A new survey of marketers released today reveals widespread plans to increase usage of and spending on experiential marketing in 2008.75% of marketers surveyed by Jack Morton Worldwide in the US, the UK, Europe, China and Australia affirm they will increase spending on experiential marketing in 2008. Of those planning an increase, half plan to spend 5-10% more than in previous years, 12% will increase spend by 11-25% and almost one in ten says they will increase spend by over 25%.
The global survey of almost 300 marketers revealed the level of significance now placed on the marketing function by industry professionals — 70% of whom say that experiential marketing is extremely or very important to their organizations, and 71% of whom report that experiential marketing will become increasingly important in the year to come.
The survey results come after a year of intense debate over the future of traditional and non-traditional marketing media fuelled by the demand for new ways to reach increasingly sophisticated and selective consumer audiences. Experiential marketing’s unique ability to reach, engage and make relevant connections with audiences has contributed to its growth in this climate. Highlighting this point, 93% of respondents agreed that experiential marketing generates advocacy and word of mouth recommendations — the ultimate “user generated content” in an era of increased consumer control and hunger for authenticity. 92% agreed that experiential marketing both builds brand awareness and brand relationships. 77% also stated that it generates sales and leads.
The survey also reinforced the need for brands to “do” more and “talk” less. 98% of respondents agreed that “brand experiences that deliver on brand promises are central to building commitment and loyalty”; 99% concur that “what a brand does is as important as what a brand says.”
Marketers agreed that demonstrating ROI on experiential marketing is a key area of interest and opportunity. Measurement was identified by respondents both as the #1 obstacle to their successful deployment of experiential marketing and as the #1 topic they’d like to learn more about.
