As consumers and shoppers become increasingly mindful of their budgets, a report shows that event and experiential marketing programs are having a larger impact on purchase decisions. The newest EventTrack report for 2014 surveyed brands, customers and agencies, and found event marketing is a rapidly growing investment.
The top two reasons for adding experiential consumer events, such as in store sampling and demonstrations, to a marketing budget are to increase sales and create brand awareness. And it works. 54% of consumers purchase the product during sampling events and 74% have a more positive opinion of a brand once they have an experience with them in store.
The 2013 report showed that 72% of participants are more inclined to purchase a product after they have tried or seen it demonstrated in store, but this has increased to 84% in 2014. Furthermore, event participants that purchase once are 74% more likely to become regular consumers. So what motivates people to participate and engage with brands? Discount offers can attract 52% of people, but free samples and other giveaways get 83% of people involved. The other key factor that increased this year is the influence of outgoing and engaging demonstration staff on consumers’ and shoppers’ purchase decisions.
The numbers that really matter are the Return on Investment. EventTrack surveyed this too and found that they are improving, becoming more effective and having a better return. Of those that track the data, 14% of brands see a ROI greater than 5 to 1 – up from 7% in 2013. As a result, experiential consumer events – in and out-of-store – are a vital tool to drive sales and cultivate customer loyalty.
EventTrack is an annual survey and report created by the Event Marketing Institute and Mosaic marketing agency.
Written by Jari-Ann Cox
Read more: EventTrack 2014 Executive Summary
