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Experiential marketing is the future

by WF- Enzo Administrator
17 replies
Millenials and Gen Zs are driven by social media, and before they make the purchase decision they need to experience that product or service. These could be subscription trials or product leases. This is also the strategy of almost every subscription service - Netflix, Spotify, Apple Music, Microsoft 365, name it; they let new users signup for a 30-day trial, and once that period is over it's all up to the customer if they wanna continue paying for the full subscription or not.

Watch this TED Talk by Layne Braunstein, COO of Fake Love, as he describes how he holds the short attention span of such audiences for global brands.

#experiential #future #marketing
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  • Profile picture of the author Profit Traveler
    Banned
    Agree. Free trials and especially Free forever with upgrades options is evergreen powerful.
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  • Profile picture of the author Ron Mendita
    100% agree!
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  • Profile picture of the author susan2015parker
    Experimental marketing has benefits for both users and companies. When companies offer free trials, people start using those services to check what it has to offer them. It helps companies to establish a repute especially when you are a startup. Free-trials are really great! I prefer to go for a service that gives me free trial in the beginning because this is the time period when users like me decide if they want to get regular subscriptions or not! I think companies should more often offer free-trials because it gives a sort of excitement!
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  • Profile picture of the author Matthew Stanley
    yeah - it's been interesting/cool to observe the paradigm shift to free trialing for almost everything. Makes total sense from a psychology standpoint (kind of connects to the Reciprocity principle), and love that it's almost become "table stakes" for so many new products and product categories.

    I think the best of the best - like Netflix - take this a step further, and make *cancellation* of a service insanely easy (esp if you look at how hard it is to cancel some other services ... requiring talking on the phone to support, etc). Speaks to their supreme product confidence, and imo (subtly) counter intuitively disinclines consumers to cancel!
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    • Profile picture of the author JPs copy
      Netflix also has a ton of market share. Also, I think during the pandemic, they had some millions of new subscribers.

      I cancelled mine a few years ago, but then kept crawling back for more...
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      • Profile picture of the author Matthew Stanley
        Yup - same story here. They're just so long-term focused in their investments and strategy, and have aggregated so many subscribers, they've essentially become "TV" for millions of households. Drives some investors nuts when they see the (lack of) cash flow, but their shareholders aren't complaining!
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  • Profile picture of the author Medon
    The trouble is that it is only limited to e-products and may not work for consumables.
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  • Profile picture of the author MicroInfluencer Secrets
    Free trials/free products allow you to show the consumer the value you can add to them and/or their services. You must earn their trust in order to earn their $.
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  • Profile picture of the author samsabir
    So true! Experimental market is not only good for collecting valuable information about the consumer behavior but also helps you understand what will and what won't work in the long run.
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  • Profile picture of the author Princess Balestra
    Seed the habit for free, reap the benefits for life.
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    Lightin' fuses is for blowin' stuff togethah.

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  • Profile picture of the author MrProfit
    This really inspired me!
    Some ideas just came to my mind and I am gonna test and see if experimental marketing can work for book selling. Thanks
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    Success is a CHOICE, not a CHANCE!
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  • Profile picture of the author Jonathan S
    Free trials have been around since the creation of software, the only difference now is that almost all software are browser based or turned into apps.. gone were the days when you need to install the software in your computer... and this what appeals much for the Gens Y&Z because most of them are mobile users and apps crazed.
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  • Profile picture of the author Jamell
    Thanks for sharing this. I am going to implement this strategy
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  • Profile picture of the author Sammy49
    This was a great share. Thanks. I have a few ideas I can apply this to
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  • Profile picture of the author LuizKA
    yes true , just i hope it will help and work for all.
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