Experience marketing is showing off its power as marketers see its benefits.
“Experiences form the basis of all types of human relationships” (Experience Marketing Association, 2018). Marketers who recognize this will have the advantage of thriving in the digital era of social media and see sales gains for what they sell.
What accounts for the success of experience marketing? Dual factors are at work. One is a keen understanding of what drives behavior. The other is rooted in a cultural shift.
The fact that almost every purchase decision is ultimately fueled by functional or psychological needs gives experience marketing some of its greatest power. The nature of these experiences, whether anticipated or received, creates a consumer-to-brand relationship that can drive satisfaction, attachment and loyalty. Apple understood this when they created the Genius Bar and gave it prominence over a traditional check-out counter.
In addition, experience marketing is seen to be a growing trend due to the growth of consumers’ preferences for spending their money to enhance their living, rather than to have things. (Mintel’s 2015 Lifestyles report). Purchases of luxury goods to have are being replaced by trips to Indonesia to experience.
What does this mean for marketers? Start positioning your brand in an experience context…like, for example Lean Cuisine’s #Weigh This campaign.
