The New York Post says that millennials are now dominating the workforce; by 2020, they’ll make up half of the people currently in employment in the USA and the world, including developed countries in Asia, like Japan and Singapore.
Forbes claims that millennials are the most well-informed generation in history, and represent around $1.3 trillion in yearly consumer spending. To tap into their spending power, the long list of events management companies in Singapore and the world should first create the connections that millennials value.
A study conducted by Eventbrite showed that a whopping 78% of millennials* (people born between 1981 and 1997) would prefer to spend their money on experiences rather than material purchases, while 55% claimed that they are spending more on live events than they ever had.
These numbers aren’t just talk; as a matter of fact, over 82% of millennials surveyed attended more than one live event in the past year, and 72% said they would like to spend more on live events next year.
Suffice it to say, this new breed of participants has a lot of potential for high attendance and revenue at brand events. However, any company on the list of events management companies in Singapore can’t just create an event and assume millennials will flock to it. You need to meticulously plan and build an event that actively appeals to them and leverages on their unique buying patterns. Here are some of the ways to create an event that lives up to millennial expectations:
- Create a Visual Event
The visual attraction starts well before the event starts. Make sure that the look of your event is Instagrammable—or awesome enough to be posted on Instagram. Instagram is one of the social media platforms where millennials share event experiences with their peers. Given this idea, it’s crucial to make an event’s aesthetic top-notch.
The visual effect should flow throughout the entire event, including the general floor plan, décor, room set, seating arrangements and more. Your audience would remember your brand as a huge letdown if they were enticed visually on the invites, but they only see a monotonous set-up on the actual event.
Event management companies can take notes on how Redoxon cashed in on visual appeal when they held their Boost & Slide event. They presented their audience with a vibrantly-colored 100m water slide, along with colourful floaties, that is, indeed, a sight for sore eyes. The crowd of local and international participants that flocked the event is viable proof that effective visual presentation will work wonders for your event.
- Provide Networking Opportunities
Millennials are the techiest of the bunch, but it doesn’t mean that they don’t crave for human connection and networking opportunities. A Splash study revealed that the main reason why 56% of millennials attend events is the chance to meet new people or the opportunity to build their network.
Give them an interactive experience by using your event to connect them with people who share common interests and causes. Engage millennial attendees with live polling or mobile surveys to create a stronger group experience that leaves everyone feeling deeply involved.
Also, incorporate downtimes throughout your event, so your audience has a chance to relax while mingling with other attendees. Don’t bore them with tedious talks or overwhelm them with exhausting activities. Give them ample time to network, post about your event on social media, or take in the local scene. Trust us; they’d be able to spread the word about your brand events more efficiently if they still got the interest and energy to do so.
- Give Out Good Swag
Everybody loves free stuff—even millennials. According to a research, 53% of Millennials go to brand events to get their hands on some giveaways**. The Economist increased their digital magazine subscription by launching The Economist Coffee Truck, where they provided audiences with a taste of what the brand offers by giving away free cups of Kopi Luwak, the notoriously expensive and rare civet coffee, in various locations in Singapore.
Swag items are also a great way to ensure repeat attendees because it is a thoughtful way to let them know that you appreciate them taking the time to come to your brand events.
- Promote Sustainability
Because they grew up in an advancing world of global development and climate disruption, millennials are the most concerned generation when it comes to sustainability and societal issues. They seek meaning, like to rally around important causes, and strive to make the world a better, more colorful place.
They choose options that leave the least carbon footprint, and they prefer to use clean and renewable energy, if possible. Hence, the more sustainable your event is, the stronger the support you will get.
- Offer Trendy Food and Drink
A lot of millennials are also foodies—who aren’t really? Nonetheless, they love trying hip and trendy restaurants. Need a little more nudge? Take a quick peek at Instagram, where there are a plethora of millennial foodie accounts with snaps of their favourite food. Millennials are willing to shell out their bucks on good food, and if you provide them access to a cool food truck, your event will surely bring in more millennials.
Grab’s Food Truck Fest was recognized as the biggest gathering of food trucks that served local and international cuisine in Singapore. Over 14 vendors showcased their selection of gastronomic treats together with a Singaporean twist, while Grab presented how the public can use its latest mobile wallet function as a more convenient way to pay for their orders in this event.
Tom McGee at Forbes shared this powerful notion about targeting a millennial audience: “Millennials want a customer-centric experience in which they feel valued and wanted.” Now that the millennial influence is at its peak, it’s high time for marketers to understand how to craft a millennial-friendly event.