Location Based Entertainment: An Emerging opportunity for Startups

Today, all around us we can experience that the future of brands and brand storytelling is the Location Based Entertainment (LBE). 

There is a state of rapid transformation in the brick and mortar retail. Malls are reinventing themselves as lifestyle hubs and retailers are embracing retailtainment and experiential models. Digital brands like Google and Amazon which were hyped to spell the absolute end of brick and mortar are now slowly moving into the physical world. Fo blockbuster entertainment franchisees, theme parks and unique destinations have appeared to be the next natural frontier to capture. Business models and sectors are in flux as the lines are being challenged, blurred and redefined. 

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Physical destinations remain as important as ever.

In actuality, physical destinations have now, in this Age of Convergence has become the ultimate platform for delivering what the consumer needs. Providing a transformative experience, consumer engagement is making a shift towards guest engagement. 

Any brand that wishes to compete and thrive in this new world should know that location-based entertainment is an essential pillar for them. Here are five ways which will help you build your brand and be one of the primary to realise this emerging market opportunity:

Use this as the means of your brand storytelling.

Successful LBE’s are not just a layer of a show or razzle-dazzle applied to the same old model but is more than that. It is the adaptation of the brand identity onto an extraordinary world that the consumer can be a part of. Enterprises like Disney’s Star Wars, Tiffany’s Style Studio, Legoland Discovery Centers, Singapore’s Gardens by the Bay, the luxury real estate developments of high-end brands like Armani, Porsche, or Fendi are all manifestations of strong brand storytelling.

short term rentals

Make sure your consumer is the hero of the story

Brand storytelling is a collaborative act with the consumer.  The consumer is just like all of us they already have their own story one in which they are the hero. So when the brand contributes it should find add meaning to their existing story. The brand plays a part and fulfils the role of a trusted source or a mentor to that consumer. It Harry Potter is the consumer then the LBE brand destination should have Dumbledore and Hogwarts all rolled into one. The brand’s main aim should be to empower and elevate the consumer. You want to introduce them to an extraordinary world which will provide them with an aspirational life.

You need a clear and powerful value proposition.

LBE is used as a tool that brings additional value to the customer. At the core of every brand destination, whether be it be complex or well defined, is an insightful value proposition, one which expresses the nature of the customer-brand relationship with simplicity and clarity. Just like in any good firm, every shot, every line of dialogue is in service of moving towards the story, in LBE, every feature of the brand should also serve to realise the value proposition.

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Know your audience.

While the value proposition can be told to express the changing heart of the customer brand relationship, it only tells a small portion of the story. Guest engagement should not be just that it should reach the audience on an emotional, social, and cultural level; what their problems, desires, habits and aspirations are.

The goal of the brand in LBE is to create content, environment and experience that the consumer would love to be involved in. This will require the brand to have a deep understanding of who the consumer is and turning those insights into results that are actionable. At this point, you should have the entire customer journey map illustrated. This can then help to analyse and understand all the brand’s interaction with the consumer.

commercial space for rent

Be authentic to who you are.

Let’s face this fact that there are many smart and talented people in the world and many of them provide the same products and service as you, whether it is an LBE designer, a film on a hero’s origin story, a beach resort or an entire cruize ship. Therefore, it is your team’s collective presence, your knowledge, your attitude or your level of service and the relationship that you have with your customer overtime that sets your brand apart.

You should focus on creating content and experiences that are a true reflection of who you truly are that the customer cannot obtain anywhere else. This requires a thorough understanding of who you are as a brand an also emphasises on leveraging the best intersection points od your brand’s mission vision and value with your customer’s journey.

If you are a brand who would like to indulge in LBE and likes to create a different experience for your customer then you should surely take a step. Finding unique spaces for your brand can become a tedious task and here where Myrsa will help you. You can find any commercial space for rent as per your requirement, that too on a temporary basis. Leverage LBE in your brand’s journey and let your customer get the best sense out of your brand.

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