Marketing News: How experiential marketing is making a comeback

Marketing News

How experiential marketing is making a comeback
According to research, over two-thirds (70%) of B2C marketers and a staggering 90% of B2B marketers have held a live, in person event in the last 6 months.

Experiential marketing helps brands and companies interface with customers to showcase their products and services, without having the expense of a high street presence.

For B2B marketeers, it’s more good old fashion ‘pressing the flesh’, getting their products and importantly, their sales team in front of potential customers. There’s nothing quite like the hustle and bustle of a conference sussing out the competition and ‘doing deals’ in the breakout areas.

And live events aren’t the only thing that are making a comeback! The latest IPA Bellwether Report reveals a growth in sales promotions and a substantial rise in direct mail. The report, based on polling those working at the coal face of advertising, found British companies expect live event budgets to increase by nearly 15% this year. The highest resurgence of all marketing disciplines.

So, just how are companies evolving their portfolios to solidify what looks like a permanent part of the marketing mix moving forward? What are the experiential marketing trends that are redefining the event landscape? And what should you be doing?

Safety in numbers
With the event sector set to grow from billions to be worth over two trillion by 2028, it’s interesting to note that most of those working in the industry think COVID is in the past with nearly two-thirds (67%) of event planners no longer concerned about it affecting their schedule and over half of event venues no longer having restrictions. That renewed confidence has turbocharged events.

Top 3 experiential marketing trends to look out for in 2023:

1. Hybrid events get the AI treatment

The rise of ChatGPT, augmented reality and virtual reality is expected to have a huge effect on the sector. Events companies are using tech to create hybrid events where digital participants feel that they are there.

Think the world’s largest concert or festival and you’re on the right track. Imagine the whole globe singing along to one song! And consider how the ABBA experience has brought the band back to life for many fans.

2. Pop ups get bigger and better

As confidence grows that planned events will go ahead, the industry is getting braver in putting money where their mouth is. And that means events are going to be bigger and better, particularly pop-ups.

A great way to showcase your products, pop-ups are getting more and more elaborate. One notable example from the USA is The Simpsons and 20th Century Fox collaborating with 7-Eleven to recreate the cartoon show’s iconic Kwik-E-Mart in outlets, much to their fans’ delight.

3. Event longevity

Conferences and seminars have always been a fantastic way for firms to establish themselves as thought-leaders in their sector. But a growing trend is for companies to use tech to keep the conversation going.

Nearly all corporate events are captured in some way through video. With the latest advances in digital marketing, all that captured content can now be diced and spliced cost effectively and repurposed for lead generation and other marketing.

Hosting an event
When it comes to planning your own event, the top tip is to have clear objectives. Research shows that getting business leads is the key success metric for 41% of marketeers, followed by reaching decision makers (32%) and promoting your business (27%).

And with pop-ups getting bigger and more creative, don’t forget 4imprint has all your needs covered when it comes to exhibition kit and promotional giveaways.

Companies’ total UK marketing budget growth hits one-year highIPA
The Events Industry’s Top Marketing Statistics, Trends, and Data Bizzabo
2023 state of experiential marketing study forecasts industry trends for the year ahead Agility PR Solutions
The 5 Experiential Marketing Trends That Will Redefine 2023 Metavrse
12 Experiential Marketing Trends for 2022/2023: Top Predictions You Should Know Finance Online