Archive for February, 2015

Increase Your Bottom Line

Friday, February 6th, 2015

by Ginny Speaks

Marketing money is available in all kinds of areas and one that is holding its own at a steady growth rate is experiential via sponsorship spending. Total North American sponsorship spending is projected to rise 4% in 2015 to $21.4 billion. Are you getting your fair share?

If you are looking for ways to increase your bottom line this year, make it a priority to explore this avenue. Experiential marketing is also called presence marketing — when companies take their product or service out into the community to establish a presence and to engage with consumers at point of experience.

According to a new study conducted by Momentum Worldwide, live experiences with brands drives recommendations and retail purchase. In fact, the ROI with experiential marketing is strong — 65% of people who attended a branded live experience recommended a brand and 59% of people bought it at retail afterwards. Plus, consumers will actually search for more information online, post or tweet about it on social media channels and like it on Facebook after attending an event. Now THAT is audience engagement, which of course is a continuing key trend for brands.   They are challenged to engage the audience at the heart of everything that they do.

So the next question to ask is what type of events makes people feel the most positive about brands? Music takes the top spot, with sports coming in second and charity events placing third.   At music events, the biggest sponsorship spenders are beer, spirits and banks. To further prospect, look for companies that have launched new products especially with technology.

Technology allows brands to go beyond mere communication and use it to get closer to consumers, to understand them better and to use it to reinvent consumer experience.

Technology is affecting most major categories as seen at the Consumer Electronics Show earlier this year; categories such as Automotive with integrated dashboards, healthcare with mobile apps and on-line portals for communication with doctors, wearable’s, smart homes and even appliances.   Technology is changing how we communicate, how we purchase, and how we engage with brands across multiple screens.

So, take a look at your market, local events that you can connect sponsors with or create your own technology summit. Your imagination is your only limit, so THINK BIG, as on-site opportunities connect brands with consumers at the point of experience and provide a platform to entertain, educate, interact, and more.

Experiential marketing is full of revenue building opportunities and attracts companies and brands that are leaders in innovation. Be a leader in your market and explore experiential as it will increase your bottom line.