Month: June 2019

Age of Experiences is here: What is Experiential Marketing?

experiential marketing

It’s 2019 and getting consumers attention has become even harder now. For this reason alone it is easy to see why brands are falling in love with the idea of experiential marketing.

Experiential campaigns are immersive, live and memorable which will help you deliver your message without distractions. When you are new to it, it is possible that your strategy may lack the standard definition.

So what exactly is experiential marketing? Are there different types of it? How does it differ from your traditional marketing, or from live events generally? And when will be the perfect time for your brand to use this technique over other tactics?

Let us get a better understanding of the meaning of experiential marketing.

Experiential marketing, defined

Experiential marketing is a strategy that a brand uses to give a personalised experience.  Also referred to as “live marketing” or “event marketing experience” the idea of this is to create a memorable impact on the customer. An experience that will motivate them to share with their friends both online and offline. This could be in the forms of event, a part of an event or a popup activation that is not tied to any event.

At its essence, experiential marketing is all about immersing the customers in live experiences. It’s likely a similar approach to the one that you use while crafting an event experience.

event venues for rent

Events do often overlap with experiential marketing in two ways. Events can be a part of larger campaigns as a grand opening of a popup shop. Even smaller brand activation can be a part of an on-site art installation.

No matter which of the cases you fall under, you must be clear about the goals for each campaign. There are different ways to measure the impact of your experiential marketing campaign. Social expressions earned that means having a unique hashtag and by surveying your attendees after the event.

Should you try experiential marketing?

When should your brand incorporate an experiential marketing campaign in your business? It depends upon your goals, timeline and the resources.

Experiential marketing can help you humanize your brand and create an experience that will leave people with a permanent and positive impression. Although these experiences are in person and live you need to add social and other means to amplify your efforts across different channels.

Related Post: Start your own hassle-free popup shop!

It is not enough to provide your customers with the prize wheel or lottery and then call it a day. That type of event is not called as experiential marketing. You need to create different ways or touch points that will engage your attendees in unexpected ways. That provides benefit to all of you, your event and your sponsors if you have them. This means that you need to have the budget to make your event big or a brand name that will make it big.

Better Experiences for Consumers and Brands

The goal of experiential marketing is to create a lasting impression on customers that they will want to share with others that will ultimately lead to brand loyalty.  You are not just advertising the product but you are making the customers aware of what their life would be with the product. You are creating that connection between your brand and the positive vibes of the customer.

Many managers have started to devote almost 20-50 per cent of their budgets to experiential marketing efforts over the next few years. If they are not a part of your marketing strategy right now, then they should be. These are the benefits and the main reasons why you should:

1. Lasting Connections With Consumers

One of the main reasons big brands are following this trend is that it creates a lasting impact on the customers. Many of them have already begun building connections through this. Enhancing the experience by different activities turn out to be the best options for brands.

2. More Data in the Moment

When it comes to any form of marketing knowledge is power. Collecting information or data of customers through these has become the top priority of many businesses. Marketers need data about customers to know where and how to reach them most effectively. Product developers need to know which product will appeal more to the customers. Business leaders need to steer the direction of their companies.

what is experiential marketing

Experiential marketing gives customers the prospect to learn about products and brands while also enjoying the experience. Those customers who are willing to exchange their personal info as the admission price to an event or experience they want to attend.

Experiential marketing is essential for data collection. The data that is collected from these events can be used to make changes in the messaging, create value, and increase customer engagement on the spot.

3. An active perception of your product

One of the main goals of marketing is to give knowledge about your product to the customers and this works well when the customer is engaged. Most people go out of their way to avoid commercials, yet most will go out to have unique experiences. That’s why experiential marketing works so well. Tie your brand or product to a new experience, like events, and consumers are most likely to get the message. In fact, 65% of consumers say that live events or product demonstration helped the customers to learn better about the product than any commercial could. 

Luxury brands and other sectors are using experiential marketing to transform customer experience. Well executed marketing campaigns can turn passive customers to active participants.

Related Post: Test out new markets with no long term commitments!

It helps in transforming and elevating the connections of brands with the customers, and that’s becoming increasingly important as customers demand more specialization. With the benefits that are mentioned above, won’t be long that everyone catches up with it. 

Unique spaces play a much important role in experiential marketing than you think. Finding spaces in different spaces like malls, hotels, office parks and many more is possible through Myrsa. Renting spaces on a temporary basis becomes a huge challenge for businesses. Myrsa has made this process of finding event venue easier and renting spaces for your experiential marketing has become as easy as booking a hotel. Visit our website to know more. 

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How to Choose a Co-Working Space Wisely?

co-working space

Firstly what is Coworking? It is a business service provision model that involves individuals working independently but in a shared office. Mostly user of a co-working space is a self-employed or a freelancer. It is also beneficial for businesses who want to provide more equipment and space for their employees which they can’t afford otherwise.

Larger enterprises sometimes also opt co-working to provide facilities and space for larger number employees they may higher than normal number hired. In cases like this, one must maintain a number of people hired as their services are shared. Every owner of space provides a work environment, amenities and office equipment found in a typical office.

These are some typical features of coworking facilities include:

  • Shared Workspaces.
  • 24/7 access.
  • Rental conference and/or board rooms.
  • Internet services
  • Communal printer/copier/fax.
  • Shared kitchens, bathrooms, and lounges.Meeting rooms rental

Earlier in days if you were an entrepreneur, freelancer, the only choices in front of you for setting up a business were either out of the home of course or any temporary spaces on rent. Thankfully now we can witness the things changing, as the risk-taking ability of entrepreneurs has increased and changed drastically. Funding for a good idea is now possible with figuring out a solution for basic problems that have become so normal.

Here are some essential points you need to consider before taking up a co-working space :

Ask For Trial Period :

Most of the coworking spaces currently offer potential customers to experience the space for a day or two. Therefore, asking for trial is very beneficial and lets you experience whether space is comfortable to your working style. A trial will always make you understand the space better with the vision of how the working will be executed.

Considering the office equipment and amenities, surroundings matter a lot while taking up co-working space, noise levels around must be considered as there should not be any disturbance to your working style due to others. There should not be any disturbance due to a fully occupied space. Also, the availability of quite rooms, conference meeting rooms for discussions. Thus, getting a preview before signing up for the co-working space is crucial.

Related Post: Learn How startups benefit from flexible Office space for rent.

Know the cost :

The most important point to be taken into consideration is to know the cost. This is a significant aspect when determining the best and ideal co-working space. Different daily, weekly or monthly plans of availability, help to identify the one which fits in your budget.

Some spaces may charge extra for facilities like the dedicated desk, stationery, photocopy and print outs, WiFi, over a certain limit. But basic facilities like water purifies, bathrooms, electricity should not be charged extra as these facilities are which are primary. It is also advisable to know its membership cancellation policy.

Identify the amenities:

As mentioned earlier most co-working spaces provide basic office amenities like high-speed WiFi, desks, chairs, meeting rooms, coffee machines, water dispensers, washrooms, etc. However, it is always good to be informed about the upper limit of the user or a certain limit.

In some shared spaces they provide fixed working hours, therefore it is important to check whether your working hours align with the facilities and flexibility it can offer you. It is important to clear all the ‘ifs’ and ‘buts’ before confirming the deal which will help you in the future. Before taking the final decision, be careful and think twice about the services that you will be using and the money you are going to end up spending.

temporary space on rent

Be cognizant of the commute : 

Nothing is more annoying and tiring than being stuck in traffic especially while reaching your office for work. As most of the coworking spaces are located at prime locations, commercial areas, cities, being aware of the time spent traveling during both peak and off-peak hours is crucial.

Not only you but your employees are also going to face daily delay problems due to this which may affect your company working style. Look after and inquire with the coworking space about other locations around the same city or location that you and your employees might be able to use save time. Therefore, make sure that the co-working space you select consumes time, resulting in a higher efficient workday.

Relates Post: Key Factors to consider while considering commercial space for rent.

The other occupants :

The concept of coworking itself is that you will be sharing and using space with other people so, before the deal, it is necessary to know the other occupants. The people you are going to share the space must go hand in hand with yours.

For example, if your company is a real estate or technical company which needs quite a working environment cannot co-work with a musical company or an entertainment production company which has a loud environment. Therefore, getting to know your occupants is extremely necessary.

Myrsa helps businesses, service providers, entrepreneurs, retailers, brands, event managers or start-ups to find the temporary space to co-work which they need to test, sell, serve and grow.

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A Complete Guide On How To Open A Food Truck In India

food truck parking

Food truck business has been flourishing in India and has been gaining popularity as a concept. Previously the main focus was in CBD(Central Business District) areas of the metropolitan cities like Mumbai, Bangalore, Chennai, Kolkata, Delhi, and NCR.
Here we will take you through everything you need to know about starting a food truck in India.

Let’s start with these things:

1.Vehicle

The most important part of the business is a truck. Initially, you can start with a second-hand food truck and the vehicle running would be a bare minimum. At a later stage, you may invest in a new one. It might cost approximately 4-5 lakhs when buying a food truck.

2.Equipment and Raw Material

Next most important investment required is in essential kitchen equipment though it is a one-time investment for your truck. Essential types of equipment may include oven or stove, utensils, cookware, cutlery and few appliances like fridge, chimney, etc. When all the equipment put collectively would require an investment of around INR 2 lakhs. You will require an inventory stock of ingredients or raw materials to prepare the meals. That might cost you around INR 20-30K initially.

food truck parking

4.Staff Recruitment and Marketing

You will require to pick a few employees to manage and handle the daily operations of your food business. Fortunately, in India, expenses of using a support staff are not that huge. You can consider keeping aside around 13-15K per month per person.

Like any other store, sales will grow only if you are advertising and promoting your food business the proper and right way. Marketing would involve both offline and online publicity and can require you to spend a lot of money. You should keep at least 20k aside for the marketing of your business. Over and above your everyday operations, you should consider establishing a few tie-ups and cater to events, corporate festivals and more, such activities act as a marketing strategy.

Related Post: Start your own hassle-free popup shop!

5.Licenses and Permissions

Like any other restaurant, even food truck requires all the valid consents and licenses as per the government norms. Nowadays illegal food stalls or food truck running with permits and licenses are have been banned or eradicated from various cities. Licenses that are compulsory to run a food truck are as follows:

  • FSSAI License

Any food business including food trucks with gross revenue of more than Rs.12 lakh in India needs to have the FSSAI license.

  • NOC from Fire Authority

As food trucks deal with a lot of gas appliances, having a NOC that is the No Objection Certificate from the Chief Fire Officer is obligatory.

  • Permission letter from the local municipal body

When you will zero in on a location for your business premises, you would need to get a written document, stamped by the local municipal body to start setting up.

  • Vehicle license

A vehicle license as per the RTO of commercial vehicles is just as you will be operating out of a commercial vehicle, a license for the same must be issued by the RTO of commercial vehicles.

food truck parking

7.Location

Your food truck will manage well only if the location is good. So while selecting the location Keep the following factors in mind while deciding to find spaces for food truck parking

Vehicle Parking

A truck would require a sizable volume of open space or parking spaces for rent. Also, you need to assure that you are authorized to park a vehicle in a precise area. You could check up with the confined municipal authorities about this.

Visibility

You should determine an area which is often visited by people. Select areas that might be outside or close to popular parks, movie halls, and universities. The is a tendency of the food business to flourish in such areas. For E.g These days food truck business is flourishing Central Business Districts, especially during Lunch hours.

8.Health and Hygiene 

Food trucks usually work in very small areas. Owners must be very careful of kitchen hygiene, air pollution levels, and food waste management. Checklist related to health and hygiene are as follows:

  • Perform the use of chimneys to check air pollution.
  • Keep a check on the food waste twice a day and maintain a clean cooking area.
  • Assure that your team or staff members keep good sanitation.
  • Put a few dustbins near the food truck.

Related Post: Little Known Ways To Make The Most Out Of Renting Food Court Spaces

9.Brand Creation

A restaurant is as great as how it clicks with people. People love connecting with unique stories. Try to connect your brand with a unique story. Consider the following points to build a strong brand.

  • Finalize a target audience
  • Do competitor research:
  • Finalize a name
  • Finalize a logo and a theme

10.Adopt Latest Technological Trends

These days digital marketing has been playing a very crucial role in the success of any business. The reason being is people are now becoming more techno-savvy and are using apps, websites to order food or research any food brand or restaurant before visiting. People order as per the reviews, coupons codes, discounts, and offers.

So good marketing and promotions will determine the success of your business. Following this in mind, we will point out some ways you could promote your food truck, both online and offline.

  • Have your own website and app.
  • Tie up with online food ordering aggregators like Swiggy and Zomato. Here’s the complete guide to getting you started.
  • Develop a powerful Social Media presence.
  • Run online advertisements.

Myrsa is a portal which caters to businesses looking for temporary space on rent for food trucks and allows the host who would like to list vacant space for rent to earn extra income.

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Essentials to Open a Dance Studio

dance studio

When you dance, your purpose is not to get to a certain place on the floor, it is to enjoy each step along the way – Wayne Dyer

Dance has foremost importance all over the world. People love to participate, watch or explore dance as an emotion, especially in India it has said to have origins from the period of Vedas, which is dated around 1000 B.C. Also in Hindu Mythology, it has great importance, a dance by Shiva which is well known as Tandav destroys or creates the universe. It is a feeling or an emotion that can be expressed by humans and that is how different dance forms are created.

Related Post: Learn how Startups Benefit from Flexible Office Space for  Rent

Today it has taken a totally different turn, it is recognized as a business, competition, a way to your fitness. The Bollywood dance form has encouraged mankind everywhere in the world to be a part of the joy, celebration on totally another level. A sense of unity is found in it, it can be a way to provide physical as well as mental refreshment and relaxation. It can be a great mode of exercise, motivation, inspiration. Through dance, a bond is shared even between strangers.

Opening a dance studio or a dance academy is the top best business opportunity. If you are thinking of opening a dance academy, this blog is going be very useful to you. Here are some important head points to be considered while opening a dance studio or an academy.

Renting studio 

Renting a business space provides more flexibility to the business as it grows, flourishes. Buying a studio can be a big commitment and we have to carefully consider, renting a studio is a better option. While starting a new business you have no idea about the future, so at first, we have to take baby steps while opening a dance studio. By renting a dance studio you are not locked into property ownership as well as you can adjust your requirements with your landlord.

temporary on rent

 

In emergencies you can end your lease or in case you are going to relocate. Renting also helps you in space negotiation and lets you enjoy financial benefits. You can find your desired space for business on any online property platform. Myrsa is one of the online platforms where you can find perfect desired studios for your dance classes. It helps you to find spaces for temporary uses, connect with different brands and discover locations to grow your business.

Find a Good Mentor

Find someone who you respect and look up to to the mentor for your dance studio. It is not necessary that you have to find someone you can your self be a mentor if you are known to a dance form and are confident enough to teach your students. Today social media has been a great help in situations like these where you can connect with talented people. There can be numerous dance professionals around you who can help you by being your mentor. Attractive social media posts about your dance studios can assist you to connect to dancers.

Related Post: Event Venue – Problems faced by Event Organizers

Have a Plan

It is a crucial part of every startup, be it a commercial business or a dance studio. you have to prepare a plan about your working, your placements of the studio. It will be extremely helpful for you if you already have a group of people who are ready to take a class there. Always remember we are living in an era that is ruled by social media, so do not hesitate to make profiles on various sites and build networks. This way when you are all prepared and ready to launch, you already have a supportive audience. It is also important to look after space and planning all your operations, where your music system will be placed, your office room, changing rooms, restrooms everything must be considered while planning.

commercial space on rent

Entertainment and Relaxation

As said earlier dance is an emotion, it an expression which is expressed by mankind. People enjoy dance, participate in it as a part of entertainment and relaxation. Providing entertainment and relaxation only to your dance studio should not be your only goal. There are people out there which are not connected to you but can be your audience. Create a Youtube channel and post your dance studio workouts to create excitement and popularity around. This way your reach will be enhanced which will result in more gains for you. 

Don’t let your stress get the best of you 

Following your dreams can sometimes give you a hard time of your life. It makes you crabby and difficult to be around, which is caused by stress. But always remember, to never be unpleasant with the people with whom you are doing business. People you hired are working to make your dream a reality and running to make it a success. You should always be a person, easy to talk, to communicate without any hesitation. This will make your business work smoothly and with great performance. Your own attitude and ego are your enemies in your business, keeping your mind calm and working accordingly is beneficial. Always remember why you wanted to start this business in the first place, stay motivated and achieve all your targets.

 

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