As the globe recovers from a pandemic, we are craving immersive experiences, which are another name for using outdoor marketing to increase brand loyalty. Having a good outdoor marketing strategy or field marketing strategy can actually drive sales.
The experience economy is affected by this; Coachella was bought out in minutes, airlines are full, and Disneyland is jammed. The companies that thrive in this big worldwide transition to an experience economy from an economy of things will need to change.
With the need to connect to other people with similar interests at an all-time high, experiences equal memories, and memories sell. After all, who wants to hold a box of things when they can hold a box of photos of the greatest moment of their lives?
Businesses are adapting their business strategies to put more of an emphasis on creating brand loyalty and experiences. In five years, brand experiences will likely generate more revenue for REI than product sales.
They’re doing more than just enhancing in-store services and expanding their educational offerings. However, they still go on large-scale camping expeditions, live events, and hiking journeys via national parks. Why not get the entire experience from the same reliable company that many customers appear to feel at ease purchasing gear for adventure and adventure?
Prominent companies construct brand experiences and field marketing strategies around their existing models while investigating new models to foster brand loyalty. In concept stores for brand experiences, many people are testing and refining.
As a result, they may continue to develop and acquire new insights even if the customer landscape shifts. Among them are:
These innovative shop designs are upending the conventional retail model and enabling businesses to create testbeds for consistent innovation and iteration. They are gathering marketing data and mining an intelligence vein to determine which experiences entice the upcoming generation of customers and which foster brand loyalty within their target audiences.
Consumer experiences will be the lessons these stores teach us today and will ensure these companies remain relevant. Experiences impact customer value.
Automobile manufacturers are joining the battle. Since the previous five years, new car sales have decreased by 15% globally, leading automakers to place a greater emphasis on lifetime brand growth and retention.
Brands that can create genuine emotional bonds with their customers are evolving into experience companies, which are growing and fostering customer loyalty.
Research indicates that social ties are essential. It’s not surprising, as it seems everyone needs to feel connected at some time or another.
If your company has not embraced experiential learning—this is the moment, as the experience industry is growing, and now most customers seek in-person interactions. As with any kind of interaction, begin with an experiment or pilot, set up success criteria, and have the system in place to track which experiences generate more revenue or turn new customers into brand ambassadors.
Experience investments should be optimized and iterated, just like any other digital or social networking campaign. You may create experiences and events that would draw in your target audience even if they don’t seem to be naturally integrated with your brand.
It might be a surprise that the cost of preparing and executing a field marketing strategy is quite similar to a social media marketing strategy. However, there are a few serious pros and cons for both types.
Field marketing allows people to actually see the product firsthand and try it before they use it or buy it for themselves. This is one of the best ways to connect with a customer. However, reaching out to people has become easier through social media marketing.
Let’s have a look at the cost and the effectiveness of both kinds of marketing strategies.
| Type | Cost | Effectiveness |
| Field marketing | Field marketing programs are expensive. There are different elements that you have to follow to ensure the brand looks premium. However, they can be made affordable if you know how to actually set it up. However, $12-$20,000 monthly in a market can help you drive your sales. | Field marketing is known to drive sales. With just one interaction, you can grab the audience’s attention and make a sale. They are also heavily targeted. If you are promoting a fitness product, all you have to do is go to a yoga class or a gym to promote your product. |
| Social media | Creating a few social media accounts for different platforms is quite easy and inexpensive, but you have to work hard for it. If you want your social media marketing efforts to work, you need a good social media strategy, good content, and an expert to manage the account. Having at least one person who will work full-time on these accounts is necessary, and this is where you have to spend. Trending topics on Twitter cost around $120,000, and if you want a sponsored story on Facebook, it will cost you around $800,000. | These days, each and every person has social media. You can try contest giveaways and present amazing content to people. You can reach out to a huge number of people all at once. However, there are different touchpoints that you have to follow to create a connection between your brand and your consumer. You must form a connection that will convert the viewers to your customers. |
Thinking about what your target audience is interested in and what would entice them to engage with your business is a wonderful approach to get started and linger over your brand. We need to change the language and analytics we use to govern our businesses if we want to shift from conversion to engagement.
Manufacturers think that the world is shifting away from outdated measures like revenue per square foot and toward experiential indicators of success like lifetime value, brand conversion, and loyalty. The companies that adopt this long-term perspective and have a good marketing strategy will be the ones to shape their respective sectors in the future.
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A self-proclaimed Swiftian, Instagram-holic, and blogger, Subhasree eats, breathes, and sleeps pop culture. When she is not imagining dates with Iron Man on Stark Tower (yes, she has the biggest crush on RDJ, which she won’t admit), she can be seen tweeting about the latest trends. Always the first one to break viral news, Subhasree is addicted to social media, and leaves out no opportunity of blogging about the same. She is our go-to source for the latest algorithm updates and our resident editor.
