To identify data and insights to prove that experiential marketing has reached its peak, and consumers want these branding events to be more exciting with added value. The data should show how many consumers are tired of the same events/activations, and how consumers would prefer brands spice up their events.
- According to a recent article by Forbes, experiential marketing is not slowing down anytime soon. The article went ahead to describe it as the "future of retail." About a third of CMOs surveyed reported that they would allocate between 21% - 50% of their budget to experiential marketing and experiences over the next several years.
- As reported by EventTrack, 84% of brands surveyed believe that experiential marketing is a crucial aspect of their overall marketing campaign.
- According to the same article, 91% of consumers leave with more positive feelings about a brand after attending events and experiences organized by such brands, while 85% of consumers are likely to purchase after participating in such events.
- AdAge, a top advertising and marketing platform, is of the opinion that experiential marketing may have reached its peak. This opinion was formed based on the belief that brands are beginning to focus more on their returns rather than creating a superb experience for the attendees.
- One area attendees of such events would like brands to improve is by encouraging voluntary participation rather than offering a rigid set of activities that may be uncomfortable for them. This simple courtesy has been observed to improve audience perception of brands offering such experiences.
Summation Of The Availability Of Information Relevant To The Goals
- In our initial hour of research, we were able to provide some stats and reports that show experiential marketing to be on an upward trend rather than spiraling downwards as requested, and we do not believe further research on this specific area would yield any additional results.
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