Amongst the ever-growing digital landscape, companies are focusing on experiential marketing to connect with consumers, a new study suggests.
Gradient, a New York based marketing agency, published a data-proven insight explaining the shift towards experiential marketing.
Out of the study’s sample, 80% of companies have increased their experiential marketing budgets so that they now account for 10-30% of their overall marketing spend.
Looking specifically to financial services and Real Estate, over 75% of companies asked reported an increase on experiential spending.
Immersive marketing strategies are increasing in popularity as consumers are favouring a memorable experience over traditional marketing methods. Experiential marketing creates the opportunity for brand interaction to occur in a real-world setting.
Pauline Oudin, CEO at Gradient explained how this emerging approach may deepen consumer to brand relationships.
“Today’s exciting technology within experiential marketing gives consumers the chance to connect with a brand on a whole new level – building stronger and longer-lasting customer relationships, be it physical, digital, or somewhere in between,” she said.
For instance, pop-up shops, product demonstrations, events, and branded experiences are all examples of an experiential marketing approach.
Gradient’s research also showed that 72% of marketers feel they are missing out on opportunities by failing to integrate experiential marketing more holistically as part of an overall marketing strategy.