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Experiential Sports Marketing A Great Value Add for Mid-Sized Brands
When it comes to devising their marketing mix, mid-sized brands often find themselves having to make some very careful decisions. This is particularly due to the fact that they operate on a limited budget, as opposed to the big brands that they compete with. Therefore, marketing managers of such brands have to be extra meticulous in deciding what marketing channels to tap into so as to maximize the marketing effectiveness. In this article, we look at why experiential sports marketing is a must-have within the marketing mix of such mid-sized brands.
EFFICIENCY OF REACHWhen it comes to implementing experiential marketing, a brand gets to choose which events to target. Typically, this choice of events is done on the basis of whether or not a significantly large percentage of the audience that could be reached by marketing during the event would be among the target market segments for the brand. Thus, brands can ensure that the maximum people who they engage through an experiential marketing campaign are those who would end up being buyers of their products. This translates to a higher return on the investment made in marketing through the experiential marketing event.
GREATER DEPTH OF ENGAGEMENTWhen it comes to marketing, it is not just about what number of people you manage to reach that matter. What is important is how strong is the engagement that you seek to generate can be. This is because if there is a greater degree of engagement among a smaller group of audience that you target at a time, you stand a higher chance of getting them to be your customers in future as against a large number of people who have only superficial engagement with your brand. And because of the emotional aspects that surround sports, experiential sports marketing ensures that you have high level of target audience engagement with the brand that you are marketing.
MAXIMIZATION OF BRAND COMMUNICATION EFFICIENCYFrom the above points, what follows is that experiential sports marketing maximizes the efficiency of marketing investment by ensuring that the right customer segments are reached at an opportune time. However, there are few more factors which also ensure that the brand communication efficiency is maximized by engaging customers through sports. Key among these are the fact that the customers get marketed to in a rather stealthy way, and the fact that they get to experience the brand, as also because there is a possibility to set up word-of-mouth contagion among your target segments as mentioned in detail in the link here. The above three points mean that through experiential marketing, brands stand to:
- Narrow down and focus on the exact audience that they wish to market to
- Engage the audience at a far deeper and emotional level, thus forming a strong connect with the brand
- Marketing spend does not get wasted by communicating the brand to people who would be uninterested or unlikely to purchase the brand.