There’s no doubt that the statistics speak for themselves when it comes to experiential marketing.
To create an effective campaign, it’s essential to understand what this type of marketing is and why it matters.
Let’s dive in.
What is Experiential Marketing?
Experiential marketing brings customers into your brand, engaging with it in a dynamic manner that brings your brand to life.
This form of marketing takes several forms, from in-store experiences to booths at events.
It’s all about engaging customers.
Why does it matter?
Let’s explore the nine statistics that answer that question.
The Experiential Marketing Statistics You Need to Know
- According to Statista, only 7% of consumers prefer TV ads to live events.
- Also, from Statista, 79% drive sales from events (a form of experiential marketing).
- 78% of millennials, according to Harris Group, want to spend money on experiences and events vs. other types of purchases.
- Hubspot notes that 65% of brands that use experiential marketing see a boost in sales.
- According to SEMRush, brands delivering positive experiences receive three times the word-of-mouth awareness of those that fail to do so.
- Big Eye Agency noted that 85% of consumers are more likely to buy from a business after participating in an event or experience, and 70% become repeat customers. (source, event marketer)
- Marketing Week notes that 48% of buyers are more likely to purchase if they can try a product first.
- Per Salesforce, 92% of consumers expect personalized experiences — you are falling behind if you don’t deliver.
- According to Bizzabo, virtual events are working, at least somewhat, with 58% of attendees attending the entire event.
Most of these studies were done before Covid-19 when everyone was comfortable traveling out and about for experiences and events.
But the world is shifting back to a more open environment, which bodes well for the future of experiential marketing.