In recent years, experiential marketing has earned a great deal of praise due to its effectiveness in creating one-on-one connections with consumers through the live experiences that they so crave. As a result, brand marketers now consider experiential to be a key part of their marketing mix.
Still, though, budgets are rarely bottomless, making it all the more imperative to use each and every client dollar as if it were one of our own. In order to understand some of the best ways to make the most out of your marketing budget, we spoke to some of our team members to find out the ways they save clients money on a day-to-day basis. Let’s dive in!
The Art of the Bundle
“Before spending a single penny, my first task is to create a list of all aspects of the project that will require a financial commitment. Next, I analyze that list to understand if I can bundle some of those elements together with the help of a single vendor or partner. Not only does this create fewer touchpoints for us to manage later on in the process, but it also gives us some leverage in negotiating costs, timelines, and other variables during the project management phase.” -- Effie Gavrielidis, Account Director
The Power of the Pivot
“For Bush’s Beans, we used survey data that was captured on-site to help us adjust our plan of action. After we found out that our NASCAR tailgate activations were reaching more current customers than prospective ones, we shared this information with the client and recommended shifting some of our focus towards NFL and college football activations. While we didn’t walk away from the NASCAR sponsorship entirely, this pivot towards NFL and NCAA activations helped us reach a different audience and, ultimately, increase the client’s return-on-investment.” -- Kim Lawton, Chief Operations Officer
Collaborate and Listen
“Frequently, our experiential activations are a part of a greater brand campaign that includes agency partners in digital, shopper, or even linear advertising. In these circumstances, it’s in everyone’s best interest to work together. Collaboration doesn’t just ensure consistency in the message that the brand is trying to share with consumers; it also provides a litany of opportunities. Are there any ways to build off of the work that these other agencies are doing? Can collaboration help widen our net and help us reach a different audience? Asking these kinds of questions can help to ensure that you’re making the most of your marketing budget and the brand is getting the maximum return on its investments.” -- Jen DeFreitas, Account Manager
Let’s Get Down to Tactics
“Once the team has identified all the aspects of the project that will require expenditures, I think about ways to save. For our venue, can we find a place that is already equipped with some of the things we’ll need to spend on? For vendors, do we know anyone in the local market to help us save on transportation costs? Are there some things that can be bought rather than rented? If we choose to buy rather than rent, can these purchases be repurposed for future activations? Finding these small efficiencies can add up to big savings over the long run – a win-win for us and our clients.” -- Devon Priola, Account Manager
Is your brand looking to create one-on-one connections with consumers through the power of live experiences? Contact us today to learn how our suite of experiential-led services can help you increase brand awareness, encourage product trial, and earn lifelong loyalists.