Building Brand Experiences: From Experiential Marketing to Customer Satisfaction

Flyers, print media, and television ads, especially those where salespersons recite catchy, yet generic lines in a split second, are things of the past now. No one likes an ad being rubbed in their faces. Most people detest it to say the least. Marketing efforts that a customer embraces without knowing they are being sold a product or service have become a true marketing definition.

This involves understanding the needs of the customers to a T. And based on those needs, strategies are developed.

So, as new marketing strategies emerge every now and then, consumer experience is the most important takeaway a brand wants to give its customer. This is then extrapolated into selling value in the form of its product or service. And to create that valuable experience, the brands are embracing this new buzzword called ‘Experiential Marketing’.

What is Experiential Marketing?

Synonymously known as ‘live marketing’ or ‘engagement marketing’, experiential marketing strategy focuses on creating an unforgettable connection between the brand and the consumer using live experiences.

Rather than looking at a tennis racquet and speculating how it feels for you, playing a set with that is far better. This experience is exactly what Decathlon, a sport and fitness goods retailer is providing. Likewise, they provide small tracks for customers to test shoes and cycles.

Experiential Marketing Generate Experiential value

This term refers to the psychologically perceived benefits derived from using a product or service or after interaction with the brand. This is the core motive behind experiential marketing. 

It is not necessary that the customer must have bought the product. It can also be at a pre-buying stage. It can also help in forming a perception of the product. It can be in the form of return on investment, service superiority, and aesthetics.

For example, experiential value is why brands like Apple, BMW, Chanel, and many other logos/brand names are considered status symbols.

How does experiential value enhance customer satisfaction?

Experiential value and customer satisfaction share a derivative relationship with experiential marketing. In simple words, customer satisfaction is a customer's response to the experiential value derived from experiential marketing. If a marketing effort helps a customer feel valued, they are ultimately satisfied.

Experiential value refers to the relative preference created for a product or service in order to derive customer satisfaction. Therefore, it plays a mediating role between experiential marketing and customer satisfaction. 

Consistently providing quality experiential value to customers is a sure shot way to convert them into paying leads. Also, their relationship does not end with the purchase of a good or availing of services. Experiential value breeds loyalty amongst customers for the brand. This can be leveraged and monetized to different heights.

Conclusion

Experiential value is the currency on which tomorrow’s marketing will operate. And brands looking to create experiences that engross their audience shall enjoy the first-mover advantage. From giving free samples to organizing competitions, any audience effort can be an experiential marketing initiative. 

Remember that the audience has more options in the market. And bad experiences can be traumatic for them and they usually leave a fairly permanent impression of those brands. So, carefully designing experiences and creating value for the audience are two steps that need to be prioritized.

Here's how AVS India ideated and curated some exceptional Brand Experiences to generate Experiential Value and Customer Satisfaction!