In a world where consumers are more likely to shell out for concert tickets than buy their favorite band's merchandise, there's no doubting the power of experiences.
Consumers today want a brand they patronize to enrich their lives, not just fill their closets or decorate their walls.
That's why brands were predicted to increase their spending for experiential marketing 11% in 2017—nearly double from just two years ago.
That said, to deliver truly transformative experiences, brands must challenge the traditional take on events and tradeshow exhibits.
We're entering a new generation of experiential marketing that considers cultural context, program timing, content development, and positioning within a brand's long-term business objectives.
Beyond the Tradeshow Floor
At my agency, we've noted a trend: Industries are taking experiences outside their core contexts—tradeshow floors, terminals, and hotels—and fusing them with other players to reach new markets of consumers. Consider the automotive industry, for example: In 2018, it'll move away from undifferentiated ride-and-drive events into broader-reaching experiential initiatives that integrate industries beyond the obvious markets.
Using better insights to expand your experiential efforts, you can go beyond the places your brand normally advertises and activates.