This week, we have Part 3, the final part of our series with Jay Lenstrom, Shiftgig’s SVP of Experiential, and former CEO of Booked Out.
Today, we hear from Jay on where he sees the experiential marketing world headed, and get a few predictions for the future of the space.
Part 3: Where Experiential is Headed
What are some of the current issues in the experiential space that you feel should be addressed?
One issue now is that there are so many agencies in the experiential space it’s creating noise in the market. If 2,000-plus people are gathered anywhere in the country, you can be sure a company has paid for BA’s to be there. You don’t need a team of 60 agency team members to complete a campaign, you can get six brand ambassadors or social influencers, pay them well, and let them execute an amazing one-to-one campaign.
The other thing we’ve got to do better is improving the way we determine ROI (return on investment). What does the money you invest in experiential ultimately do for the brand perception? What does it do for sales? Right now we know experiential is good, it creates buzz, but if we could better quantify it, the impact would be even greater. Shiftgig has a data science team to help solve this problem.
Where do you see the industry headed in the next several years?
I believe the experiential industry will continue double digit growth for many years to come. The reason being is there are no other marketing tactics that leverage peer-to-peer influence, relevance, and emotion to help brands make a direct impact on consumers.
What is the future of Shiftgig?
What we do well at Shiftgig is make the industry more transparent — technology doesn’t work without transparency. We’re working to be efficient for corporations, and to use our worker data set to be scalable for any company, or vertical. We are empowering people to learn and apply to get the best work in the business
If we continue to do this right, we could be one of the largest employers in the United States. We could realistically get that big and I love that challenge!
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