Vadim Kotelnikov    

Experiential Marketing

Giving Before Asking

   

Business e-Coach  Perconal Icon of Vadim Kotelnikov  Kore 10 Tips


  

Let people experience features, benefits and unseen intrinsic value of your new product or service.

 

Benefits of Experiential Marketing

  • Greater and deeper impact on the prospective customer

  • Increased effectiveness of advertising

  • Cost saving relative to traditional advertising and marketing techniques

 

 

Knowing Customers

What Makes People Buy

 

Creating Customer Value

10 Lessons from Konosuke Matsushita

How To Build a Customer-focused Website

Value Innovation

 

Differentiation Strategy

Brand Management  >> Good Practices

Logo Design: Top 10 Tips    Logo of Ten3 Business e-Coach

4 Steps of Your Differentiation Strategy

Blue Ocean vs. Red Ocean Strategy

Differentiating With Different Types of People

Positioning    10 Tips    10 Commandments

 

Marketing Strategies

Core Marketing Message    Unique Selling Proposition (USP)

Emotional Marketing  >> Success Stories

Relationship Marketing

Credibility Marketing

How To Market Your Website Effectively

Customer Engagement    Top 10 Tips

Sales Presentation    Impactful Presenter

Advertising    Advertising Slogans

Marketing To the Subconscious

Empathetic Marketing  >> Success Stories

Marketing Strategy Mix

Buzz Marketing  >> Success Stories

22 Laws of Marketing

Experiential Marketing Defined

Experiential marketing gives customers in-depth experiences with products in order to give them enough information to make the purchase decision.

Sell Benefits

Selling Is Problem Solving

Experiential marketing refers to actual consumer experiences or interactions with products for the purpose of driving the sale of that product i.e. marketing not merely the consumer seeing an idealized experience in a TV, print, or radio ad. Experiential marketing is the difference between telling people about features or benefits within the confines of the thirty-second TV spot and letting them experience it and get their own "a-ha!" event.1

Virtuoso Marketing

Why Experiential Marketing?

"I hear and I forget. I see and I remember. I do and I understand." ~   Confucius

The best way to communicate to potential buyers the value of a product is to let them experience it. Creative experiential marketing, when applied correctly, will lead to greater impact for the consumer, increased effectiveness for the advertiser, and even cost savings relative to traditional advertising or marketing techniques.

Synergistic Selling: 3 Components

Success Stories Best Business Practices IKEA Hotels

Given the commoditized status and lack of differentiation of many hotel chains like Hampton Inn, Fairfield Inn, Red Roof Inn, etc., imagine if a particular chain partnered with IKEA to decorate their rooms with simple, clean and comfortable bedroom furniture. This fact alone would give that hotel chain a significant point of differentiation. The hotel chain also gets the economic benefit of furniture at prices that are even better than wholesale prices on generic furniture. IKEA gets significant "consumption-experience level" exposure to target customers at a fraction of the expense of TV ads.

 

 

Consumers get to experience IKEA furniture "in action" which undoubtedly would give them enough first-hand experience information to make future purchase decisions. Finally, some creative "consumer insights research" opportunities can even be built in, such as allowing visitors to select from among differently decorated IKEA hotel rooms and tracking such decisions to gather which items are most popular or even how to make IKEA's in-store bedroom sets more appealing. In summary, both the hotel and IKEA achieve "experiential marketing" which drives greater marketing effectiveness (i.e. hotel chain differentiates themselves from others; IKEA lets customers actually experience their products prior to going to a store), delivers a more impactful experience to customers, and even reduces costs for both parties.1

 

References:

  1. "Experiential Marketing", Dr. Augustine Fou

  2. Customer Success 360, Vadim Kotelnikov