Experiential marketing can be referred to as a type of marketing strategy that focuses on consumer engagement using their brand experiences.
Social network web portals like Twitter, Facebook, Google Plus YouTube, Pinterest and blogging platforms enable followers to “post”, “tweet”, “retweet” or “repost” comments instantly. Messages are viewed by other visitors. Thus, social network websites work as a source for word of mouth publicity.
Blogging represents an opportunity cost for companies, consuming resources that could be employed elsewhere. The question examined in this section is whether the bloggers consider that the investment in time and money is justified by the results obtained. First, however, it is necessary to determine how the effectiveness should be measured.
Despite the intensive promotion of blogging as ‘the next big thing’ in the trade press (e.g. TOI, March 2008), a number of commentators are sceptical about the business potential of blogs. One of the most vocal sceptics is Rajesh Lalwani, a well-known direct marketing copywriter
New products often spread among the public through interpersonal communication networks.
Within those networks, some people have more influence than others. A company can use those influential people to accelerate the adoption of its product and spread the word-of-mouth (Rosen 2000, p. 43).
The fact that about 20 per cent of a company’s customers generate 80 per cent of its revenue is widely recognized. But perhaps it is even more important to identify and target the customers who form the 10 per cent of the population that influences the purchasing decisions of the majority.