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COVER STORY 4 December 2011, EXPERIENTIAL MARKETING 22 Jury Chair “The challenge for the marketing team is to put in the effort and have confidence in building experiential marketing visà-vis spending on lazy media choices.” consumers multiply, the ability of a brand product/service to create an impact or an impression on the consumer minds becomes tougher. The traditional medium with its clutter makes it difficult to get cut through. Experiential marketing, given the extent of its potential impact, has formed a significant part of brand strategies over the last few years. The expansion of malls, multiplexes and other such avenues has led to a spike in the usage of promotional tools like kiosks, stalls, free sampling etc. With the organized retail sector also having picked up, experiential marketing has become a great platform for retail giants since their retail outlets themselves are an experience in itself for the consumer. Hemant Malik is the COO of Trade Marketing and Distribution for ITC Ltd. Since joining ITC in 1989, he has worked in the tobacco, lifestyle retailing and foods divisions of the company. What is the importance of experiential marketing as a medium of communication for a brand Experiential marketing allows customers to engage and interact with brands, products and services in sensory ways. Personal experiences help people connect to a brand and make intelligent and informed purchasing decisions. It involves actual customer experiences with the brand/product/service that drive sales and increase brand image and awareness. It’s the difference between telling people about features of a product or service and letting them experience the benefits for themselves. When done right, it becomes a powerful tool to win brand loyalty. However, the challenge for the marketing team is to put in the effort and have confidence in building experiential marketing vis-à-vis spending all money on lazy media choices like TV or print, since these are relatively easy to spend your money on. How has the role of experiential marketing as part of brand strategies increased over the last five years What can this increase be attributed to The role of experiential marketing has increased significantly over the last five years as mass media has been found out to work less and less. As the choices available to the What are your thoughts about the new experiential marketing organizations I find that these new organisations have come with a huge amount of creativity and have actually pushed the marketing teams to wake up to the reality. It has also been supported with the evolution of technology in the digital media (interactive websites & augmented reality) and the evolution of social media, increasing the reach and affordability of experiential marketing for brands. How have agencies/service providers in the experiential marketing space evolved What more can they do to partner brands more effectively The typical advertising agencies of yore are now no longer able to sustain a uni-dimensional model of churning out creatives for mass media. This has happened since the brand’s priorities have changed and the marketers have become increasingly cost conscious and aware of opportunities of direct consumer interactions through experiential marketing. So an O&M has extended into an OgilvyOne, and Lintas & Lowe branched into Linteractive and LoweLintas Direct to tap into the experiential marketing space. The typical <strong>BTL</strong> agencies too have been pushed to widen the base of services they provide to the brands. Apart from the typical events and road shows, their services now include customized brand activation programs, response management and CRM solutions for their clients. The agencies are also becoming more tech-savvy to tap into social media and digital opportunities available. As the experiential marketing space gained significance over the last decade, the agencies have evolved to find sustainable businesses models even within the niches of experiential marketing. There are now agencies which specialize in experiential marketing and then there are agencies which specialize in digital experiential marketing.
COVER STORY 4 December 2011, EXPERIENTIAL MARKETING 23 Jury Speaks “Experiential marketing is the difference between telling people about features of a product or service and letting them experience it.” Anuj Saxena is the Managing Director of Elder Healthcare and the Founder of Maverick Productions, besides being a prolific actor in the Indian television and Film industry. Dr. Anuj Saxena Managing Director Elder Healthcare Experiential marketing adopts a unique approach that integrates emotions, logic and general perception to connect to the buyer. It’s the difference between telling people about features of a product or service and letting them experience the benefits for themselves. When done right, it’s the most powerful tool out there to win brand loyalty. Experiential marketing seeks to tap into that special place within consumers that has to do with inspiring thoughts about comfort and pleasure, as well as inspiring a sense of practicality. This means that the marketer needs to have a firm grasp on the mindset of the target audience he or she wishes to attract. By understanding what the consumer is likely to think and feel, it is possible to get an idea of how to steer the customer in a direction that will relate with the product, and entice individuals to act on that impulse to purchase. So through this type of marketing a customer engages with key messages and walks away with a positive image of the brand and a desire to purchase from the company. “Agencies have metamorphosed from communication partners to partners in development of marketing solutions.” Vikrant Ramchandra has spent most of his 30 working years understanding and creating brands in over 30 categories. He is currently Vice President and Head of the Brand Marketing function of Tata AIG Life Agencies have woken to the new reality that brand behaviour is equally if not more important than brand communication. With this new reality, agencies have metamorphosed from mere communication partners to partners in development of marketing solutions. This is the new reality and agencies are transiting. The finest encapsulation has been from BBDO, that said, “Acts. Not Ads”. This has reflected in the kind of recommendations and the quality of recommendations that agencies make to enhance experiential marketing. Vikrant Ramachandra Vice President and Head of Brand Marketing Tata AIG Life
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