What's Happening In Experiential Marketing Right Now? [Roundup]

Another new year has begun, and new opportunities abound for marketers across the world. Experiential marketing, in particular, is on the tip of every chief marketing officer's tongue this year. Live experiences, once-in-a-lifetime events, in-store activations -- all of these could increase leads, customers and sales in 2018. Here's a rundown of some of the current goings-on in the world of experiential marketing.

Experiential marketing could boost lagging auto sales

U.S. auto sales have plummeted. Forty-two percent of car dealers say they experience less footfall now than they did five years ago, according to a study by McKinsey & Company and the National Automobile Dealers Association.

The reason? More consumers research cars online. Experiential marketing could provide a solution. Car dealers can increase traffic -- and, ultimately, reverse a sales slump -- by organizing events. An in-dealership live experience provides prospective customers with something they just can't find online: the chance to see, touch and learn about a vehicle in person.

"The demands of the digital age require a new way of manufacturers and dealers to work together," says McKinsey & Company in Forbes magazine. "The sooner they improve collaboration to enhance competitiveness and deliver more value to the customer, the greater their chances of winning the digitally-fueled retail race."

Marketers can promote the benefits of visiting a dealership on their websites and social media pages. These include the opportunity to test-drive a vehicle or talk one-on-one with an experienced salesperson. Special experiences will encourage even more people to swap the internet for the showroom.

Take car manufacturer Audi, for example, which recently lured customers back to its dealerships with the latest technology. The German brand created an in-store virtual reality system, where customers are able to view thousands of customizable options before they purchase a vehicle. "It's not just about showing our cars in a very realistic way. It's about the experience," says Marcus Kuhne of Audi. "Our goal is to have them leave and say, 'Wow, that was a great two hours!' and with VR tech, that's possible."

Marketers have access to more tech than ever

The latest technology can make your experiential marketing campaigns even more of a success. Take wearable technology, for example. Once the domain of health care providers, this technology is now working for marketers, generating valuable business intelligence about customers. Visitors can also use wearables to check in to your event and reduce the amount of time they spend waiting in line.

Researchers project that retailers will sell 163 million wearables by the year 2020. If you haven't considered this technology for your experiential campaigns, now's as good a time as any to get started. "A recent survey found that nearly 70 percent of consumers are ready to engage with brands via wearable devices," notes Glenn Chin in Chief Marketer. "So whether you opt for a branded app or an email alert system, find some way to connect with consumers through their wearables," he advises.

Is 2018 the year of experiential marketing?

Experiential marketing has developed at lightning speed over the last few years. But, could 2018 be the year it hits the marketing mainstream? Business 2 Community posed this question in a recent blog post, which featured some of the benefits of experiential.

"The rise in experiential marketing is driven in part by the shortened attention spans of today's consumers," writes Angela Stringfellow. "By making emotional connections and appealing to the senses, marketers can tap into deeply held values, wants, and needs to engage audiences in ways that are impossible to ignore or forget."

The year has barely started, and experiential marketing is already making waves. This trend could increase sales in the automobile industry and lead to more accurate customer data with the use of wearable technology. No wonder experts predict that 2018 will be experiential marketing's biggest year yet.