Experience wins

As consumers spend more on doing things than on buying things, brands are shifting their focus towards experiences. Brands are increasingly competing on their ability to deliver a superior customer experience across all touchpoints, and in an increasingly digital world, experiences are a way to retain a real-world connection with customers. Companies can stand out by adding a human element that might otherwise be missing in the customer’s journey. Which is why companies in both the B2C and B2B spaces are hosting conferences, festivals and immersive events – from Netflix to Salesforce.

Challengers such as Klarna, the shop now, pay later fintech, which is using more physical experiences to engage its millennial target audience. In 2019, it hosted department store pop-up events in London and Manchester, to bring the digital retail experience to life, with showcases from brands such as ASOS, Oliver Bonas and House of Holland, including talks and workshops on fashion, beauty and lifestyle. It also created “pup-ups” in New York and London, to engage dog owners with grooming and photography services for their pets. Through such events, Klarna tangibly and emotionally engaged its audience through their interests and passions, while showcasing what the brand stands for: a smoother, more joy-filled shopping experience. With the interactive nature of the events being highly shareable online.

In 2020, more brands will recognise the importance of experiences for engaging their customers on an emotional level and ensuring long-term brand building. In-person experiences offer brands an opportunity to create genuine connections with their customers.