how much does experiential marketing cost

how much does experiential marketing cost插图

Between $25,000 and $250,000
Experiential marketers will create a campaign by doing the following: How Much Do Experiential Marketers Cost? Experiential Marketers typically costbetween $25,000 and $250,000,depending on the size and scope of the project required by the company.

What is experiential marketing and how does it work?

Experiential marketing has come a long way since then. It takes numerous forms, with permanent installations, pop-up activations, and B2B conferences being the most common. The purpose of any experiential marketing campaign is to facilitate personal interaction between a potential customer and a brand.

What are the Best Experiential marketing campaigns to date?

In addition to the examples of Coca-Cola and Google discussed earlier, let’s delve into some of the best experiential marketing campaigns to date. In addition to being one of the top car companies, Volkswagen is known for its creative and innovative marketing campaigns. The company has constantly extended its brand beyond the automotive industry.

How do I start running my experiential marketing campaign?

Once you have activated your touchpoints, you can start running your experiential marketing campaign. It’s essential to keep tracking your campaign’s performance based on the goals and metrics you identified earlier. For instance, if your goal was to increase brand awareness, you can keep an eye on elements like:

What is the ROI of experiential marketing?

That said, the ROI of experiential marketing campaigns is generally high. Almost 50% of brands that invest in experiential marketing see an ROI between 3:1 and 5:1, while 12% of brands see an ROI of around 20:1.

Location, Location, Location

A staggering 82% of potential attendees say their decision to attend an event is influenced by its location. Whether it’s a rooftop pop-up store on an underwater product showcase, location is paramount for experiential marketing. And of course, the location must be chosen strategically to ensure it aligns with your branding.

How Big Do You Want to Go?

A successful experiential marketing campaign is first designed with growth and scale in mind. In the early planning stages, you should evaluate how the overall activation can be scaled up or down.

In Your Own Hands or Working With a Third-Party

Taking matters into your own hands might seem ideal at first but it’s no surprise experiential marketing costs more when you have to purchase all the equipment, graphics and tech by yourself. Although you have a full overview of the process, you might not have everything required to make your experiential dreams a reality.

Get the Experiential Marketing Playbook

This guide has everything you could possibly need, from the benefits, tips on running your campaign, examples you can take inspiration from and loads more.

Metrics

Now we understand what we aim to achieve and how we aim to get there, we must decide which metrics measure this most effectively? I.e. Which metrics can demonstrate that your problem has been solved.

Measuring The Measurements

Now we understand the kind of metrics involved in calculating experiential ROI we must discuss the tools used to capture them:

The Takeaway

By now you should have an understanding of: what goals to set for a campaign, the process of event reporting, the metrics from which ROI can be calculated and the tools used to measure them.

What is the purpose of experiential marketing?

The purpose of any experiential marketing campaign is to facilitate personal interaction between a potential customer and a brand.

How many consumers consider a good customer experience to be the key to brand loyalty?

In fact, more than 70% of consumers consider a good customer experience to be the key to brand loyalty. And here’s where experiential marketing comes into the picture.

How many drones did Sujo Unims fly?

Remember how Sujo Unims, a Shanghai-based company, flew 1,500 drones to allow people to access their games?

How high was the skydiving jump?

The brand partnered with the professional skydiver Felix Baumgartner, and the jump was from an altitude of 128,000 feet, thereby breaking the world record.

What do we love to share?

As humans, we love to share our experiences, both good and bad.

What can experiences be used for?

Furthermore, the experiences can be utilized for content marketing, user-generated social content, and filming commercial ads.

How many consumers create digital content?

Research from EventTrack shows that 98% of consumers create digital or social content at branded experiences, while 100% of them share that content.

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