The Rise of Experiential Marketing
It is no secret that TV is undergoing a slow purge in audience numbers in the 5 capital cities of Australia.
Australian free to air TV is slowly losing audience numbers to other entertainment platforms for example DVD's & the internet.
Why? The answer to this question can simply be put down to two words: 'Engagement Control'. Consumers now have unprecedented access to content on demand in addition to creating the content themselves as highlighted at the recent Cannes Film Festival.
The focus is now squarely being placed on the power shift in media, where the media used to define the message format, now the content of the message is defining its own media.
The shift toward allowing users to create their own advertising content has highlighted the trend of 'Engagement Control' to be designed and consumed on demand, when and how consumers want it.
How does this relate to Experiential Marketing (XM)? In every way!
Experiential Marketing is the physical form of engagement for a brand involving the 5 senses. Engagement is something that mainstream media, including outdoor, are grappling with for their own platforms.
Existing media audience measurement systems are based on numbers, how many people are watching, reading or listening, but how does the mainstream media (a one-way communication platform) measure consumer engagement with a program or media platform property?
The answer is it can't, and mainstream needs to find a way to understand how to measure audience engagement to the messages their platforms direct.
This is why Experiential Marketing is growing, because it can provide advertisers with the engagement they require with consumers who actively want to know more about their brands.
