The Increasing Value of Experiences and What it Means for Marketing

While Millennials are still partly a mystery to marketers and developing specific marketing plans tailored to them, one big consumer trend which is known to have been brought about by them, though it now seems to be the norm amongst consumers of all ages, is the fact that they value experiences above material goods.

With the rise of social media, consumers are after experiences that will enrich their online profiles, and increase their popularity and likeability. It is no surprise then, that given the choice consumers would much rather spend their money travelling and exploring new places than getting a new TV or designer bag.

This is also confirmed when we see luxury and consumer goods companies reporting flat financial periods or limited and disappointing growth, while hotel booking websites and tourism industries worldwide continue reporting great financial performances.
For marketers what this means is an increased focus on experiential marketing. Trying to connect with customers on a personal basis, providing them with or facilitating, sponsoring and promoting memorable experiences, are the ways of raising brand awareness, boosting satisfaction, and creating lasting impressions.

This is the reason for the increase in promotional events happening around the world, as well as brands being featured in festivals and music events. What was once dismissed as mere marketing stunts, are now well thought-out events and experiences that provide a chance for consumers to engage with a specific brand.

If you are planning a promotional event as part of your experiential marketing campaign, it is crucial that you focus on the human aspect of making connections. You could have a great event planned, costing you a big chunk of your budget, but if you have the wrong staff talking to your guests, you’ll be limiting the success of your campaign.

It’s important you hire the right personnel not only for your event, but for your brand too. Matching your staff’s personality, attitude, and values to your brand’s, or at least to your brand’s objectives within the event, can be a hard job, but it really makes the difference. If you don’t want to go through the casting process yourself, it is easy to outsource it. Event promotion companies provide your business with event personnel to match your event’s needs. At Flash Point Promotions, we make a point to expertly match your event requirements with our competent and professional staff. From brand ambassadors and promotional models to character mascots and costume suits, we know the right people for your brand – and we are so sure and confident in our team that we usually accommodate for last minute bookings.