Advertising Agency Insurance: Experiential Marketing and It’s Risks

For the past decade, marketers have tried to link up messaging and branding to move customers into action. In this recent trend, companies have found that experiential marketing may be that solution. Defined as a marketing strategy, experiential marketing, or “engagement marketing,” the strategy invites consumers to directly participate in the evolution of a brand. Rather than looking at consumers as passive receivers of messages, it aims to give you an experience.[1] Experiential marketing lets you interact with the product. You associate your immediate emotional responses with that brand, focusing on moments of “human connection.”

Since cognitive sciences has come onto the scene, marketers have been revealing how our brains connect to physical experiences around us. This can create optimal associations between the consumer and the brand.

There are five major types of experiences that form the basic building blocks of the experiential code.

  • Sensations: These are experiences like heavy and light, clean and dirty, hot and cold. Some sensations can relate to emotions, such as hot, can be looked at as ‘affection and friendliness’ and cold can mean ‘isolation.’
  • Actions: These are the experiences you have moving your body. Actions such as smiling, nodding, sitting up straight, crossing your arms or eating a sandwich can easily be decoded by marketers.
  • Space: Your physical experience with space includes moving toward or away from something.
  • Situations: How physical experiences relate with objects and people.
  • Impressions: Use your brain. Just like when you move your body, using your brain costs energy.

 

With different types of tactics come different types of risks. For example, luxury auto brand, BMW recently created a controlled experiential flash projection for a group of motorcycle enthusiasts for the promotion of a new BMW racing series. It was an extremely innovative experience like nothing that I have ever seen before. Utilizing sensation as the main experience, the ad referenced the after-effect s of staring in the sun. You can view it here: Experiential Marketing: BMW Flash Projection. This campaign was perfectly in line with BMW’s innovative efforts in technology.

As you can see from that video, this experience could have taken a turn for the worst. Just by triggering a seizure, your advertising agency could go under. It’s important to properly cover your agency and the Rubin Group can help. Contact us now and our liability insurance specialists can show you how to set up a relatively inexpensive, full coverage policy that can protect both you and your agency. Call us today (877) 806-7239

[1] – http://en.wikipedia.org/wiki/Engagement_marketing

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