Millennials represent about one fourth of the population, or $200 billion in annual buying power. There are no shortcuts to winning over Generation Y, but there are simple digital strategies you can use to effectively target them.
Event professionals who adapt to the changing times will find themselves in great demand, while those who fail to adapt may end up cashing in their chips and calling it quits. Luckily, there are a six crucial factors which can help any working Eventpro capitalize on the Millennial generation.
Be Detailed, Current, and Correct
Once upon a time it might’ve been a prudent move to wait until you’ve already won a client over to give them more detailed information, like how much you charge for your services, but that’s no longer the case.
Millennials want all of the information up front, in order to make informed decisions. Remember, these are pragmatic shoppers who have been groomed to comparison shop. It’s second nature for them, and more often than not, if they can’t find the information they want within the first 60 seconds, they’re not going to pick up the phone and call you – they’re going to move on to something else.
However, while excluding information can be damaging, having incorrect or out of date information is down right devastating. For a generation who feels comfortable updating their Facebook, Instagram, and Twitter accounts multiple times a day, having outdated content subconsciously communicates, at best, a lack of organization and social awareness, and at worst, lack of success and pointed unpopularity.
They Place More Emphasis on Value than Price
It may seem daunting to offer up all the details about your business online – after all, won’t millennials just hire the cheapest possible option if they’re so obsessed with price comparison? Luckily, Millennials are more interested in getting the most value for their money, rather than the lowest price. Luckily, value is a lot more subjective than price, which offers event professionals a great opportunity to reel in new customers. It requires a lot of self awareness and understanding of what special something you (or your event hall, catering company, etc) will bring to their event, and a confident communication of the same.
Images Are Everything
If there’s one thing to take away from the evolving landscape of eCommerce, it’s that anytime Millennials are shopping online, vibrant beautiful images will inspire them to pull out their wallet.
That holds true regardless of whether they are purchasing a sweater or booking an event. This isn’t limited to Millennials either: 90% of all purchase decisions are subconscious, and people remember 80% of what they see and only 20% of what they read.
Millennials want to be able to envision what their event will look like in your hands, as well as ensure that they’re hiring a professional. Beautiful images that evoke a mood will also attract clientele that share your vision for an event, which help you make sure that the clients you book will be happy with your work.
They Want to Know Who You Are
In an overstuffed market, it’s important to offset the impersonal nature of selling your services digitally by offering personal content within your website or online listing. Millennials value authenticity, especially when it comes to spending their money – according to a recent survey, 43% of millennials value authenticity even more than content.
Use that to your advantage by providing potential clients with a sense of your personality that offers and idea of who you are and why they should book with you. Millennials are searching for more than just a service or a venue: they’re searching for someone who is passionate and excited about their work because it means hiring someone who will be passionate and excited to work with them.
Referrals & Reviews Above All Else
According to a recent study, 61% of shoppers review products before making a purchase. If a consumer is willing to spend time reading reviews in order to feel confident about their purchase decisions, doesn’t it stand to reason that they’ll invest even more time and energy into researching vendors and venues for their special event?
Your happy clients are your most effective marketing tool. Be sure that your website or online listings include some type of positive feedback from your former clients in order to make event planners feel confident in your ability and services.
After successful events, be sure to follow up with happy clients and ask them for feedback on your services and prepare a set of questions with open ended answers; at least one question should revolve around what your clients enjoyed most about your service. Ask them for a good time to touch base on the phone, or ask if you can email your survey questions to them for completion at their leisure and voila, reviews at the ready!
Everyone knows there’s a lot of money to be made from Millennials, but not everyone understands the key factors that are required to separate these digital natives from their hard earned cash. That’s why it’s so difficult, and yet so crucially important, to understand how Millennials make their purchase decisions, whether it’s when they’re buying a new pair of jeans or hiring their wedding photographer.