Marketing experiences to the youth is becoming increasingly profitable as the youth value experiences over material goods. Learn how brands are utilizing this to their advantage.
The youth mind set is changing and advertisers must change their youth marketing tactics to realign with millennials’ values. Consumer goods no longer have the appeal that they once did with this demographic; increasingly millennials value experiences over possessions. Clyde McKendrick, Executive Strategy Director at WDWC, explains this generational shift:
There is an attitudinal difference that is generation centered. People are looking to explore a sense of meaning and purpose rather than big material aspirations. In some respects, there is a new model archetype. They are more interested in what they are trying to do for the world and the way they are changing things for people than big cars and riches.[1]
This shows that the youth are undergoing an attitudinal reevaluation of their wants and desires. They are no longer satisfied with mere possessions; instead they want to be a part of something larger, to experience something grander. This probably has a lot of companies and brands that are primarily product based, deeply concerned. Albeit, unnecessarily so.
Advertisers trying to reach the college market need to focus on marketing experiences to the youth. The product itself should not be the highlight of the ad, but rather what the product allows you to experience. Red Bull is one brand that has capitalized on this form of experiential marketing. On October 14, 2012, Felix Baumgartner—sponsored by Red Bull—skydived from the edge of space. This “jump was carried live by television outlets around the world, and more than 8 million people saw the live video on YouTube with stunning images from robot cameras aloft with the capsule.”[2] This had tremendous impact on the brand and forever linked Red Bull with thrill seekers and adrenaline-pumping events.
Not all successful experiential marketing campaigns need to be so extreme to be effective. Another company marketing experiences to the youth successfully—at least youth men—is Axe. They have done several spring break marketing campaigns that contribute to the spring break party environment. Axe body spray is marketed as “a cheap product that anyone can buy, marketed as an inexpensive yet sophisticated scent that will get you laid . . . It’s no wonder that Axe body spray is the number one body spray of choice for men ranging from the ages of 14-24.”[3] Axe knows marketing experiences to the youth will resonate with the youth in ways that exceed traditional advertising.
Reaching the youth using college event marketing and experiential marketing techniques, will become increasingly profitable as millennials’ values continue to transition away from consumption towards experiences.
[1] McKendrick, Clyde. “Q&A With WDCW On Their Class Of 2012 Study.” Interview by Ypulse.
[2] Welch, William M. “Skydiver’s space jump pays off for Red Bull”. USA Today.
[3] Fontino, Christopher. http://themiddleclass.tripod.com/ahfinal/answer1.html