The invitation was shipped 3 days ago: Brand X looks to up its cool factor, and “hosting”, “sponsoring,” or “presenting” the party of the moment seems the most logical solution. The big day arrives, attendees roll in, enjoy savory refreshments and go home. A good time is had by all.
Still, questions loom: Where, if any, is the real value in throwing a party, and how can those brand-side accurately measure the ROI (“return on investment”)? Is experiential marketing really that valuable?
With traditional advertising, efficacy and reach are far easier to measure than with experiential marketing; the platforms themselves—print, television, radio, digital— allow for it. Impressions, click-thru rates, and discount codes are all reliable, proven sources for audience reception and in turn, are reliable parameters for success. Offline settings where consumers interact with a brand can’t be measured according to these standards however.
Nevertheless, these events grant audiences the right to choose- and therein lies the value. Users can interact with brands on their own terms—whether to attend, the company they keep, and the memories they make there—in order to create a personalized experience. Without having to overtly push product on the consumer audience, brands can leave an imprint on guests by offering up a lifestyle.
Moet Rose Lounge & Trey Songz at The Setai Miami from Team Epiphany on Vimeo.