18 Exciting Experiential Marketing Statistics for 2020
Have you heard of experiential marketing?
If not, here’s the deal:
It is the type of advertising where companies make an effort to engage consumers and provide them with certain experiences. The goal is to create an immersive and memorable impact on the consumer.
It goes without saying that the experience should be positive and memorable and should have a positive effect on the consumer decision-making process.
By keeping up with the experiential marketing statistics and current trends, you’ll learn if this type of marketing works for you and your business needs.
Stunning Stats on Experiential Marketing (Editor’s Picks)
- 77% of marketers use experiential marketing as a central aspect of their marketing strategy.
- There is an 85% purchase intention and a 4:1 ROI after a good brand-in-hand experience.
- 60% of marketers say that reaching non-physical attendees on social media is crucial to event success.
- 64% of consumers say the exclusive discount is the most purchase-driving experience.
- 85% of consumers perceive a brand more positively if it cares about sustainability.
- 75% of B2B brand-side respondents capture data about the audience at the events.
Experiential Marketing Stats for 2019
1. 95% of marketers think live events create the best opportunity for in-person connections.
According to the statistics, events are one of the most used strategies in experiential marketing. So, it should not come as a surprise that 93% of event marketers claim that their company prioritizes hosting events and 95% of marketers think that live event is the best opportunity for creating in-person connections.
2. 77% of marketers use experiential marketing as a central aspect of their marketing strategy.
These events can be one-day seminars, product training, or VIP meals. They can be sponsored as an industry trade show or convention, multi-day conferences, or business partner events. This type of marketing showed very good results. According to stats on experiential marketing, more than three-quarters of marketers use it extensively.
3. A31% of marketers believe live events are the best marketing strategy, experiential marketing statistics reveal.
Although around three marketers in ten prefer live events over email marketing, digital advertising, and content marketing, the reality is that the experiential marketing strategy could not really work properly without emailing and social media. Email marketing is the most effective way of promoting events according to 33% of marketers, followed by social media, direct mail, printed and online advertising.
4. There is an 85% purchase intention and a 4:1 ROI after a good brand-in-hand experience
Experiential marketing facts show this is just the beginning of the operation since 60% of marketers agree that it is crucial to extend their effect beyond the live experience in some event. But if successful, a good brand-in-hand experience can reap massive rewards
5. 96% of event professionals use social media event marketing to increase awareness of their event.
Social media plays a very important role in experiential marketing, according to the experiential marketing social media statistics. The data shows that nearly all event professionals use social media event marketing to increase awareness. The best social media platforms for posting and sharing event content are Facebook, Instagram, and Twitter.
6. 87% of companies believe that event experience will be shared on social media.
One of the biggest advantages of event experience is sharing it on social media with other people. The vast majority of companies believe event experience will be shared on social media, reaching many more people than just event attendees. The experiential marketing strategy did not encompass analyzing and measuring social activity that much in previous years. In 2014, only 34% of companies measured it. But today, it is clear that the marketing landscape cannot be painted without social media.
7. 60% of marketers say reaching non-physical attendees on social media is crucial to event success.
There was a great shift concerning attendees. Before the rise of social media, it was expected from the audience to come to the event and see for themselves what is offered. According to the experiential marketing statistics for 2019, with the use of live streaming on social media, 60% of marketers report that reaching these non-physical attendees is vital. Nowadays, you have to bring the event to the customer, not the other way around.
8. 90% of marketers think that brand experiences have more compelling engagement.
The benefits of experiential marketing and their extent became obvious to brands in a very short time. When it comes to brands using experiential marketing, statistics show that nine out of ten marketers agree brand experiences can have more compelling engagement. Likewise, 91% of consumers say they have more positive feelings about a brand after attending some event and going through brand experience.
9. 65% of brands say experiential events and programs are directly related to sales.
According to the latest experiential marketing stats, 62% of brands do not charge consumers to attend their events. This is not a big problem since some consumers are willing to pay to experience a brand. About two-thirds of brands say these events and experiential marketing programs are directly related to sales.
10. 73% of consumers will spend more money and time in stores that are offering experiences.
Experiential marketing in stores is booming because the results prove this strategy improves sales and brand awareness. According to experiential marketing in stores stats, 70% of customers will shop elsewhere if the current shop does not offer any kind of experience. This will force 55% of retail executives to spend more of their marketing budgets on in-store experiences in 2020.
11. 64% of consumers say the exclusive discount is the most purchase-driving experience.
According to experiential marketing statistics, 85% of customers will more likely spend in-store after taking part in an event. If we ask what in-store experience will drive the most sales, we’ll learn that an exclusive discount takes the win. 64% of consumers claim that this is the most important experience. It is followed by food and beverage offerings with 30%, more personalized shopping experience with 18%, live product demonstrations with 18%.
12. Hosted events and event sponsorships increased by 30% in revenue last year.
Experiential marketing is on a steady rise because face-to-face communication between brands and consumers can create value like no other marketing strategy. Live events are definitely the most powerful tool in creating interest in consumers, so growth should continue.
According to experiential marketing industry growth statistics, last year both hosted events and event sponsorship had a growth of revenue by over 30%. So, many companies plan to spend even more of their marketing budgets on experiential marketing.
Just how many?
13. 53% of brand marketers expect an increase in their experiential budgets in the next 18 months.
This represents an average growth of 21%, but it is still a 3% decrease year-over-year.
14. There was a 3.4% experiential marketing budget growth at the start of 2019.
Experiential marketing growth is noted in the marketing budget spent on it in the first quarter of 2019. This trend continued in the future months. In fact, brands increased their experiential budgets after they saw their value and ROI. 67% of B2B brand-side marketers expect a growth in the budget over 2019 and 2020. This is a 17% increase from 2017, according to the growth of experiential marketing statistics.
The experiential marketing scene is not set in stone and it is constantly evolving. The trends are changing as marketers learn about the success of different strategies. On the other hand, new strategies are being developed that are reaching consumers and increasing ROI. Every marketer needs to keep up with the latest trends in order to get ahead of the competition.
15. 82% of potential attendees of events consider the location to be crucial.
Experiential marketing trends for 2020 suggest the location of an event is crucial for the vast majority of potential attendees. So, marketers should not be cheap when deciding on the location for the event. Live experience in events is just a part of the story. It is very important for an event to reach more than just live attendees, according to 60% of B2B brand side respondents.
16. 85% of consumers perceive a brand more positively if it cares about sustainability.
Current experiential marketing trends dictate sustainability, as the consumers are becoming more aware of environmental pollution and have a higher state of consciousness about preserving nature. Going green is never a bad choice, regardless of the industry.
17. Companies with diverse management teams have a 19% higher revenue.
According to the experiential marketing report, diversity is another important trend for this year. Companies with more diverse management teams have considerably higher revenues because of innovation and added creativity. Another important new trend is influencer marketing, which is taking huge steps forward as an experiential marketing strategy. Over one-third of B2B marketers claim influencer marketing has the most impact on their experiential strategy.
18. 75% of B2B brand-side respondents are capturing data about the audience at the events.
Besides influencer marketing, personalized experiences are still a top strategy for around 25% of experiential marketing professionals. What’s more, these experiences increase audience engagement at events. Three-quarters of B2B brand side respondents capture data about the audience at the events, so they can analyze it and adjust their experiential marketing strategies accordingly.
In order to create the best strategy for experiential marketing, you should do extensive research. Experiential marketing research is constantly advancing, and you have to be up to date with current trends. Data analysis is crucial if your goal is to define the winning experiential marketing strategy.
Q: What does experiential marketing mean?
A: Experiential marketing or engagement marketing represents a series of marketing strategies that are directed toward immersing customers in experiences connected with the product. This is done by engaging them in as many creative and positive ways as possible. The strategy helps customers to create memorable and emotional connections with a brand or a product and share them.
Q: Why is experiential marketing important?
A: Experiential marketing is very important because the traditional way of advertising with commercials does not work well anymore. People can skip commercials or just fast-forward them. On the other hand, people like new experiences and have an interest in products and certain characteristics of products. This is the best environment for experiential marketing because, by using it, you can create lasting connections with your customers and use strategies that are way beyond shopping.
Q: Why experiential marketing is the next big thing?
A: Experiential marketing is the next big thing because it speaks the language of Millenials, and they are driving the current economy. It has strategies to reach them in a way they prefer. It’s also a great way to increase brand awareness, and it offers some possibilities to set yourself apart in today’s dense competition. Additionally, by establishing authenticity, you are also building a positive reputation which increases customer engagement.
Traditional methods of marketing are beginning to lose their step following the emergence of the hot new trend of experiential marketing. This strategy is revelatory, opening new views and creating new, efficient, ideas of how to reach their customers.
Experiential marketing statistics show that consumers who participate in novel, interesting, and interactive experiences remember the brand for much longer. So, they are more likely to purchase and associate themselves with the brand.
Last but certainly not least, the good word goes far longer since consumers are willing to share their experiences with other people, which is widening the reach.