Experiential Marketing Statistics for 2018
In this blog post we will highlight the latest statistics for experiential marketing in 2018. By region, there have been some interesting insights across the board.
In Asia, 32% of Asian marketers anticipated spending more than 1/5 of their total budgets (double the number of Asian marketers current budget).
In the UK, there's been an increase in Q4 of 2017 / beginning of 2018 with an overall increase of 5.5% in budget. Experiential is the only 1 in 2 marketing disciplines that has achieved positive budget growth.
In the US, 80% of businesses that are over-performing in respect to their company goals will increase their live event budgets. The majority of event marketers plan on investing more in
The majority of event marketers plan on investing more in live events in the future both in budget (63%) and number of events (63%).
The majority (91%) of over-performing businesses place a greater emphasis on live events as a marketing channel and plan on growing their event marketing budgets by more than the rest ($4,500 more).
A word from the marketing leaders on experiential
Turns out CMOs are also supporters of experiential marketing as a medium to advertising their brands.
“Experiential is core to our business in the next 2 to 3 years.”
—Meredith Verdone, CMO at Bank of America
“We are really focused on the experience, and we know this drives our customers’ perception of the brand.”“Experiential for us will continue to gain in terms of importance. Our goal has been to go into the marketplace with a different disruptor strategy every quarter.”
—Andrea Riley, CMO at Ally Bank
What do marketers say?
95% of respondents agreed that live events provide attendees with a valuable opportunity to form in-person connections in an increasingly digital world.
Most event marketers believe that events are the single-most effective marketing channel (31%) over digital advertising, email marketing and content marketing.
Respondents felt that brand experience was particularly effective for lead generation (54% of B2B marketers and 53% of brand managers) and increased sales (56% of North American and 50% of Asian marketers).
What do consumers say?
* 93% of consumers claimed that live events had a larger influence on them than TV ads.
* 98% of consumers created digital or social content at events and experiences (and 100% share the content).
* 94% think emerging tech has a positive impact on events, but 1 in 3 still struggle to gain ROI from it. More creatives and ideas are needed to engage more customers and create better wow moments.
* 46% marketers claimed that curating content and building their activation agenda are the most time-consuming part.
* 29% of marketers claimed the biggest challenge to be a rising cost of event.
* 36% said an in increasing event registration was their biggest challenge.
* 84% of respondents believe that VR and AR are the future of shopping.
* 92% say they’d like to see more retail apps make use of VR or AR.
* 66% of Japanese consumers surveyed would like to see more physical stores using VR and AR.
If you'd like to read more about these trends, follow the links below: