Marketing should focus on 'consumer experience' as a primary goal than mere 'brand awareness'. Read more how some marketing companies are doing this
Marketing media houses have been employing innovative marketing strategies to help their clients in branding and promotion. More often than not, they come up with different tactics to build greater audiences for their clients. Of course, many of them have been successful in attracting substantial audiences. But the flipside is that the audiences aren't stagnant which decodes that the competition for grabbing eyeballs has been growing on an equal pace.
The dearth of an immersing experience calls for a marketing alternative, an experience where consumers are not at receiving end but are actively involved in the evolution of a brand or what we call a 'brand experience'. Marketers are focusing on 'consumer experience' as a primary goal than mere 'brand awareness'.
Samsung's 'Samsung Studios' is one such example of a campaign which instantly ticked off the brand and consumer connect. In 2012, as part of its sponsorship of the then Olympics, Samsung organized brand experiences at various destinations to demonstrate Galaxy S3 and Galaxy Note, to the potential customers. Visitors could play with Samsung's Olympic Games app and were offered lucrative wins. As a result, nine out of ten visitors claimed to be more likely to consider Samsung phone due to the interaction. Samsung succeeded in gauging demographics by providing a personalized badge to the customer. It also reduced the friction on the path to purchase. The results were clear: the more people engage with the product, the more they are likely to buy from that brand.
To be able to create connect with a potential customer what is important is to understand what is the nature of target audience. For any brand, the major component of its audience is Gen X, millennials and those born later. For any private brand, Gen X and millennials count for 20% and 45% of buyers respectively. A whopping 72% of millennials are fantasy football fans. Moreover, nearly 4 out of 10 football fans buy product from sports-related brand which caters to the fact that there is a lot of scope of product demand and sales.
The good part is that a major chunk of these millennials are influenced by promotions when it comes to buying a product. Platforms like fantasy sports serve as perfect marketing alternatives when it comes to involving consumers in the co-creation and production of marketing programs. Brand marketers should employ a whole ecosystem experience helping their clients delivering experience that customers desire. This way, brands can develop a one-on-one relationship and a shareable interaction with the consumer.
For any private brand, Gen X and millennials count for 20% and 45% of buyers respectively
Media agencies with some of the biggest names as its clients, are suggesting fantasy sports to top brands as an engagement alternative to increase consumer consumption. Such an approach is justified in a scenario where people are rapidly moving towards digital medium. A highly personalized fantasy sports design can be very influential in changing the dynamics of brand promotion and marketing.
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