Consumers no longer just purchase an item solely for its benefits. There is so much competition in the market that they find the same type of product without much complication. That’s why experience marketing is so important.
What is experience marketing?
Compared to traditional marketing, which focused on the advantages and characteristics of a product to reach customers, a new model now emerges. Experience marketing has as its main focus the consumer’s own experiences and emotions with the brand. And, also, achieve a deeper connection with her. In this way, the relationship between the company and its public will be stronger and more lasting.
Likewise, although at first it may seem like a lot more investment, reality tells us that loyal customers, apart from being the greatest financial support of a company, end up spending more money on its products. And we must not forget that they become the best salespeople a company can have. In short, the greater the power of loyalty, the greater the profit. And experience marketing is a good way to achieve this.
The strategy of companies: Starbucks, Ikea and Coca Cola
There are many examples of businesses that are using this marketing model. It is based on three key points: having the ability to involve the consumer, make them feel something unforgettable and offer them a clear benefit.
1. A good example of this is the strategy of the Starbucks chain. The coffee costs at least 3 euros, compared to 1.20 that it can cost you in any other establishment. And yet, it is always packed. Because? Starbucks has been able to exploit, in a more than saturated market, the stimulation of the senses. A place where people who come feel at home through the music, the smell and the treatment received.
2. Another case would be that of Ikea, who dared to organize a pajama party in the store itself. In addition, as if that were not enough, the experience also included body care sessions, the use of beds and different items from the establishment, or the waiter service. A good initiative that serves to strengthen ties with consumers.
3. Coca Cola has a long history in experiential marketing. One of the most impressive advertisements was the famous happiness ATM. In it, people could withdraw 100 euros for free in exchange for sharing it with other people. In this experience, it clearly focuses on the philosophy and values that surround the brand. What’s more, at no time does the product appear, as is usually the case in commercial advertisements.
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