Fake drinks brand launch shows investing in live events can offer the best return
Though the overheads can be costly, new drinks brands that invest in live events and demonstrations could get a three-fold ‘purchase advantage’ over rivals that don’t, according to a new report.
Consumers are 73% more likely to buy or recommend a product if they’ve seen it used in a live demonstration or taken part in a brand activation themselves, a study commissioned by WPP-owned marketing agency Set Creative has found.
The agency, which has worked with companies including Coca Cola, Heineken and Google, ran an experiment around the launch of a fictitious mocktail called “Sevillian”, recruiting 300 consumers for a series of practical, reading, listening and video tests, and found that those involved in making the cocktail were three times more likely to purchase from the brand over those who were involved in reading, listening and video tests.
Of those involved in the fictitious Sevillian’ live experience, 41% claimed to be ‘very likely’ to purchase the product.
By contrast, just 16% of those involved in the reading said they would be very likely to make a purchase. Those involved in the listening test and video tests were even less interested, with just 13% and 12% respectively stating they would buy the product.
The agency also carried out a survey of 1000, which found that 80% of UK and US drinkers believe that “physical experiences create more lasting memories than physical products”.
“Drinks brands looking to launch a new product should seriously consider live events within their media mix,” said chief creative officer Guy Tremlett.
“As our findings show, making people feel appreciated and entertained creates a different kind of value and leaves them more likely to purchase your brand.”