What do these things have in common: pop-up bars, traveling buses, conventions, trade-shows, and seminars?
They are all valuable experiential marketing events that are catered to build brand awareness and interactive engagement. They’re social media worthy, provide the opportunity to network, and combine most – if not all – of the five senses. A stimulating positive sentiment is behind brand loyalty and the dollars behind experiential marketing events drives this point home (as does the ROI).
95% of marketers think that live events give the opportunity to form in-person connections (Endless, 2017).
77% of marketers use experiential marketing as a core part of their advertising strategy (EventTrack, 2016).
31% of marketers believe live events are the most effective marketing strategy over email marketing, content marketing, and digital advertising (Bizzabo Blog, 2018).
The most common hosted events are one-day conferences or seminars, product trainings, thought-leadership workshops, and VIP breakfast/lunches/dinners (The Event Marketing Evolution, 2018).
The most common sponsored events are one-day conferences or seminars, industry trade shows/conventions, business or channel partner events, and multi-day conferences (The Event Marketing Evolution, 2018).
Email marketing is the most effective marketing channel for promoting events with 33% of marketers choosing this over social media, direct mail, and print or online advertising (Statista, 2018).
60% of marketers agree that extending beyond the live experience of an event is imperative to the success of their strategy (AgencyEA, 2019).
2.Experiential Marketing Software Statistics
The event management software industry is valued at $28 billion (Bizzabo Blog, 2018).
86% of event marketers believe that technology has a major positive impact on event marketing success (Aventri, 2019).
68% of app developers surveyed said that demand in the event app space has increased since 2018 (EventMB, 2019).
40% of event technology adopters say the number one benefit is an improved ability to track and measure events (Statista, 2018).
87% of C-Suite executives believe in the power of live events and plan on investing more into them (Bizzabo Blog, 2018).
63% of marketers plan on increasing the number of events they organize (Bizzabo Blog, 2018).
40% of respondents say they’ll spend more on hosting events in the year ahead (Statista, 2018).
In the next 3 to 5 years, CMOs are expecting to allocate 21-50% of the marketing budget to experiential marketing (Freeman, 2017).
By 2020, the customer experience will overtake price and product as key brand differentiators (Chaos Theory, 2019).
Look out for the next generation of marketers
Millennials and Generation Z are stepping into the world of business and commerce, and traditional forms of marketing are getting a makeover. Face-to-face interactions between brands and their audience can create value that other marketing strategies cannot. There is no doubt of the power that live events hold or the unstoppable growth of its trend.
One thing to know for sure is that it is here to stay.
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Bianca is a Marketing Specialist at Parkey Dewey. After completing her degree in Public Relations at Columbia College Chicago, she previously was Content Promotion Specialist at G2. To take a break from everyday life, her adventures usually involve hiking in the mountains, attending music festivals, and eating great food.