Some companies shy away from experiential marketing campaigns because they don’t know how to measure marketing success.
Where can you get the ROI for something like a free product giveaway initiative at a concert? The good news is, using technology and being deliberate about your planning can actually make measuring certain aspects of ROI quite easy.
Discovering the Reason Why
First of all, what are you looking to do with your experiential marketing campaign? If it’s just that you want to jump on the bandwagon, this is your first problem.
Experiential marketing is a different way of looking at how you deliver your service and how you value your customers.
It’s a mutually beneficial way of marketing, where consumers don’t just support your product or service. They get something unique from interacting with your brand.
With that frame of mind, you’re ready to start thinking about the kinds of concrete advantages you hope your campaign will bring. It could be new customers, continued loyalty from existing customers, education about a new product, etc.
Collecting Data
Next, you’ll want data, which technology can give you. With social media, you can collect information about who is discussing your brand, what they’re doing, and even what their opinions are about your brand.
You can find out what exactly the customers are enjoying about the experience or disliking. Collect information from consumers so that you can even follow up to find out what those who interacted with your brand are doing later on.
Sales aren’t always easy to read. So while it’s obvious when you make a sale, it isn’t so obvious why that sale happened.
Study buying patterns before the new campaign launches, and keep track as the campaign continues and afterwards. Having the data of how things are going beforehand will help you incomparably to understand what’s happening as a result of the campaign.
Hire a Strong Experiential Marketing Agency
Have a strong experiential marketing agency on your side. An agency with the right experience and understanding will offer you help in making and keeping track of these measurements.
They will have a background in the best technology that your brand can afford to use. Their team will have the background knowledge to collect data and translate it into measures of success.
As a business owner, you’re right to have concerns about measuring your ROI before you go and try a different marketing technique. Coming up with creative ways to reach the right audience is half the battle.
You should always be ready to collect the data that will tell you if you’re doing things as effectively as you can.
But not knowing how to measure ROI shouldn’t scare you away from an experiential marketing campaign.
Otherwise, you could be selling yourself short of some serious advantages and letting competition sweep in and take away customers. Consumers want an experience, and they’ll support the brands that deliver it.
