Data and experiential marketing, a perfect match made at Amava digital?
By: Ayo Ifedapo
Tags: Marketing, Consumerism, Experience, Experiential Marketing, Data

Data has matured to become a valuable quality within the twenty–first century, being an essential resource in the information economy even as oil is a necessary resource in the industrial economy. It is not merely enough to gather data, however assembling the correct data that suits your business and uncovering valuable insights, sets data-driven corporations apart from their competitors in terms of accurate business results. we have seen tremendous data-related innovation in the Government, travel/tourism, banking space, and so on.

Marketing on the other hand has evolved to a discipline that includes data-based strategic thinking, conducting analysis to develop data-backed insight, and applying that analysis to sustainable revenue streams. data-driven marketing also provides brands with transparent ROI on their activation, and marketing spend on each marketing campaign.

DATA AND AMAVA DIGITAL

Due to the recent establishment of good, consistent, and direct connections with consumers, brands are adopting experiential marketing. These connections have proven to be of great significance to help brands alleviate consumer pain, improve products, find better marketing channels, providing brands with insights on how consumers react to marketing campaigns. According to study from Event Marketing institute Events track benchmark, 72% of consumers positively view brands that put out quality events and experiences. You cannot talk experiential marketing without talking data.

FACTORS TO CONSIDER WHEN CARRYING OUT EXPERIENTIAL MARKETING BACKED BY DATA.

BUSINESS UNDERSTANDING AND GOAL:

This stage includes a very precise description of the business, problem and the method of evaluating the achievement of the goal. A correct solution to problems involves a correct understanding, one business model cannot be used for all business considering there are different business in different industries. When carrying out experiential marketing, understanding the business helps in understanding the type of data that should be collected and problems the marketing campaign can solve.

“Lilly runs a small soft drink business with few friends and is looking to expand due to low sales, Lilly just learnt about experiential marketing and would love to try this out. Lilly chooses the hotspot of the city to carry out her marketing, so she picks up her soft drinks, and drives down there with her team”.

USING THE RIGHT TOOL/SOFTWARE:

Just putting out experiential marketing is not always enough. People love experiencing products with comfort. Can this be accomplished? how can consumers enjoy products and get their records on those products. Using tools from an experiential marketing agency like Amava digital makes experiential marketing seamless and comfortable. Consumer data can easily be collected from cellular gadgets through scanning QR codes.

“Lilly and her team engaged strangers to tell them about the drink, giving these strangers little drinks to taste, and using a software also as a means of collecting data. The team made sure they collected a lot of data by respectfully engaging strangers”.

COLLECTING THE RIGHT DATA

Having a large data set is great but having correct data for the business is a goldmine and cannot be understated, therefore understanding the business problem is truly essential as this helps to know what data will be important in making analysis. Collecting the right data helps to target specific consumers after marketing campaigns, for example, if age data is not collected it will be harder to target consumers based on their age.

“The team returns home with these data and now need to analyze it to gain insights before distributing drinks for sale. They noticed a feature from these data that looked interesting. The region(A,B) feature tells what region strangers live”.

CORRECTLY ANALYZING THE COLLECTED DATA

One of the reasons for collecting data during experiential marketing is for analyzing to gain insights that will help answer business questions, improve on products from consumers review, discover better marketing channels, and to see how well the marketing campaign performed, but all these depends on good data and analysis.

“They discovered a good correlation between the REGION feature and POSSIBILITY_TO_BUY. 90% of strangers from REGION A recorded that they will buy the drinks and 10% said they would not. 90% from REGION B said they will not buy these drinks while 10% said they will. Looking back at the information about the drink, it says “MUST BE SERVED CHILLED”.

Lilly and her team conducted research to see why REGION B were not interested in her drink so much. After much research, lily and her team discovered, that region B do not get enough electricity which goes against the basic information about the drink. Lily and her team successfully used experiential marketing with GOOD data to analyze potential customer buying pattern with demographic data playing a huge role.

It is time for distribution, imagine you were lily, which region would you distribute more to and why”.

This simple illustration describes the importance of experiential marketing with good data and good analytics.

that looked interesting. The region(A,B) feature tells what region strangers live”.

CORRECTLY ANALYZING THE COLLECTED DATA

One of the reasons for collecting data during experiential marketing is for analyzing to gain insights that will help answer business questions, improve on products from consumers review, discover better marketing channels, and to see how well the marketing campaign performed, but all these depends on good data and analysis.

“They discovered a good correlation between the REGION feature and POSSIBILITY_TO_BUY. 90% of strangers from REGION A recordered that they will buy the drinks and 10% said they would not. 90% from REGION B said they will not buy these drinks while 10% said they will. Looking back at the information about the drink, it says “MUST BE SERVED CHILLED”.

Lilly and her team conducted research to see why REGION B were not interested in her drink so much. After much research, lily and her team discovered, that region B do not get enough electricity which goes against the basic information about the drink. Lily and her team successfully used experiential marketing with GOOD data to analyze potential customer buying pattern with demographic data playing a huge role.

It is time for distribution, imagine you were lily, which region would you distribute more to and why”.

This simple illustration describes the importance of experiential marketing with good data and good analytics.

Meeting table at Amava Digital.

GAINS FROM DATA BACKED EXPERIENTIAL MARKETING.

Improve future Marketing campaign.

Starting every new marketing campaign with a blank slate is bad for business, it increases the risk of spending too much on new campaign and increases the chances of failed marketing campaign. Data from experiential marketing are analyzed to see how well the previous marketing campaign did and how they can make it better.

Personalization.

Experiential marketing opens doors to personalization. After collecting data using tools/software like amava digital, we can aggregate these data about our consumers in order of preference including things like review on brand product, geo location, gender, age and so on, and use these aggregated data to send relevant and targeted follow ups, tips, opportunities and discount to these consumers.

Improve ROI

one of the maximum treasured things about data and analytics in experiential marketing is that apart from seeing business results, we can also measure the success of each stage of the marketing campaign and measure the impact of each process. This helps measure and evaluate ROI over time and create attainable milestones, this way we can see methods that works and methods that needs to be improved on.

INDUSTRIES USING EXPERIENTIAL MARKETING BACKED WITH DATA.

BMW (AUTO MOTIVE)

The popular car brand BMW was looking to take total control of consumer experience events, and looking to solve for problems like limited data, experiential, activation data not tied to any CRM, dirty and untracked data, no data security etc. With the help of experiential marketing software from good agencies, they were able to Capture and consolidate data across customer experiences in multiple regions concurrently, Automate and personalize communications, Integrate data into CRM systems in real-time. This solution gave access to data from 2,000 event days in real time where analytics could be carried out also in real time.

“we were able to accurately measure results and compare against previous years’ activations. Most importantly, we saw a substantial increase in sales leads from key events.”

Marianne MacNeil, Event Marketing Manager, BMW

Major Brand Agency and Maple Leaf Sports & Entertainment (MLSE)

MLSE offers great opportunities for brands but can be challenging for organizers due to multiple stakeholders, short windows of engagement, limited opportunity to grab sports enthusiasts’ attention and demonstrating ROI from these costly activities. They struggled with limited data, difficulty integrating these limited data to brands CRM. The solution with experiential marketing backed by good data provided deeper insights and more value through campaign bench marking, geographic analysis, demographic analysis, and sales match-back analysis through data capture and data tracking, track performance in real time and demonstrate ROI from sponsorships.

Experiential marketing is all about experiences and storing data about these experiences create opportunities for brands, and most importantly using the right tool and software like amava digital helps create engaging digital experience, real time analytics in order to justify experiential ROI, optimize future campaigns and seamless data integration into existing CRM.

KELLOGS

The Kellogs team reached out to us to gather data from mini and large experiential marketing events, either in Modern trades, Retail stores or large consumer centric events which were organized by our team.

“we were able to track our customers, position our products better and improve overall sales, I must say this is a great tool for FMCG brands and products”