Why Experiential Marketing May Have Reached Its Peak
In the past, companies were less focused on value gained, instead using softer metrics like “brand perception” and “likelihood to purchase” following an event, according to Matt Sincaglia, VP of strategy and analytics at Alexandria, Virginia-based marketing agency RedPeg. Now, they’re more interested in harder analysis to determine ROI. RedPeg works with brands to look at short-term revenue, like ticket or product sales, as well as longer-term potential revenue. It derives this in part from consumer surveys about what kind of person is attending the event and if that person is already a loyalist to the brand. Companies are also measuring the visibility an event is giving them—how it’s spreading on social media and through word-of-mouth.
“Everyone is asking about the numbers,” says Sincaglia. “People are starting to really plant their feet and cement themselves and say, ‘That’s well and good, but what does it mean to our investment?’”
Head over to AdAge for the full article.