The Value of Experiential: Measuring ROI
Digital marketing experts estimate that consumers see thousands of ads per day. This constant flood of ads has forced consumers to be much more selective in the content they choose to engage with.
While it may be easier than ever to target your audience through digital ads, marketers have to ask themselves whether or not their intended consumer is seeing the ad or, worse, finding it annoying rather than informative.
Increasingly, we’re seeing CMOs invest more of their budgets in experiential marketing and integrate it as a strategic part of their marketing campaigns.
While CMOs are investing in experiential marketing, they also want to make sure the dollars they’re putting behind these activations are generating measurable results for their brands.
Here, we look at a few ways experiential campaigns generate ROI.
Table of Contents
5 Ways Experiential Marketing Generates a Return on Investment
Live activations generate excitement, increase content generation, and improve awareness across the spectrum.
1. Experiential Marketing Creates Critical Social Engagement
Experiential marketing gives brands an opportunity to talk to consumers rather than just serve ads. The moment you’ve created in your brand footprint gives people a story they can share on their own – and they do!
Most consumers create digital content at events and experiences, and nearly all of them share it.
2. It Broadens Content Creation
While creating social content at experiences is clearly important to consumers, the opportunity for brands to create authentic video and social content that can be shared for other marketing campaigns cannot be overlooked.
3. Events Drive Awareness, Consideration, and Purchase Intent
Seventy-two percent of consumers say they positively view brands that provide quality event content opportunities and experiences, and 74% agree that engaging with a brand experience makes them more likely to buy products being promoted.
4. It Informs Product Development
The opportunity to engage with consumers to understand how they are engaging with your product and get real-time feedback can inform product development.
5. Live Events Expand Influencer Engagement
The excitement of live events gets influencers talking about your brand in a new way. Live events enable brands to foster a deeper personal relationship with influencers and provide them with more in-depth information about products that they can then pass on to their viewers.
Real-Time Analytics and Measurement Tools
Measuring ROI from experiential campaigns has come a long way. In the past, experiential measurement was fragmented: there was a lack of transparency with overall marketing efforts, insight mining could take weeks to months, and, when data was available, it was reported separately and not as part of the bigger marketing picture. Today, that has changed.
Inspira has developed an integrated methodology to experiential measurement that offers a full line of sight into local, regional, and national efforts, a unified data set across all channels – both digital and analog – and real-time measurement and monitoring so all stakeholders can adjust tactics relative to what’s performing best.
The net result is a program that continuously optimizes dollars and improves performance with each activation. And the results speak for themselves: across all campaigns, we show an average ROI of 288%.
Contact us today to learn how we can design an experience that offers measurable ROI for your brand.