What Millennials Want — and How to Reach Them
Millennials are the largest generation group in U.S. history, surpassing even the baby boomer generation, according to PayScale — which means it’s important to understand them and know how to market to them.
Two recent articles help shed light on Generation Y, or people born between 1980 and 2000.
First, what do they want and what can they do without?
• Convenience: Millennials want what they want immediately and without a lot of hassle. Jim has discussed the barriers to attending live events. In his post, The Wrong Side of the Convenience Gap, he wrote: “We in the business tend to forget that showing up in a specific time and place that’s far from home or work is a huge cost to a buyer, and although it can’t be eliminated, it can be eased and acknowledged. The next time you say “thanks for coming out to the show,” think about what that really means and how important that sentiment is.”
• Value: Millennials want more “bang for their hard-earned buck.” For them, it might not be the actual price that matters, but the value they’re getting for that price. In his post, What Does a a Ticket Really Get You?, Jim wrote: “If you see something funny, you are funnier. If you see something smart, you’re smarter. If you see an amazing athletic contest, well, you’re not exactly more athletic, but you somehow feel you’ve taken on some of those qualities. A ticket to a great show or game is not just entertainment — it’s a personal upgrade. That doesn’t even take into account the other personal benefits: feeling closer to the people who see the event with you and gaining a deeper connection to your immediate surroundings and the world at large. Those benefits get thrown in as free bonuses.”
On the flip side, PayScale reported that marriage, children and buying a home just aren’t on millennials’ immediate wish lists.
And 4 Hoteliers listed tips to market to millennials, including posting pictures everywhere (it’s free publicity), making sure your site is mobile friendly and being active on social media. Although the site focuses on the hotel industry, we thought this advice would be good to share with live entertainment marketers as well.
- The Most Important Thing in the World for Marketers to Understand
- Engaging Millennials With Gamification: Gabe Zichermann at TEDxBroadway
- The Story War