Many marketers around the world have plans to increase their usage of and spending on experiential marketing during 2008, according to a survey of marketers in the US, the UK, Europe, China and Australia, by Jack Morton Worldwide.
In fact, 75% of the marketers surveyed said that they planned to increase their spending on experiential marketing during the year. Of those planning an increase, half said they planned to spend 5%-10% more than in previous years, while 12% planned an increase of 11%-25%, and just under 10% planned an increase of over 25%.
Marketing significance
The survey found that the level of significance now placed on the marketing function by industry professionals has increased, with 70% saying that experiential marketing is "extremely" or "very" important to their organisation, and 71% saying that experiential marketing will become increasingly important in the future.
The survey came after a year of intense debate over the future of traditional and non-traditional marketing media, fuelled by the demand for new ways in which marketers can reach increasingly sophisticated and selective consumer audiences. Experiential marketing's ability to reach, engage and make relevant connections with audiences has contributed to its growth in that climate.
Highlighting this issue, 93% of respondents agreed that experiential marketing generates advocacy and word of mouth recommendations, while 92% agreed that experiential marketing builds brand awareness and brand relationships, and 77% agreed that it generates sales and leads.
Talk less, do more
The survey also identified a general need for brands to "do more and talk less", as 98% of respondents agreed that "brand experiences that deliver on brand promises are central to building commitment and loyalty", and 99% agreed that "what a brand does is as important as what a brand says".
Marketers also agreed that demonstrating a return on investment (ROI) on experiential marketing is a key area of interest and opportunity. Measurement was identified by respondents both as the main obstacle to their successful deployment of experiential marketing, and also as the main topic they would like to learn more about.
An executive summary of the survey, with comparative results by geography and industry sector, has been made available for download from Jack Morton's web site - click here (contact details must be supplied).
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