Millennials, characterized as young adults born between 1980-2000, are the largest and most diverse generation in the U.S. population and their spending power is growing rapidly.
Experiential marketing was made for millennials, who are tech savvy, loyal to brands, and always looking to spend money on experiences rather than things.
A solid experiential marketing strategy can open your business up to this growing population that craves a connection to the things they buy. So why is experiential marketing so appealing to millennials?
1. Authenticity
Millennials are looking to reflect their own personality and style in the products they buy. They want to form connections and receive honest information, which can start with highly trained brand ambassadors.
Millennials also want to share information and experiences online. If they feel you have deceived them, it will only turn them off your brand.
Millennials will be more open to hearing about your brand once you establish a genuine relationship.
2. Cause Marketing
Giving back is cool, and millennials are the most generous generation to date.
And because of their extensive knowledge of technology and ease of finding information online, they are more involved and engaged with social issues than any other generation.
They are more aware of a company’s connections to social, environmental and economic causes. Consumers, especially millennials, are more likely to associate with a brand that supports the same causes they do.
Establishing a cause marketing campaign at your company will be incredibly helpful in reaching out to millennials.
3. FOMO
For Millennials, FOMO (Fear Of Missing Out), is a real thing. Thanks to widespread use of social platforms, people are always connected and know what their friends, co-workers, family, etc. are up to.
If something is going on (think: pop-ups, concerts, special events) and people are talking online, a millennial will want to be there.
Millennials are more likely to spend on experiences and actively seek out activities or events to participate in. This provides them the chance to add to their online platforms while making memories with friends.
4. Online Presence
Tying into the FOMO discussion, Millennials are looking for opportunities to enhance their online platforms.
Nearly all consumers will capture content (photos, videos, etc.) while at an event and will definitely share it online afterward.
This is not only an excellent opportunity for your brand to reach new consumers, but to also get free publicity and benefit from word-of-mouth advertising as they share their experiences with friends and followers.
Remain True
Your experiential marketing strategy can be extremely useful in recruiting Millennials to your brand, but it’s vital that you remain true to your organization and your brand’s mission.
You don’t want to appear to be pandering to a younger generation if you have no valid connection. It’s also important that you target Millennials in the right settings at the right times.
Don’t expect just to receive a huge following, time it right and maximize the opportunity to spread your brand’s mission to the most people.
Let us help you create the perfect experiential marketing strategy for your business today!