promotions that drive millennials - ncb show 2017
TRANSCRIPT
#NCBShow17
Promotions that Drive MillennialsWhitney LarsonPresident, Vēmos
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
Millennials
2. Value experiences over things
3. Value authenticity
4. Want personalization
5. Want participation/engagement
6. Less disposable income, but will pay more for quality
7. Always Connected
1. Between the ages of 18 - 35
#NCBShow17
Millennial way of thinking is decentralized and doesn’t follow social norms
vs
Serious generations were centralized, one that’s less personalized and focuses on a mass-market approach.
#NCBShow17
What are we doing wrong?
• Slightly more than 60% of millennials
go to nightclubs
• Only 25% of that 60% go more than once a month
#NCBShow17
What are we doing wrong?
• Expensive cover charges • High-priced drinks
• Long lines
• Slow bar service • Rude staff • Pretension • Being pushed around in crowd place
• Meat-market atmosphere
• Poor male-to-female ratio • Better ways to discover new music • Inability to have conversation
#NCBShow17
Millennials• Expensive cover charges
• High-priced drinks
• Long lines • Slow bar service • Being pushed around • Rude staff
• Pretension
• Meat-market atmosphere • Poor male-to-female ratio • Better ways to discover new music • Inability to have conversation
Nightlife• Less disposable income, but will
pay more for quality
• Value experiences
• Value authenticity & personalization
• Want participation/engagement
• Always connected
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
“I’d rather chill in and relax.”
“I’d rather spend my money on going to try some new food rather than going to an overpriced nightclub.”
“I could be doing a lot more at home for less money, with greater cultural value and without the hassle of trekking out.”
“A night out now costs almost as much as a weekend away…and a weekend away looks better on Instagram.”
The Guardian Article: Why Millennials Don’t Go Clubbing
#NCBShow17
Promotions that Drive Millennials
1. Value experiences over things
2. Value authenticity
3. Want personalization
4. Want participation/engagement
5. Less disposable income, but will pay more for quality
6. Always Connected
#NCBShow17
Focus on Experiences
#NCBShow17
Millennials are oddly nostalgic. Consider doing throwback parties or bringing in artists from days of old
#NCBShow17
#NCBShow17
#NCBShow17
Be Personal
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
Marketing Channels
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
#NCBShow17
“A night out now costs almost as much as a weekend away…and a weekend away looks better on Instagram.”
#NCBShow17
#NCBShow17
#NCBShow17
Takeaways
Create experiences
Provide personalized service
Focus on quality
Engage on the right channels