Industry-First Approach: Reach3 Insights’s New Integrated solution complete with predictive performance and norms, designed for Experiential Brand Activation Measurement

Reach3 Insights, in collaboration with renowned expert in consumer influence Ed Keller, have released the first and only solution created specifically to predict and measure engagement, cultural relevance, shareability and brand impact of experiential brand activations.

The Brand Experience Predictor (BXP) enables marketers to gain fast and contextual feedback from consumers on potential brand experience activations through predictive analytics on intent to share (word of mouth and social), intent to engage or purchase and overall brand impact. BXP features diagnostics identifying for brands what the most compelling experiential aspects would be for a target, as well as what would not resonate. The solution also includes a normative database for brands to compare analysis of their activations against other experiential brand activations in its category. Early adopters of the solution have been Coca-Cola, US Cellular and a major music streaming service.

Investment in Experiences is booming:

The overall investment in experiential events is steadily increasing. 93% of event marketers express that their companies give priority to hosting events and approximately 63% of marketers have intentions to arrange an increased number of experiential marketing events. The rise of virtual events is also meteoric, with the market estimated to hit $657 billion by 2030.

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Consumers and Influentials prefer experiences over traditional advertising:

BXP was developed based on the results of a comprehensive study executed in partnership between Reach3 Insights and The Keller Advisory Group. Notable findings include:

• 51% find experiential experiences more relevant than traditional advertising
• 80% have engaged or are interested in engaging with brand experiences
• 71% say experiences are more “unique” than traditional advertising
• 63% say they are more apt to make them want to try or use the brand
• 56% of consumers saying they feel an emotional connection to a brand through experiences.

Challenges in Measurement:

Despite overwhelming consumer enthusiasm for experiential activation and booming budgets existing approaches to measurement had several major issues:

• Siloed and fragmented data: Experiential brand activations are measured in discrete ways across different channels, making holistic attribution challenging.
• Undefined success: Lack of clear goals and metrics leads to generic measurements like foot traffic, offering limited insights into business impact.
• After-the-fact metrics: The short lifespan of experiential activations and reliance on traditional metrics hinder capturing qualitative aspects in real-time.
• Lack of relevant norms: Traditional broadcast norms were designed to measure linear advertising and don’t apply to experiential campaigns.

SOURCE: PRWeb