Rochester, MI April 7, 2016 – Experiential marketing is hot for new auto buyers according to the 2015 Foresight Research Promotions Immersion Report™. New car buyers were twice as likely to attend an event versus the prior year, and 140% more likely to be influenced by an event. It’s no surprise that in the proliferating media landscape, auto marketers look to experiential events to foster brand interaction and engagement in a way that traditional market channels just can’t.
Foresight has measured automaker experiential event display effectiveness for almost a decade in the annual buyer-based Channel Immersions and Perspectives Study™, and in custom experiential display evaluations reported through Experiential Onsite Reports™. President, Chris Stommel shares the foundational basics for measuring effectiveness that span brands, types of events, and time — attracting the right people, with a product focus, encouraging brand engagement, and ultimately spurring action.
Event/Brand Marketing – Drawing the right people to the event/display
Demographics, geographics, and psychographics, can all be important diagnostic tools to better understand data, but they are secondary to the most important profile factor for new auto marketers – 12 month intention. Using auto shows as an example, visitors intending to purchase a vehicle in the next year are over three times more likely to be at the show “mainly for serious shopping” versus “mainly for fun.”
Product Oriented – The Car is The Star
Each display elements, even those that are not vehicles, ultimately need facilitate interaction with the product. Elements need to be eye-catching, and importantly, accessible to event visitors, with all roads leading back to the product.
Activation effectiveness – elicit the desired display participation and post-show actions
There are several metrics which give insight into the effectiveness of the activation. Dwell time, participation in elements in the display (e.g. computer terminals, brochures, giveaways), and the shopping factors such as interacting with a product specialist or other display staff.
Sales impact – ultimate effect on funnel measures
Arguably, the most important event outputs are impact on brand opinion, brand consideration, and purchase likelihood. These measures often allow marketers to compare events on an even playing field with more traditional marketing channels, so provide a valuable perspective.
Stommel is quick to note that the four areas outlined above are foundational imperatives for an effective event. Yet they are just the beginning, and custom client-focused areas explored in past Foresight studies reveal rich areas for insights beyond the basics. Experiential events will continue to be important marketing tools, and Foresight will bring deep experience to evaluating their effectiveness.
About Foresight Research – www.foresightresearch.com
Foresight Research specializes in syndicated and custom studies focusing on key influencers of purchase decisions in the automotive industry. Since 2008, Foresight Research publishes syndicated reports each year that provide information, strategies and best practices to help auto companies, their partners, and auto dealers to build, position, and support marketing insights and actions.
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