As 2007 drew to a close, several hundred thousand people witnessed the New Year's Eve fireworks over the River Thames. Millions more tuned in to the live coverage on BBC1. The celebration, which introduced the year of the Beijing Olympic Games and of the handover to London as the next host city was produced by Jack Morton Worldwide. Yesterday, the agency famed for its high profile Opening and Closing Ceremonies at major sporting events gave the live events industry something else to celebrate as it published the results of its global survey conducted amongst 277 brand marketers. The report reveals widespread plans to increase usage of and spending on experiential marketing in 2008. Here is a summary of the findings:75% of marketers surveyed in the UK, Europe, the US, China and Australia affirm they will increase spending on experiential marketing in 2008.
Of those planning an increase, half plan to spend 5-10% more than in previous years, 12% will increase spend by 11-25% and almost one in ten pledge to increase spend by over 25%.
70% of brand marketers state that experiential marketing is extremely or very important to their organizations, and 71% report that experiential marketing will become increasingly important in the year to come.
Experiential marketing’s unique ability to reach, engage and make relevant connections with audiences has contributed to its growth. Highlighting this point, 93% of respondents agree that experiential marketing generates advocacy and word of mouth recommendations—the ultimate “user generated content” in an era of increased consumer control and hunger for authenticity. 92% agree that experiential marketing builds both brand awareness and brand relationships. 77% also state that it generates sales and leads.
The survey also reinforces the need for brands to “do” more and “talk” less. 98% of respondents agree that “brand experiences that deliver on brand promises are central to building commitment and loyalty”. 99% concur that “what a brand does is as important as what a brand says”.
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