Toronto, ON -- (SBWIRE) -- 09/10/2012 -- More and more companies are shifting the focus of their marketing departments to experience marketing schemes amid growing demand among customers to interact with products rather than simply observe them before purchase.
A recent study considered the marketing strategies of about 1,000 executives of marketing departments at leading companies in several sectors.
The findings indicate that among marketing executives about 30% plan to transition to experience marketing. About 28% have already done so.
Their enthusiasm for experience marketing is a response to an evolution in consumer behaviour in the crowded marketplace.
Customers are now so adept at detecting and interpreting ad-based marketing techniques that they are becoming immune to their effect.
In order to capture the interest of and engage a customer, companies must now harness their attention in a more meaningful way.
Executives are finding that by having customers interact with or experience a brand, companies are better able to tap in to their loyalty.
Long considered a nuisance by consumers, companies cannot afford to be dismissive of marketing and the changes taking place around effective techniques.
A significant portion of every company’s budget is allocated to marketing.
The study found that about 15% of corporate budgets are allocated to marketing, with about 25% of each budget allocated to event marketing.
The study also revealed that about 30% of respondents believed that event marketing provided the greatest return on investment.
Toronto experiential marketing companies have been particularly successful at adapting to changes in the marketplace.
By creating events where consumers interact with a product, Toronto experiential marketing companies are able to broker more meaningful relationships between the two.
Experiential marketing companies often host events including taste tests, test drives and interactive product demonstrations.
By engaging consumers face-to-face, companies are able to incrementally build interest in a product among consumers.
A customer’s overall awareness of a brand is also increased.
For example, through an interaction, consumers are able to see firsthand the value of a specific product and brand.
Research suggests that experiential marketing initiatives increase a consumer’s intent to purchase, often driving consumers online and to retail outlets.
When a consumer interacts with a product, professionals from Toronto experiential marketing companies are available to troubleshoot any consumer objections that arise.
The connection forged in those interactions increases the likelihood that a transaction will take place.
Experiential marketing is more effective than traditional marketing techniques because it deepens a consumer’s relationship with a product -- ultimately yielding a greater return on investment.
The author of this article is associated with Kognitive Marketing, an experiential marketing agency in Toronto with a proven track record of connecting consumers and brands.