According to Forrester Research, his presentation starts, experiential marketing spending has grown to $11.2 billion, capturing nearly 80% of marketing service dollars. Grocery Headquarters says that today's consumers are harder to reach... busier, more distracted. The Economist reports that media fragmentation and cluttered sales channels make it harder to impact customers with a focused message. James Gilmore, co-author of The Experience Economy, says "Marketers are realizing that it's becoming very difficult to differentiate their brands without an experience." Or as one marketer put it, notes Morton, "You need to create an experience that makes hearts beat faster. People need a feeling. Without emotion, a product is just a product."
Emarketer summarizes the January 2004 report from Jack Morton, noting that 43% of female consumers and 29% of male consumers in the US say experiential marketing leads them to buy a product quickly. And the Morton report, compares these percentages to TV commercials and direct mail, and finds that experiential marketing is the most influential among women, while 34% of men say TV ads are the most influential.
Extremely of Very Influential in Purchasing (% of respondents)
|Presence of an on-site representative||83%||82%|
|Ability to experience with friends/family||53%||67%|
|Information about competing products/brands||54%||48%|
|On-site kiosks to provide product/brand information||53%||47%|
|Ability to experience alone||49%||48%|
You can find out more here at eMarketer.