Generation Y Ripe For Experiential Marketing
A recent survey of 2,574 US consumers commissioned by Jack Morton and conducted this year found Gen Y consumers - also known as "millennials" - respond strongly to live marketing events, which they prefer over TV and Internet advertising. While self serving, the study found 70 percent of 13 to 23 year olds say experiential marketing is extremely or very influential on their opinion of a product or brand. Sixty Five percent of 13 to 23 year olds say participating in an event would cause them to act more quickly to purchase a product. Seventy six percent of this demographic say participating in an event would make them more receptive to the brand or product's advertising. Seventy four percent of 13 to 23 year olds say participating in a live marketing experience is something they would tell others about.
Whether or not Jack Morton is drumming up business for it self with this study is irrelevant. What's very relevant is the fact Gen Y, and other demos for that matter, don't respond well anymore to traditional media. The emerging field of experiential marketing - a fancy name for event marketing - appears to be gaining traction and success at reaching elusive, traditional media-averse audiences.
Comments
Wow, that's pretty significant stuff. Not only should it make a difference in how we view experiential marketing (ref. the IXMA), but we should seriously consider the implications of these findings on other forms of media - both traditional, mass media and the more interactive (and personal), social media. It seems to me that if you're trying to reach out and engage this market, these figures should have you re-examining your current media and marketing plans.
Thanks for the post. I've added it to our list of "must review" blogs for Thursday (12/01) on the "Much Ado About Marketing" blog.
Regards,
Mike Bawden
Brand Central Station
I guess that it is going to come down to putting hidden cameras everywhere with microphones and finding out exactly what these kids are up to. Just a simple focus group or taste survey approach is not going to work anymore, because it has not been determined whether or not good taste even matters to this generation. I mean, has anyone asked them?
"Whether or not Jack Morton is drumming up business for it self with this study is irrelevant. " I disagree. When Jack Morton are targeting a client base, their 'research' will be preaching to the choir. Further, to categorize millennials as an amorphous group with the same attitudes is not only wrong, but insults them. I know and work with many in their early 20's - each is unique, their attitudes differ widely and more. This kind of research belongs back in the 1980's.
"Whether or not Jack Morton is drumming up business for it self with this study is irrelevant. " I disagree. When Jack Morton are targeting a client base, their 'research' will be preaching to the choir. Further, to categorize millennials as an amorphous group with the same attitudes is not only wrong, but insults them. I know and work with many in their early 20's - each is unique, their attitudes differ widely and more. This kind of research belongs back in the 1980's.