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Three Reasons Brand Experience Is On the Rise

Three Reasons Brand Experience Is On the Rise

A look at why marketers are devoting their budget to events

The UK-based Bellwether Report from the Institute of Practitioners in Advertising (IPA) has found that +13.4% of companies registered increased marketing budgets during the third quarter of 2016 – the highest jump in more than two years, and up from +10.7% in Q2.

In positive news for our industry, event budgets performed the best of all marketing channels, recording growth of +9.9% over the period. This is the second highest rise ever recorded for the sub-sector, falling only behind Q2 of 2016, where spend came in at +13.4%.

Internet budgets followed the brand experience sector at +9.5%, and within Internet, search/SEO recorded a net balance of +7.3%, meanwhile direct marketing budgets were revised up to +4.9%.

On the other hand, reduced budgets were recorded among sales promotions (-4.0%) mobile (-2.6%), market research (-2.3%), PR (-1.1%), and ‘other’ (-6.3%). 

From Broadcast to ‘Connectcast’

Traditional advertising platforms broadcast brand messages to consumers – there is little room for two-way conversation. Marketing budgets are shifting as brands look to connect with their target audiences in more emotive ways, moving from broadcasting to a term I refer to as connectcasting – the point where brands are more targeted in their efforts to truly connect with consumers.

The Ever-Growing Influence of P2P and W.O.M

Peer-to-peer recommendations and word-of-mouth are more important to brands than ever. Audiences – especially millennials – are much more likely to purchase a product based on a friend’s recommendation, not by what a product has to say (or broadcast) about itself. People want to participate with a brand in their own way, and they can choose how they want to share that brand’s story. 

Immersive Storyworlds

Events immerse consumers in a brand’s storyworld – allowing them to experience its values, contributions and DNA first-hand. Direct interactions like these enable people to develop a unique understanding of, and relationship with these companies. Brand experiences encourage people to formulate their own opinions, as they offer a unique opportunity to become truly immersed in a brand.

Overall, I predict brand experience will continue to gain traction, as consumers become more active than ever, and marketers seek out new and interesting ways to engage their audiences.

The beauty of live experience lies in its ability to continually evolve and tailor its offering in line with the ‘wants and needs’ of different audience segments across the globe, in doing so creating deep and meaningful relationships with consumers, so that they not only invest in the brand story themselves, they advocate for that story and share it with their peers.  

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Jordan waid

Jordan Waid

VP, Experience Design International

His unique background of architecture, digital media, and film allows him to constantly challenge experiential communication models with fresh ideas that engage at all levels for some of the biggest brands on the planet. An inspired thought leader, Jordan’s creative vision, insight, and conceptual...

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