Ambitious yet entitled. Greedy yet generous. Stubborn yet flexible. These are just a few terms used to describe millennials – aka those born between the years of 1980 and 2000.
While views on this generation certainly vary, there is one thing that is for certain: their importance and impact as a demographic for companies and products worldwide. This along with their commitment to brand loyalty, adaptable thinking and social media prowess make them the perfect fit for trade shows and overlooking them would be a mistake you would not want to make.
They’re likely one of your top demographics and for good reason
It’s fairly obvious that millennials now between the ages of 16 and 36 are the key demographic for many companies today. Studies estimate that over their lifetimes, millennials will have spent over $10 trillion as consumers. Having this generation as your customers means big money for your company now and in the future.
Another important fact about millennials is that they are now more than ever remaining loyal to a brand or product once they find it works for them. I mentioned two terms at the beginning of this article: stubborn and flexible. While they are seemingly complete opposites, they both can and do apply. Studies show that once millennials find a product that works for them, they’d rather stick with it as a sign of both trust and reliability. This makes the typical millennial consumer very loyal and a long-time customer.
However, once that product becomes discontinued or the company goes out of business, the millennial customer becomes very open-minded and is willing to explore their options to make an informed decision. This makes trade shows and expos the perfect place for them. They not only get the face to face interaction that they so crave since they grew up in a digital wonderland, but they also get to test out these products hands on and see what the company has to offer as a whole.
They’re fluent in Social Media
Speaking of the so-called “digital wonderland” that this generation grew up in can and should be used to your advantage. A 2014 study shows that 60% of millennials shared their events and experiences via their social media channels. They love showing off what they are doing so they can share the experience with others. Imagine the exposure a simple Twitter or Instagram post with your event’s hashtag could bring. This is a simple form of authentic and word of mouth marketing that you don’t need to pay for. Simply having the average millennial in attendance will do it for you.
Don’t misjudge or underestimate the power of the millennial audience when it comes to your next trade show or event. They bring not only an open-mind and loyalty, but also when given a good experience, they will bring awareness of your brand to potential millions via social media.