• Tom posted an update in the group Group logo of Experiential Branding & Communications Experiential Branding & Communications 6 years, 7 months ago

    Richard Branson has been frequenting the press and various events in the recent months. Yesterday he was in Russia again, announcing a JV with Rosnano in a new fund ($200M) to support green technology. When asked what’s next for a man who had flown around the globe in a hot air balloon, he said “dive to the deepest spot in the ocean and then fly to space” – both using Virgin’s concepts and technologies. This extraordinary man’s approach to building experiential brands is by daring an experience and building companies that can make it happen. Of course, he also puts himself in the “passenger seat” each time when he reaches a new frontier, and that helps to construct his own legend. But, essentially, Branson is a businessman, who wants to market these new possibilities to other people. As such, his Virgin Galactic will offer rides to space for $200 thousand dollars. When compared to $30 million dollars that one has to pay to get to fly on a Russian rocket – his alternative, certainly seems a lot more viable.

    So, I don’t necessarily think that Branson is doing all this out of his own fame-game. I think he is truly an innovator behind experiential brand-building; besides the fact that he is also a great businessman. My vote for “favorite” experiential brand goes to Virgin, hands down.

    • My vote for “favorite” experiential brand goes to Victoria´s Secret 🙂 Victoria´s Secret (company Limited Brands) opens five flagship stores and 100 boutiques overseas, and shoot for the $50-a-share plateau in 2012. Limited Brands shares have climbed from $5.20 in March of 2009 to $41.26, and several key analysts are predicting a target price of $55 in 2013.

      I think they understood how to get their sweet spot experience through the fashion show. In terms of the Entertainment, Education, Escapism, and Esthetics, the brand is great considering the lingerie isn´t the easiest product to experience. They turned the Victoria Secret fashion show into a massive gala that pulls in more than 10 million viewers, 40% are men!

      Here’s why I think the show works for both men and women:
      • It’s entertaining.
      • It has something for everyone.
      • It draws new and loyal customers and fans.
      • It’s made for the consumer.

      Not every ladies´ brand can boast that successfully captivates both men and women.

      • The fashion show is very entertaining. I’ve actually watched it before 🙂 But if you have 10 million viewers and 40% are men, does that help sales at all? I don’t think a guy like me is going to go out and buy up a garter belt with matching bra and panties because I saw it on the show. Wouldn’t that be a bunch of wasted advertising if half of the viewers are men?

        • It is basically wasted advertising. Men aren’t their primary market, women are. The fashion show is basically a show of force saying, “We have the money to blow on this because we are successful.” Makes for a good display of how popular the brand is, but it doesn’t get the exposure to the target market if there’s 40% men watching it.

        • Dean, while it may seem like advertising to men is a wasted effort, it can be turned into an effective marketing strategy. You need to consider the implementation of their products: lingerie is often times used to be visually appealing to others. If men are watching the show, Victoria’s Secret then knows that their products are appealing to both sexes, therefore making the products that much more attractive. Women knowing this will purchase Victoria’s Secret products, making this marketing campaign a success. Not only that, but just because a man is watching the show does not mean he will not convey his interests and what he sees to others. While it is a bit roundabout, men watching the Victoria’s Secret Fashion Show are a boost to the company and its overall sales.

    • Very interesting and true. I think VS’s marketing is also brilliant. And I am speaking as a “minority” (part of that 40%).