The heart of successful Experiential Marketing lies in the longevity of the connection between brand and individual. But how do you measure the value of the time devoted to your relationship with your consumers? It requires going beyond surveys or referral campaigns, it requires ROI (Return on Investment) mechanisms to be built into the very fabric of the experience itself. This is not a one-off gimmick at a concert with boosted exposure on Twitter feeds and Facebook posts. This is a long-term relationship and must be treated as such.
Let’s play a quick role playing game – Brands, you are the men. You need a way to catch the woman’s (individual’s) attention. This is where that “wow” experience is critical. Emerging technologies like virtual reality (i.e. Oculus Rift), gesture-based technologies like the Microsoft Kinect and location-based technology like Apple’s iBeacons, are quickly being used to achieve that initial “wow” connection. As of this year, brand investment in augmented reality (AR) applications alone is expected to reach $1.5 Billion, according to Juniper Research.
Brands… say you’ve utilized one of those emerging technologies and now you’ve “got the girl.” Now what? Now comes the courtship. During this courtship, you still want to maintain that high level of interest that keeps them coming back for more. So what does this mean for brands who invest in that “wow” experience? It means you have to invest in experiences that can be repurposed because you want to play the long-game, not a one-off. For example, having an Oculus Rift at an event to allow individuals to truly immerse themselves in a brand experience creates an incredibly memorable impact. So why not extend the life of that impact and complement that experience with a downloadable 360º interactive video app that engages and informs the individual whenever the brand releases something new? Or why not create an online version, especially since YouTube will soon support 360º video? Don’t drop the ball after the “first date”, continue to engage your customers on an individual basis and they will be begging for you to meet the parents!
But you can’t stop there. Some say it’s impossible for most men to guess what’s going on inside a woman’s head, and the same could be said about a brand’s ability “guess” an individual’s true emotional connection throughout the brand experience. This is why building ROI measurements into the back end of the experience is critical to ensuring the long-term health of the brand-to-individual relationship.