- Gen-Z come of age
- Consumers strive for physical experiences
- Personalization goes further
2020 is here, and the past decade saw the experiential marketing industry make remarkable strides. We have evolved in the past 10 years, and brands must also expect consumers needs to transform. The industry is on the precipice of great change, and we can either embrace to advance or become irrelevant.
2019 was chaotic on many fronts. We were—and still are—stressed out, overwhelmed and looking for escapes. CBD ran rampant, cocktail sessions managed to rebrand friendly drinking excursions into self-care, and everyone kicked off a podcast.
At the core, we still all want the same things: to do good, spark change, think differently and create joy. 77% of today’s marketers rely on experiential as a core component of their advertising strategies. The work we do matters. So how do we stay relevant?
Generation Z is no longer living in the shadows of their older Millennial siblings. They’ve found their place in the world and they’re here to stay. From school safety to climate change to environmental sustainability, Gen-Z are dialed-in to the issues that matter. They are organizing movements, backing advocates like Greta Thunberg as their own, and sparking change.
Experiential marketers focus on human betterment, on the need for an environmental reset, on correcting this crazy political climate. Gen-Z want change, they want inclusivity, and they want to be heard.
Everything is mobile now—payments, shopping, browsing. With that, the rise of cashless stores, stadiums, and restaurants are creating a new environment for consumers. 2020 will see a frictionless society in full force.
Experiential marketers, prepare for the transition from physical experiences to virtual ones. This world is nonstop, but consumers strive for the simplicity of earlier times. Create fun, immersive experiences but make them convenient.
The Age of Micro 2.0
We’ve said this before, and we’ll say it again. We debunk the idea that in order for experiences to be successful, marketers need to shape them into a “one size fits all” approach. The industry made some great strides to move away from this notion, but we challenge the industry to do more. Our research uncovered nine experience archetypes. Each archetype encompasses the values and motivators for consumers who choose them: Adventure, Cause, Connect, Enrichment, Sanctuary, Sensorial, Trendy, Virtual and VIP.
Experiential marketers, we have the tools at our disposal to uniquely identify the best path of experience. Let’s set the bar high and aim to inspire and engage with consumers on a whole new level.