Industry Insights

Building Trust Through Experiential Events

73% of Individuals Exhibit Greater Trust in Brands Following Experiential Events

The potential impact of investing in experiential events that promote consumer products or services cannot be understated, as indicated in a fresh report by Set Creative which discloses that 73% of consumers in both the UK and the US are more inclined to buy a product after participating in a live brand experience. The report, entitled ‘The Value of Experience’ gleans the following key insights:

Transforming Media Preference

The survey reveals that 44% of adults in the UK and the US have upped their attendance at live events in the last two years. And the trend is escalating, with 40% of consumers in the UK and the US increasing their spend on novel experiences over the same period. As brands continue to harness the power of live events, it’s imperative to understand the emotional resonance such experiences have in the eyes of consumers, who according to the survey want brands to provide moments that ‘entertain, engage and educate’.

Curating Brand Immersion

Although the survey shines a light on substantial growth opportunities for brands that embrace experiential events, Set Creative conducted a range of hands-on assessments with 300 UK consumers in order to genuinely grasp the worth of live experiences. Centred around the theme of ‘creating a new mocktail’ and the unveiling of fake beverage brand – Sevillian – the trial validated a strong connection to the survey results:

The Benefits of Experiential Events

Individuals engaged in the live presentation expressed that they were ‘entertained’ (66%), ‘engaged’ (54%), and ‘satisfied’ (37%) by the experience. These attributes garnered markedly better scores compared than those in the video, reading and listening assessments.

Consequently, people in the live demonstration exhibited a much higher tendency to share (55%) or endorse (51%) Sevillian, versus those who were not. In addition, 41% of those engaged in the Sevillian event asserted that they were ‘very likely’ to make a purchase, representing nearly a threefold advantage over individuals in the reading, listening, and video evaluations.

In response to the report’s launch, Guy Tremlett, Chief Creative Officer at Set Creative, commented:

‘We’re constantly, and rightly, challenged to justify why a physical experience is a more effective form of communication than more traditional channels of advertising. Common sense dictates that you’re more likely to remember something you physically experience than something you see, hear or read. But common sense isn’t proof!’

‘There’s no real data available directly comparing the effectiveness of these four channels, so we decided to conduct an experiment to try and learn more about the value of experience against more conventional marketing methods.’

Tremlett wraps up by saying: ‘As our findings show, making people feel appreciated and entertained creates a different kind of value and leaves them more likely to share, recommend or purchase your brand. In our opinion, experience is less about counting impressions and more about making impressions that count.’

Allow Us To Implement Ourselves

Considering the insights gained from the survey, why not leverage consumers’ evident preference for live, immersive brand events over the tired marketing methods of old? Start harnessing the potential of weIMPLEMENT’s highly talented, approachable and driven team of Implementers, who’re poised to ensure that your live events captivate, entertain and leave your audience fulfilled. Get in touch and let’s facilitate your boosted brand awareness today.