The Beatles really were spot on when it came to matters of the heart.
The Liverpudlian quartet had a string of hits that transformed the face of popular music, many of which revolved around the L word, including Can’t Buy Me Love and All You Need Is Love. They understood that love is a very powerful emotion; one that is essential to happiness and success, and can’t be bought. It’s the emotion that brands across all sectors are desperate to tap into.
Brand love is that most precious of things; a highly personal connection that can last for decades for those that go the extra mile to earn it. It should be the ultimate goal for any brand considering experiential. These statistics prove why.
1. 78% of millennials would rather spend money on a desirable experience than buy coveted goods (source)
Memories are everything in this life, and experiential marketing’s greatest strength is the ability to get people to sit up and take notice by delivering very special moments.
When it comes to live brand experiences, originality and innovation always pays off. Whether it’s a multi-sensory journey through the inside of a fridge or the chance to witness tigers in their natural forest habitat, experiential’s creativity paves the way for brand love.
2. 48% of event attendees say face-to-face interactions are more valuable today than two years ago (source)
With most of us now so deeply entrenched in the digital world, it can be easy to overlook the importance of the physical. But face to face interaction matters hugely, now more than ever. To build brand love, there’s simply no beating a bit of actual facetime. It’s the absolute best way to make a deep connection and tell the story of a brand.
Live brand experiences provide the chance to reach out to consumers on a highly personal level, get a true sense of what they’re feeling, and play an active role in shaping hearts and minds. Presenting a human face is particularly vital when looking to get across a sensitive or complex topic – so it’s little wonder that experiential marketing is now the UK’s fastest growing marketing channel.
3. 69% of millennials prefer brands that they know and trust (source)
Apple, Google and LEGO are Europe’s best loved brands, and they deserve to be. All three heavyweights have taken the time to build solid brand relationships consisting of loyalty, honesty, reliability, longevity and commitment. Above all, they’ve earned trust.
Trust is everything when it comes to business, but particularly for brands looking to tap into the desires of desensitised millennials who have grown up cynical of the media and expect nothing less than complete transparency from companies. Surprise and delight them, and you’ll be on the fast-track to winning their love.
4. 55% of millennials claim to be more brand loyal today, compared to 39% of consumers in the 35-and-older group (source)
It’s been reported that millennials spend almost 18 hours a day consuming media; a simply staggering fact. This always-on group are committed to learning and understanding the world around them, with many heavily guided by their peers; 51% of millennials say social opinions ultimately influence their purchase decisions.
Switched-on millennials proudly define themselves by the lifestyle choices that they make, and wrapped up in this are the brands and products they choose to interact with. This group has a lot of clout, so for brands that pull out all the stops to deliver memorable and magical experiences to consumers, there’s a big opportunity to secure long term love and loyalty.
5. 77% of millennials say some of their best memories are from an event or live experience they attended or participated in (source)
There is nothing more powerful than a positive word-of-mouth referral from a trusted friend, colleague or family member. The brands that understand this, and that invest in positive and immersive live experiences, reap the benefits.
In today’s ‘experience economy’ it pays off to build a genuine connection with consumers. Having now generated over 50 million brand conversations across too many events to count, we know that people want to play active roles in brand stories. Offer an unforgettable experience and create a feeling of involvement, and you’ll benefit from plenty of noise for your brand long after your event has drawn to a close.
Tell me more!
Download our free eBook, the power of brand experience, to find out more about how experiential marketing can build a strong bond between your company and your customers.
With nearly 30 years of marketing experience, both client and agency side, I’ve acquired a rare perspective on brands and business: I believe you have to challenge things creatively if you want to grow sales. Consumer technology is reshaping our world, and it’s only the great brands that stay on the crest.