In-Store Media, together with professor I. Gallo (IESE Business School) has given an Experiential Marketing session in the AESE Business School in Lisbon. The purpose of the conference has been to explain what Experiential Marketing is, which advantages and possibilities it offers for the brands.
The main reasons that make brands to transform their products in experiences are 3:
1) Experiences are more personal and thus better assessed. People are defined for what they do and not for what they have.
2) Experiences produce more happiness than material goods. External studies show that once basic needs satisfied, the pleasure of an experience is assessed as more pleasant that the purchase of a material good.
3) Experiences are more sociable. Most experiences are shared with other people, either during the moment we enjoy it or later.
Brands have 3 alternatives to transform their products in experiences:
1) To communicate an experience. Most brands use this mechanism. The goal is to talk about emotional benefits produced by products instead of talking about its features. Most well known case can be the car brand BMW and its claim “do you like driving?”
2) To transform the product in an experience. To achieve it, the use or consumption of a product becomes more than the tangible benefit and can be an experience. An example would be the Danone creation of yogurt shops, where you can eat the products of the brand. The Yogurt consumption is not yet an eating action but a social action.
3) To be the owner of the experience. In this case the most outstanding example is Red Bull, a brand that creates and connects to sports and high-risk outdoor activities.
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