Today experiential marketing can be optimized on every level to increase the value of activations and lower costs. What makes it really shine is the ability to integrate every experience with a Data-Driven Enterprise Event Platform to extend the value of the experience. Here are Six ways that can happen.
- Eliminate paper forms for in-person data collection (think credit card sign up “barkers” at the mall) and efficiently extend the enterprise’s CRM mechanisms to consumers in the field.
- Control inventory and the cost of inventory (accomplished through algorithms that randomize and slow distribution of incentive/prize giveaways while augmenting the expectation of winning a prize or giveaway.)
- Increase brand impressions (through prizes optimized according to the smart algorithms discussed above as well as experiences with seamlessly integrated social media amplification).
- Increase brand engagement.
- Provide metrics and a framework to measure all events and activities including ROI on the event itself as well as value delivered to the wider enterprise.
- Improve economies of scale—when implemented at the enterprise level, and improve the business process of vendor management (ex. Agencies tasked with activating your brands).