STANDING OUT AGAINST COMPETITORS

Here are seven ways how you can benefit from the experience economy and stand out against your competition.

1. Define what you stand for, and let your customers know

It's no longer enough for you to simply market and sell products. Customers yearn to know what you stand for, as well.

What and how do you want potential buyers to feel when they interact with you? Define that, then show it to your customers through the products, events, and advertising you create and the emotional responses they evoke.

Compare Red Bull and Coke, for example. Both are sugary drinks, but customers have very different experiences when quenching their thirst with them. Red Bull sells an Energy drink, focusing on endurance, training, and athletes' pushing themselves to the next level. Coke focuses on fun, friendship, Diversity and Inclusion as seen in “A coke is a coke” advert.

2. Align with influencers who share your vision

Think about the influencers whom your audience relates to and who can endorse your product. For performance apparel companies, athletes quickly come to mind as a group who can mobilize your customers to participate in an event or make a purchase. Other influencers include Movie stars for beauty brands (think Jackie Appiah for Ghandour Cosmetics), lifestyle bloggers for a range of home products (Example Ameyaw Debrah) and Music Artists for a range of telecommunication Devices (Take Stonebwoy for Samsung). Get creative with your influencer outreach to maximize their impact on your audience.

3. Find ways to connect with your audience

Giving away free product samples is a tried-and-true way to connect with customers, but how can brands take outreach to the next level?

Instead of just surprising Australian beachgoers with free soft drinks, the Coca-Cola Company installed showers designed to look like giant Sprite soda dispensers to give them a truly refreshing experience. Then the beachgoers did what anybody rinsing off under a giant soft drink dispenser would: They shared the stunt like crazy on social media.

Connection points don't have to include beachfront installations to make an impact. Coffee-Mate made its mark on college students during finals week when it set up shop in the middle of Ohio State University's South Oval to pass out free samples. If students weren't able to make it to the shop, they could text or tweet Coffee-Mate for a delivery, creating a fun experience during an otherwise stressful time for students.

4. Team up with other brands

Sometimes a brand's audience just isn't large enough to reach its goals; that can be especially true for charities that want to solicit donations and spread awareness.

Even the British royal family sees the opportunity in strategic partnerships: Kwabena Kwabena’s Save a Life Foundation teamed up with Save a Child’s Heart, an Israeli Charity Organization to host a concert to Raise Funds to support children who need heart surgery. Both brands have widespread influence on their own; when they teamed up, however, the impact and the experience became that much more powerful.

5. Liven Up Tradeshows

Although most professionals dread tradeshows, you can seize the opportunity create a memorable experience at a typically boring event. Turn your booth or sponsorship into an experience—whether a blind-taste-test station for food brands or an exclusive first look at new apps for tech companies.

6. Record everything

Events are major investments, so why are so many brands missing out on opportunities to promote them?

Hosting a conference? To give a sneak peek of conference content, record short clips of your speakers. Get behind-the-scene footage during setup, and share content in real time via Facebook Live. Never miss an opportunity to record content that can be used for future promotion.

7. Create a social media plan

Include social media in your marketing plan, and be strategic about the social platforms you use.

Social media boosts experiences in two ways: It gives participants the opportunity to connect and share with others at your event, creating a collaborative environment for attendees; it also shows potential customers who couldn't make it to your event what they're missing.