing methods.
Additionally, the ROI on event marketing is much higher than that of traditional marketing. In fact, the return on the investments in print (newspaper) advertising has become one-third of what it used to be in the late 90s. Your business needs a stable platform that can catapult you to the pinnacle of recognition within record time without squandering your resources on a crowd that has minimal chances of converting.