Live experiences can be compelling and memorable, and they have the power to stimulate strong emotional connections. The implications for brands and licensed properties are huge because today’s consumers want to do more than purchase products and services. They want to have rich brand experiences that are transcendent rather than transactional; experiences that satisfy a hunger for deeper meaning.
Marketers get it, and they’re working to deliver. The question is: How to create experiences that are aligned with their brands while being meaningful to consumers at the same time? Many brand experiences, including live events, have yielded mixed results. Yet, according to a 2013 global study by Momentum Worldwide, creating the right kinds of live experiences pays huge dividends for brands. The study, dubbed “The Brand Experience Effect” compared 23 types of brand experiences. It revealed that compelling live experiences drive 65 percent of consumers to recommend a brand and 59 percent to buy it at retail afterward—more than any other kind of brand experience. Not only that, 93 percent of the study’s respondents said that they talk to others about live brand experiences; 63 percent of them talk to more than five people.¹ This is a marketer’s dream.