Experiential Marketing Spend: A Re-Allocated (& Re-Imagined) Investment
The reallocated funds that were previously earmarked for in-person events, festivals, concerts and sporting entertainment settings have taken a unique revamped refocus to creatively engaging in consumer content.
By iterating technology tools, brands have uniquely found ways to leverage consumption channels that wow and enhance the overall customer experience and increase e-commerce—all while operating amid a pandemic.
Two such examples are:
1.) Snapchat is utilizing Augmented Reality as it aims to double its NBA content heading into the company’s sixth year partnering with the league — starting with the 2020 NBA Draft. Fans will be able to walk on the court and create content wearing team gear using augmented reality, with future potential for e-commerce additions. Advertising on Snapchat’s AR lenses and filters could be worth up to $4 billion in revenue for the company.
Content will include shows produced by the league, real-time highlights for every game and curated “Our Stories.”
2.) Honda is taking to Twitch for its next reveal. Though traditionally unveiled at auto shows throughout the globe, the Japanese carmaker will reveal its next Civic model on Twitch’s “Honda Head2Head” channel, which Honda has sponsored for three years. To further excitement and engagement, A Fortnite battle and performance from rapper Cordae will also be part of the show. It's an inevitable proposition that its competitors will engage with as they deal with protocols surrounding the pandemic. Such platforms will enable car enthusiasts to be immersed into the virtual setting as in-person auto shows will likely be postponed for the foreseeable future.
For Honda, this marketing play is an extension of a previous direct attempt in recent years to reach new demographics (and now an even more intentional move with the absence of live events) as it has had significant investments into e-sports with sponsorships of Team Liquid and the League of Legends Championship Series.