For many months now 'Experiential' has increasingly been THE buzz word in professional marketing circles. With so much net chatter and seemingly everyone being an 'expert' in what is probably the most dynamic and rewarding area of the marketing to present itself for a long time.So, what is Experiential marketing? What is all the fuss about? Does it really have any true value in these tough economic times?
After scouring the net, a multitude of blogs and too many industry forums; I have written my own. The challenge with anything exciting and new, is that words become jargon and misappropriated to describe activity which Experiential Marketing really is not; such as sampling or Brand Theatre - both of which can take place as part of Experiential Marketing activity, but on their own are simply what they are.
Taking a good look across the Marketing service providers and full service agencies, there are actually only a handful of true Experiential Marketing specialists (niche professionals) and only a similar amount of full service agencies with true experiential departments or skilled providers within them.
Definition:
Experiential Marketing is a directed, engaging, creative interaction between a product or service and consumer. With the purpose of enhancing, driving or directing the perception of the product or service and the objective of increasing sales or adding perceptible value to the product or service.
Maintaining creative edge in the full service agency environment, especially during recession induced budget contractions, becomes key to both the survival and development of market share, not just for the clients but for the agencies themselves. Some, but not all of the key London agencies have responded over the last few years by developing their Experiential divisions, with now the most sought after creative talents, in recruitment terms for full service agencies being Experiential.
Understanding Experiential marketing, and acquiring those skills for the successful agencies of the future will be key success factors in the coming months and years. Our clients have always wanted differential but now they need it more than ever, the absolute need to maintain or develop market share is the key driver today. The direct creative interaction between their product or service and there customer is what will drive their success and in turn, the successful Agencies. They need experiential marketing.
Delivering Experiential marketing activity, balancing the correct skill sets, combining: Creative, Production, Event Management and of course have the ability to pitch and sell experiential to clients is a challenge in itself, but possible for those agencies who look closely and choose wisely.
So when someone is buzzing the word Experiential, look and listen closely to what they are saying, because it will always be the doing that will matter, Experiential after all needs to be felt to be understood.
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