How Experiential Marketing Increases Sales Volume From Current Channels
by Chris Clegg
– Bring new customers to the category
– Steal customers from the competition
– Get current customers to increase volume
It’s marketing’s job to do this. I just walked a Client through a 9 week, 3 market mobile tour recap deck that outlined exactly how the program accomplished just this.
The product was a consumer consumable. Current market share is low (less than 10%) and it’s positioned as a “Special Occasion” brand. Something you consume when the family is in town or you have the boss over for dinner. The problem is what to you do when you’re successful.
How do you re-position the brand as an “Every Day” consumable when you’ve spent so much time telling the world your “Special Occasion?”
It’s not uncommon for a brand to break into a market as “Special.” It’s a strong differentiation strategy and can get you a toe-hold when the incumbents are well established.
How Experiential Shifts Brand Perspective
From where I’m sitting, Experiential Marketing foots the bill quite well. We found that three-fourths (75%) of patrons who had never heard of the brand (62% of footprint patrons) believed it was an “Every Day” brand.
As a patron’s past awareness of the brand increases, so does their post-event believe that it’s an “Every Day” brand. We were able to clearly demonstrate that as the Experiential Marketing program builds experience with a brand, they are not only generating incremental purchase intent (80% leaving the event set saying they’ll buy) but also building a use consideration set conducive to regular use and thus increased sales volume.
We’re still working on the ROI but it’s looking like it’ll net out around 191%. Show me any investment that will return 191% and I’ll show you my checkbook.
Photo Source: http://flic.kr/p/8bxbnE