As success with traditional advertising becomes increasingly difficult, many brands are turning to experiential marketing to create direct connections and increase brand loyalty. And according to one recent study, one-third of CMO’s believe they will allocate as much as 50% of their marketing dollars to experiential efforts over the next three to five years. Some marketers see the fruits of experiential efforts immediately—increased lead generation, brand advocacy and even closed sales with certain experiences.
But so far, there is not a universally accepted methodology to measure whether these efforts are working. Many companies opt to use a social component to guarantee analytics for measurement. For others, however, relying on hard numbers isn’t the full story since emotional connections have an intangible component. (Adweek, 10.2.17)