Experiential Marketing
Definition: Drawing the consumer to a brand by playing to their passions
To appeal to the consumer, most brands tie their products in to the consumer’s needs to drive them to do business. Experiential marketing, however, relies almost entirely on one’s hobbies and interests.
Citi, a popular bank, found that experiential marketing was their ticket to increased revenue. With their Citi Private Pass program, Citi brought their credit card holders closer to their favorite musicians, artists, athletes, and more. The program gave cardholders first dibs on ticket purchases, VIP packages and premium seating before becoming available to the public.
The result of the Citi Private Pass program was a distinct increase in revenue. Consumers spent about 10 times more with the program than they spent without it!
People are prepared to spend money on the things they really love, so consider that when researching fresh marketing tactics!
