The Power of Experiences: Rethinking Events

In today's fast-paced world, where our lives are often defined by the digital landscape, something remarkable is happening. People are shifting their priorities, and it's changing the game for marketers. According to a 2018 study conducted by Expedia and the Center for Generational Kinetics, 74 percent of Americans prioritized experiences over products or things. This shift in consumer behavior offers a golden opportunity to reimagine and redesign traditional events as inviting and memorable moments.

The Experience Revolution: Why It Matters

The 2018 paper reported that "Baby Boomers (born 1946-64) are entering a stage where 'less is more,' while younger generations, particularly Millennials (defined as those born from 1977-95), are leading the charge in placing a newfound value on experiences, more than things," the report, titled Generations on the Move, states. This isn't just a trend; it's a fundamental change in how people view and engage with the world around them.

Shared experiences have a unique power—they connect us more deeply to other people than shared consumption ever could. This is where experiential marketing truly shines. Events, in particular, are prime examples of experiences curated for consumers. However, it's crucial to remember that simply hosting an event won't guarantee success. To truly make an impact, your event must be cleverly designed with a priority to engage and evoke emotion.

Know Your Audience: The Key to Memorable Experiences

It's a common misconception that people will flock to an event simply because your brand is hosting it. While brand recognition is essential, the real goal should be to understand your intended audience or the specific group of consumers you want to engage. Understanding motivators from your intended audience unlocks the ability to craft a compelling story that triggers FOMO and leads to an instinctively crave-worthy experience.

The Pandemic Effect: Experiences Over Things

The desire for experiences over material possessions gained even more traction during the COVID-19 pandemic. As the world grappled with uncertainty, people longed for the tangible, the memorable, and the meaningful. Cleverly designed events offer precisely that. As we move forward in this experience-centric era, commit to going beyond the norm and traditional event plan. Success in the future of experience lies in your ability to truly understand your audience, craft compelling stories that resonate, inspire, and create experiences that connect your brand to your consumer’s desires.